The National Security and Investment Act 2021

Produced in partnership with Becket McGrath of Euclid Law Limited
Practice notes

The National Security and Investment Act 2021

Produced in partnership with Becket McGrath of Euclid Law Limited

Practice notes
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Scope of the regime

The National Security and Investment Act 2021 (NSIA 2021) came fully into force on 4 January 2022. Since that date, the British Government has been able to review and intervene in a wide range of Investments in entities that are active in the UK, or acquisitions of related assets, with the ultimate objective of preventing transactions that could harm the UK’s national security.

The NSIA 2021 is administered by the Investment Security Unit (ISU), which currently sits within the Cabinet Office, with the formal decision maker being the Chancellor of the Duchy of Lancaster (referred to the Act, and this note, as the ‘Secretary of State’). As well as Processing notifications and related proceedings, the ISU is able to provide guidance on the regime and its application to specific transactions.

Under the NSIA 2021, certain investments in business entities that are active in 17 specific sectors in the UK have to be notified to the ISU by the investor and must be cleared by the Secretary of State before

Becket McGrath
Becket McGrath

Becket advises clients on all aspects of EU and UK competition law, with an emphasis on defending companies against investigations, distribution issues and merger control. Although he advises clients in a broad range of sectors, he has a particular interest in the media, technology and life sciences sectors. This interest extends to the growing importance of public interest and foreign investment reviews for these sectors. He is a leading expert on distribution issues raised by e-commerce, including in the context of selective distribution, and has advised major online retailers, marketplaces and brands on a wide range of strategic competition issues.

Becket has worked in both London and Brussels during his career and is qualified as an English solicitor and Belgian advocaat. He has experience of enforcing UK and EU competition law at a senior level in the UK’s Office of Fair Trading (now the Competition and Markets Authority) and retains good links with enforcement agencies and regulators in the UK and across the EU. Becket was previously featured in GCR’s ‘40 under 40’ feature and is listed as a ‘thought leader’ in the latest Who’s Who Legal/Global Competition Review directory of leading competition lawyers.

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Jurisdiction(s):
United Kingdom
Key definition:
Investments definition
What does Investments mean?

A product specified in the FSA Regulated Activities Order.

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