Critically, the NSIA also applies to transactions involving companies outside the
Voluntary notifications can be made for transactions not subject to the mandatory regime, and there is also scope for informal engagement. The standard review assessment, which applies to all notified transactions, lasts up to 30 working days. Transactions which raise security concerns can be called in for a further 30 working day assessment period (and +a further 45 working days if needed).
The national security review is separate from any competition /merger control notifications that may be required for qualifying transactions under the Enterprise Act 2002 (as amended). Reference to "national security" as one of the public interest considerations, under section 42 of the Enterprise Act (EA), has been removed whilst defence mergers under section 59 EA can no longer give rise to a special merger situation.
Here is a link to our flow chart which provides a high-level overview of NSI Regime
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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