UK Introduces New National Security and Investment (NSI) Bill

November 2020

On 11 November 2020, the UK government announced a new NSI regime.

Under the new regime, certain direct foreign investments in the UK will require mandatory notification to, and prior approval by, the Department for Business, Energy & Industrial Strategy (BEIS) before completion. In addition, BEIS will be able to “call in” retroactively deals (within six months of becoming aware of them) that fall outside the mandatory notification requirements, but which it deems still to raise potential national security risks. BEIS will be able to look backwards at deals that closed within 5 years, so long as they closed on or after 12 November 2020.