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On 24 July 2018, the UK government published details of its proposed new regime for the scrutiny of foreign investments that may have national security implications. The details are contained in the National Security and Investment White Paper and a draft Statutory Statement of Policy Intent (together, the “Proposals”). The Proposals build on the Government’s National Security and Infrastructure Investment Review Green Paper published in October 2017, which led to the introduction of “short term” reforms in June 2018. Those reforms, which would be replaced by the Proposals, gave the Government greater powers to screen mergers on national security grounds where the target is involved in the production of military or dual-use technologies or certain types of “advanced technology”.
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