Revocation of emergency notification regime and introduction of 'call-in' regime

On 26 May 2021, the Government announced that it will revoke the temporary emergency notification regime in the Overseas Investment Act 2005 (Act), from 7 June 2020.

Also, the National Security and Public Order (NSPO) notification regime will replace the ENR and apply to certain transactions that do not need consent but might be contrary to national security and public order. The NSPO regime gives the Overseas Investment Office (OIO) and Ministers the power to call-in for review foreign investments in a list of ‘strategically important businesses’ (SIB) that would not otherwise require consent.

• Type:

  • Entry and establishment (Approval and admission)

• Industry:

  • Not industry specific

• Sources:

  • Lexologogy, Revocation of emergency notification regime and introduction of 'call-in' regime, https://www.lexology.com/library/detail.aspx?g=26fec62c-349c-4c24-99b8-874f18084a7c&utm_source=lexology+daily+newsfeed&utm_medium=html+email+-+body+-+general+section&utm_campaign=lexology+subscriber+daily+feed&utm_content=lexology+daily+newsfeed+2021-06-21&utm_term=, 01 Jun 2021