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UK competition law update: NSI Act reforms and guidance; CMA 10‑year strategy speeches; Theramex/Viatris UILs; Green Volt subsidy review—18 April 2024

Published on: 18 April 2024

Published by a LexisNexis Competition expert
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NSI Government publishes responses to the NSI call for evidence

The Cabinet Office has released the outcome of its call for evidence, launched on 13 November 2023, regarding the National Security and Investment Act 2021 (NSI Act), which invited views on how the national security and investment regime can be made more business friendly whilst maintaining and sharpening the protections needed to safeguard national security.

In light of the feedback, the government will concentrate on five areas between now and autumn 2004:

  • Publishing in May 2024 an updated statement on how the Secretary of State expects to exercise the call-in power (Section 3 Statement), to help stakeholders better understand what the government is seeking to protect and the factors the Secretary of State expects to consider when exercising the call-in power. The government is not considering a fast track process for certain types of acquirer, as requested by some respondents.
  • Issuing updated market guidance in May 2024 on topics raised by stakeholders, including the application of the NSI Act to academia and outward direct investment...

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