The Government has introduced legislation to update its powers to scrutinise and intervene in acquisitions of control of entities and assets to protect national security. The new powers will mandate notification for certain transactions in a list of sectors, including Advanced Materials, AI, Data Infrastructure, Energy, Quantum Technologies and Transport.

The Government has set out in a consultation document the proposed definitions for the types of entity within each sector that could come under the Bill’s mandatory regime.

We would like to invite entities operating in the above sectors and experts from the private sector and academia, and from investors and their legal advisers, to respond to this consultation. Responses will be used to refine the definitions so they provide enough clarity to allow parties to self-assess whether they need to notify.

The final definitions will be put into secondary legislation, which the Government intends to introduce in time for commencement of the Bill in 2021.

You can respond via the link below or by e-mailing:

nsisectorconsultation@beis.gov.uk

Respond online here.

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