University research and spinouts could be caught in UK's push on national security.
The UK’s government has completed its switch-on moment for its National Security Investment Act coming into force next month.
Hosted by David and Michael at the ICAEW, UK peer Lord Callanan explained the rationale behind the move that will affect deals in 17 core sectors that might impact UK national security – similar to approval rules in the US (CFIUS), Germany, Australia and Canada.
Chris Blairs from the UK ministry running the supervision unit, BEIS, and Andy Sellars at the CSA Catapult representing entrepreneurs and researchers from a majority (9) of the affected tech areas said about a third of deals could require notifications with maybe 10 reviewed based on prior analysis, although lawyers and advisers said almost all public deals would likely be put forward.
However, the Act replaces the Enterprise Act of 2002, which has only had about a dozen cases called in for review and none blocked, including the controversial…
