The draft notifiable acquisition statutory instrument (SI) sets out the proposed acquisitions of qualifying entities in the 17 sectors of the economy that will be subject to the mandatory notification requirements set out in the National Security and Investment Act 2021.
The government has sought to ensure that these proposed descriptions will enable potential acquirers to self-identify for the purposes of the mandatory notification requirement. It will also ensure that the government is informed of proposed acquisitions in these important sectors and will be able to take action to investigate and, if necessary, address any national security risks.
The government has previously consulted on the mandatory notification sectors and published a response in March 2021.
After further targeted engagement with stakeholders following the publication of the government response to the consultation, the proposed descriptions in this draft statutory instrument have been refined further.
This draft statutory instrument has been published to update businesses and investors about the mandatory notification requirements ahead of commencement of the National Security and Investment Act 2021. The contents of this draft statutory instrument are subject to change. The draft has been published for information purposes only.
The government expects to lay the final notifiable acquisition statutory instrument later this year, subject to Parliamentary timetabling.