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This Practice Note tracks transactions in which the UK government has intervened on national security grounds under the National Security and Investment Act 2021 (NSIA 2021).

Information on the NSIA 2021 can be found in the following Practice Notes:

1. •

   The National Security and Investment Act 2021

2. •

   The National Security and Investment Act—implications for finance transactions

3. •

   FAQs for insolvency professionals on the National Security and Investment Act 2021

Under NSIA 2021, s 26, where a transaction has been called-in for review (whether following a mandatory notification, voluntary notification, or pursuant to its call-in power), the government must, before the end of the assessment period, either:

1. •

   make a final order, provided it considers that both a trigger event under the NSIA 2021 and a risk to national security has occurred or will occur (as applicable), or

2. •

   issue a final notification that no further action will be taken

NSIA 2021, s 26 specifies that a final order may include:

1. •

   provision requiring a person, or description of person,