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NSIA 2021: UK Government Call for Evidence response and May 2024 guidance—secured lending, automatic share charge enforcement and Scots law share pledges

Published on: 23 April 2024

Published by a LexisNexis Banking & Finance expert
Legal News
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Article summary

What is the background to the government’s response?

In November 2023, the government launched a call for evidence to assess how the NSIA 2021 regime functions in practice. Its objective is to refine the framework so it is more accommodating to business while preserving—and sharpening—national security safeguards, especially given the worsening international climate in recent years. The exercise closed on 15 January 2024. It drew 110 complete submissions: 41% from law firms, 15% from trade bodies and business representative organisations, 15% from banks or investors, 11% from companies active within the 17 National Security and Investment (NSI) mandatory sectors, and 7% from academic and research institutions. The government’s reply identifies the strands it expects to progress in view of the feedback. Of specific relevance to the lending market are automatic enforcement provisions and Scots law share pledges...

What key areas are the government looking at?...

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