23 December 2021
A new national security screening regime comes into effect on 4 January 2022 which gives the Government the power to assess certain transactions for national security risks. The new rules apply if there is a "change of control" in relation to entities operating in certain specified areas of the economy that are deemed sensitive to national security and those closely linked. The rules also apply to a "change of control" in relation to certain types of assets.
This briefing provides a snapshot of the issues to consider for financing transactions or arrangements involving a "change of control" in one of the specified sensitive sectors or closely linked.