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Government considering relaxing strict national security takeover rules
The government is reportedly considering relaxing national security takeover rules to make them more “business friendly”, less than two years after they were introduced.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
It will form part of a review, conducted by deputy prime minister Oliver Dowden, aimed at “narrowing and refining” the National Security and Investment Act. Speaking to the Financial Times, he said he wanted to ensure government regulation keeps up with the “dynamism of private sector”, and that the state applies “as little regulatory burden necessary”.
The rules cover a number of sectors that could have national security implications – including military technology, energy, computing and even some transport. Among the deals being used to scrutinise the merger between Vodafone and the Hong Kong-owned CK Hutchison.
The UK brought in the new screening powers back in January 2022 to address security concerns that overseas powers were too easily able to buy UK companies with national significance in technology and other industries.
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