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UK competition and NSI: NAR reform consultation, reorganisation/insolvency exemptions, 2024–25 Annual Report, CMA Aramark/Entier phase 2, subsidy control appeal, private abuse claim (22 July 2025)

Published on: 22 July 2025

Published by a LexisNexis Competition expert
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NSI Act Government consults on proposed reforms to the NSI Act 2021 mandatory notification regime

The UK Government has opened a consultation on changes to the National Security and Investment Act 2021 (Notifiable Acquisition) (Specification of Qualifying Entities) Regulations 2021 (the NARs), which determine when a mandatory notification is required under the NSI Act. This follows the Government’s 2024 statutory review and prior engagement with stakeholders through the 2023 Call for Evidence. The package sets out targeted refinements to keep the regime proportionate and effective at capturing national security risks in sensitive areas of the UK economy, whilst ensuring the overwhelming majority of deals proceed unaffected.

Key proposals include:

  • New standalone mandatory notification areas: creation of distinct categories for Semiconductors and Critical Minerals, both currently within the Advanced Materials sector; and relocating Computing Hardware, now a standalone sector, into the Semiconductors category.
  • New sector added: introduction of a mandatory notification area for the Water sector, focused on acquisitions of water operating companies...

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