MPs to scrutinise effectiveness of National Security and Investment Act
20 June 2022
The impact of the National Security and Investment Act is set to be scrutinised by the Business, Energy and Industrial Strategy (BEIS) Committee in a session with academic and legal experts.
- Watch Parliament TV: The work of the Investment Security Unit
- Inquiry: The work of the Investment Security Unit
- Business, Energy and Industrial Strategy Committee
Tuesday 21 June 2022
- Dr Ashley Lenihan, Professor of the Practice of International Affairs and Deputy Director of the Master of Science in Foreign Service Program at Georgetown University
- Nicole Kar, Global Head of Antitrust and Foreign Investment, Linklaters
- Will Jackson-Moore, Global Private Equity, Real Assets and Sovereign Investment Funds Leader, PwC
MPs on the Committee are likely to ask the witness panel about the impact of Act on UK business and how the Government is using it.
The National Security and Investment Act dramatically expanded the powers of the Government to halt business buyout deals on national security grounds. It commits the Government to publishing annual reports on the implementation of the Act, the first of which was published last week.
Since coming into force at the start of the year, it has already been used to look into French billionaire Patrick Drahi increasing his stake in BT, and the takeover of semiconductor factory Newport Wafer Fab by Chinese-owned Dutch firm Nexperia. A decision on the latter by Business Secretary Kwasi Kwarteng is expected in the next couple of weeks.
Image: Parliamentary copyright