BEIS publishes consultation outcome on the National Security and Investment Act 2021 draft statement on the power to call in acquisitions

Article summary

The Department for Business, Energy & Industrial Strategy (BEIS) has published the response to the consultation on the draft statement for the purposes of section 3 of the National Security and Investment Act 2021 (NSI Act). The consultation sought responses on three questions which focused on whether the draft statement clearly described how the Secretary of State expects to use the call-in power, whether it helped to decide whether an acquisition is likely to be called in, and whether the risk factors used to decide whether to use the call-in power were set out clearly and easy to understand. The response states that the draft statement was broadly well-received, with several respondents highlighting improvements on previous versions of the statement. Following the consultation, the government has and laid the final statement before Parliament which will enable the call-in power to be...