Citation

1. These Regulations may be cited as the National Security and Investment Act 2021 (Commencement No. 2 and Transitional and Saving Provision) Regulations 2021.

Interpretation

2. In these Regulations—

“ the 2002 Act ” means the Enterprise Act 2002( 2 );

“ the 2021 Act ” means the National Security and Investment Act 2021;

“ commencement day ” means 4th January 2022.

Provisions coming into force on the commencement day

3. The provisions of the 2021 Act, in so far as they are not already in force, come into force on the commencement day.

Transitional and saving provision in relation to the 2002 Act - intervention notices

4. —(1) Paragraph (2) applies where—

(a) before the commencement day, the Secretary of State has given—

(i) an intervention notice under section 42(2)( 3 ) of the 2002 Act;

(ii) a special intervention notice under section 59(2)( 4 ) of that Act; or

(iii) a European intervention notice under section 67(2)( 5 ) of that Act;

(b) that notice states that the Secretary of State has reasonable grounds for suspecting that it is, or may be, the case that arrangements are in progress or in contemplation which if carried into effect, will result in the creation of a relevant merger situation or a special merger situation (as the case may be); and

(c) that notice states that the Secretary of State believes that it is or may be the case that the interests of national security, being a public interest consideration specified in section 58(1) of the 2002 Act, are relevant to the consideration of the merger situation referred to in sub-paragraph (b).

(2) Nothing in the 2021 Act has effect in relation to the proposed merger set out in the notice described in paragraph (1), and, accordingly, the 2002 Act continues to have effect in relation to the proposed merger, disregarding the effect of any amendment made to the 2002 Act by the 2021 Act.

Transitional and saving provision in relation to the 2002 Act – relevant merger situations

5. —(1) Paragraph (2) applies where immediately before the commencement day the Competition and Markets Authority—

(a) is carrying out its function of deciding whether to make a reference under section 22 or 33 of the 2002 Act in relation to a relevant merger situation in a case where the initial period as defined in section 34ZA(3)( 6 ) of that Act has begun; or

(b) has made a reference under section 22 or 33( 7 ) of that Act in relation to a relevant merger situation.

(2) The 2002 Act continues to have effect in relation to the relevant merger situation concerned, disregarding the effect of any amendment made to the 2002 Act by the 2021 Act.