Deputy PM calls for evidence on updates to National Security and Investment Act

Article summary

The Deputy PM, Oliver Dowden, has announced a call for evidence on potential updates to the National Security and Investment Act 2021 (NSIA 2021), which came into force in January 2022. The call for evidence period will run until 15 January 2024. Dowden has requested a focus on the impact of the National Security and Investment (NSI) system on businesses and investors, and their experience interacting with the NSI; whether scope and requirements of the NSI system are proportionate and effective; stakeholders’ understanding of the NSI system and national security risks resulting from investments. Dowden has noted that this call for evidence will be used to: help review the National Security and Investment Act 2021 (Notifiable Acquisition) (Specification of Qualifying Entities) Regulations 2021, SI 2021/1264; improve NSI notification and assessment processes; and develop the government’s public guidance and communications on how NSIA 2021 works.