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 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 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). Key dates STCTA 2023 (IRL) commenced on 6 January 2025 (the Commencement Date), and so notifiable transactions must be notified to the Minister from the Commencement Date. STCTA 2023 (IRL), however, also includes ‘look back’ provisions and allows the Minister to review transactions that completed in the 15 months prior to 6 January 2025 and, therefore, transactions that completed from 6 October 2023 (ie 15 months before the Commencement