The Screening of Third Country Transactions Act 2023 (Ireland) (STCTA 2023 (IRL)) introduces Ireland’s first foreign direct investment screening regime and gives effect to gives to Regulation (EU) 2019/452, more commonly known as the EU Foreign Direct Investment Regulation. Certain transactions involving third countries (including third country nationals and/or third country undertakings) must now be notified to the Minister for Enterprise, Trade and Employment in Ireland (the Minister), who has the power to block, or impose conditions on, such transactions. This Practice Note summarises some of the key aspects of STCTA 2023 (IRL), together with the notification requirements under STCTA 2023 (IRL).