An online checker to help you decide.
The UK National Security and Investment Act 2021 (the NSI Act) is now in force, giving the Government more powers to investigate transactions that may cause a threat to the UK’s security and economy.
It’s particularly concerned with transactions in the following sectors deemed to be potentially high-risk:
- Advanced materials
- Advanced robotics
- Artificial intelligence
- Civil nuclear
- Computing hardware
- Critical suppliers to the Government
- Cryptographic authentication
- Data infrastructure
- Military/dual-use technologies
- Quantum technologies
- Satellite and space technologies
- Suppliers to the emergency services
- Synthetic biology
The NSI Act puts the onus on acquirers to notify certain deals within the 17 high-risk sectors and can impose punitive sanctions for non-compliance. These include the transaction being blocked or retrospectively unwound and in worst-case scenarios, fines of up to 5% of your company’s worldwide turnover or £10 million (whichever is higher) and possible imprisonment.
What steps you can take
With both mandatory and voluntary reporting regimes, plus a broad scope and complex definitions, the regulations must be navigated carefully. Our online checker, developed in partnership with Mishcon de Reya, offers a series of simple questions to help you understand whether notification under the NSI Act is likely to be required or at least considered for your transaction.
Once completed, the checker will send you a brief report summarising the results and offer you a complimentary follow up call with Mishcon de Reya or Taylor Vinters to discuss any next steps required.
Please note that you will be re-directed to the Mishcon de Reya website. Also, the online checker is not exhaustive and the results of the questionnaire do not constitute legal advice.