Operation of the National Security and Investment Act 2021: memorandum of understanding between the Cabinet Office and the CMA
Memorandum of Understanding between the Cabinet Office and the Competition and Markets Authority on the operation of the National Security and Investment Act 2021.
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This Memorandum of Understanding (MoU) supersedes the previous MoU between the Department for Business, Energy and Industrial Strategy (BEIS) and the Competition and Markets Authority (CMA), following the transfer of the Investment Security Unit (ISU) from BEIS to the Cabinet Office in February 2023. This MoU has been updated to reflect this transfer.
The MoU provides a framework for cooperation, coordination and information sharing in the operation of the National Security and Investment Act between the CMA and the Cabinet Office.
The MoU sets out the legal framework and broad principles for collaboration on:
- the timing of investigations
- interim measures
- remedies
- the sharing of relevant information between the parties
The shared aims of this MoU are to enable closer working between the parties to assist both in effectively discharging their respective regulatory functions.