On 11 November the Government introduced the National Security and Investment Bill into Parliament. Subject to Parliamentary approval, the Bill will update the Government’s powers to scrutinise and intervene in business transactions, such as takeovers, to protect national security.
The Bill proposes to create a mandatory notification requirement for certain types of transactions in key sensitive sectors, of which Quantum Technologies is one. This will require those making investments in the sector to notify and receive approval from government before completing certain types of transactions.
As a result, Government will be automatically informed of potential transactions in sensitive technology areas and will be able to take action to investigate and mitigate any national security risks. It is worth clarifying however, that the vast majority of transactions are not expected to be called in.