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B. G., Opalesque Geneva:

On 4 January 2022, the UK National Security and Investment (NSI) Act enters into force, introducing a new foreign direct investment (FDI) regime with standalone powers for the review of FDI in the UK.

The headline points, as highlighted by Norton Rose Fulbright, are:

• A significant expansion of the types of transactions covered by national security reviews - moving beyond mergers and acquisitions to include a much broader range of deals including minority investments, acquisitions of voting rights and acquisitions of assets including land and IP.

• The UK Government has the power to review (call-in) relevant deals that take place from any point after the date the Bill was published (i.e. deals entered into or that complete on or after November 12, 2020) although the full regime will only be in place once the Act enters into force on January 4, 2022.

• Failure to comply may result in heavy sanctions including turnover-based fines and criminal liability, as well as the risk of transactions subject to mandatory notification being void.

"A new era begins today," commented ......................

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