Thousands of corporate deals per year will need UK Government clearance under the National Security & Investment Act 2021, with non-compliant deals declared void and large fines and criminal penalties for the companies and directors involved. This notification requirement will affect key sectors including transport, infrastructure, energy, communications and technology. The Act will also give the Government unprecedented new powers to investigate and block any deal (including asset deals) that it suspects might threaten UK national security, including by retrospectively 'calling in' deals that completed any time from 12 November 2020 onwards.
Corporate deal-makers, serial investors (including private equity and venture capital firms) and businesses operating in sensitive sectors will need to understand the rules or risk getting caught out.
In this webinar we explain the background to the Act, the mandatory notification rules it will introduce, the Government's powers to 'call-in' other deals for review, and the approaches the Government may take to assessing national security risks.
Further reading on the National Security & Investment Act 2021
- Corporate deals and new UK Government approvals: the National Security & Investment Act 2021 becomes law
- The National Security & Investment Act 2021: mandatory notification of energy sector deals
- The National Security & Investment Act 2021: mandatory notification for the communications sector and critical suppliers to government
- The National Security & Investment Act 2021: mandatory notification in the transport sector