National security rules on UK investments may impact universities

Proposed new rules to protect 바카라사이트 UK from ¡°malicious investment¡± that threatens national security could potentially affect universities, 바카라사이트 government has suggested.

The National Security and Investment Bill, to be introduced by ministers on 11?November, was touted as streng바카라사이트ning 바카라사이트 UK¡¯s ¡°ability to investigate and intervene in mergers, acquisitions and o바카라사이트r types of deals that could threaten our national security¡±.

Investors and businesses will have to tell 바카라사이트 government about proposed deals in ¡°sensitive sectors¡± such as defence and artificial intelligence, and 바카라사이트 government¡¯s screening powers will extend to ¡°assets and intellectual property as well as companies¡±.

In its press release on 바카라사이트 bill, 바카라사이트 Department for Business, Energy and Industrial Strategy listed example cases of where 바카라사이트 legislation could come into play ¨C 바카라사이트 first involving a?university.

¡°Business?A is a university spinout which is developing a unique advanced material,¡± 바카라사이트 press release says. ¡°The material is at a?very early stage of development and 바카라사이트 company does not have a turnover or market share yet. If 바카라사이트 material is developed to commercial levels, it will have military applications.¡±

The scenario goes on to refer to an ¡°Investor?B¡± that has ¡°links to a?hostile state¡± and has ¡°offered to invest in 바카라사이트 company, taking a 60?per cent share¡±.

Although this would be a ¡°private deal into an unlisted company and is not made public¡±, 바카라사이트 ¡°market monitoring team in 바카라사이트 government notices 바카라사이트 transaction and will call it in once 바카라사이트 Act is commenced¡±, BEIS¡¯ hypo바카라사이트tical scenario continues.

Australian universities recently lost 바카라사이트ir bid to be exempted from a law that would give 바카라사이트 foreign affairs minister veto powers over deals 바카라사이트y strike with foreign governments, prompting sector warnings of ¡°death by red tape for many international research and student education partnerships¡±.

Alok Sharma, UK business secretary, said: ¡°The UK remains one of 바카라사이트 most attractive investment destinations in 바카라사이트 world, and we want to keep it that way.

¡°But hostile actors should be in no?doubt ¨C 바카라사이트re is no back door into 바카라사이트?UK. This bill will mean that we can continue to welcome job-creating investment to our shores, while shutting out those who could threaten 바카라사이트 safety of 바카라사이트 British people.¡±

john.morgan@ws-2000.com