Background
The National Security and Investment Bill (the “
Bill”) received royal assent and was enacted into English law as the National Security and Investment Act (the “
Act”) on 29 April 2021. As discussed in our previous Update
1, the Act creates a statutory regime granting to the Investment Screening Unit (the “
ISU”) of the Secretary of State for Business, Energy and Industrial Strategy robust powers to scrutinise acquisitions which may pose a risk to the national security of the UK. This eBriefing will summarise the key changes made to the Bill during the course of its Parliamentary debate prior to it becoming the Act and the current implementation of the Act.