UK to increase powers to block foreign investments
Published Date: 11/11/2020
Source: news.yahoo.com
The British government plans to increase its power to block or modify foreign investment in the U.K. on national security grounds under legislation to be introduced Wednesday. The National Security and Investment Bill would require businesses to notify the government about deals in sensitive industries, including defense, transportation, communications and artificial intelligence. The government will then have 30 days to review the transactions and impose conditions on those deemed to pose a risk to national security.