Introduction of the National Security and Investment Bill – Government Response.
The Government introduced legislation on 11th November 2020 to ensure it has the necessary powers to scrutinise and intervene in business transactions, such as takeovers, to protect national security, while providing businesses and investors with the certainty and transparency they need to do business in the UK. Alongside this, the Government published a consultation document on the proposed definitions for the types of entity within each sector that could come under the Bill’s mandatory regime.
The Government has now published its response to this consultation which includes draft statutory instruments for each mandatory sector. It is now drafting guidance that will accompany the legislation.
Advanced Materials Guidance
BEIS would like to thank you for taking the time to input into the consultation. As a result of your input, substantial updates have been made to the definition to improve clarity and strike a balance between protecting critical UK technology advantage and allowing companies and their innovations to flourish.