Government Publishes National Security and Investment Bill
The Government is introducing the National Security and Investment Bill today, setting out proposed new powers to intervene in hostile foreign direct investment that threatens UK national security.
If passed into legislation, investors and businesses will be required to notify the Government of transactions in designated sectors, including defence, transport, satellite and space technologies, as well as other critical suppliers to Government and the emergency services.
The Bill will extend the Government’s screening powers, with proposed transactions assessed within 30 working days.
ADS Chief Executive Paul Everitt said:
“Our industries support specific legislation to protect strategic national capabilities from hostile takeovers.
“Companies in our aerospace, defence, security and space sectors are developing innovative new technologies in the UK with the potential to make a long-term contribution to our national prosperity.
“The Government’s plans must strike an appropriate balance between putting protections in place and continuing to ensure the UK remains an attractive environment for international investment.”