Question to the Cabinet Office:

To ask the Minister for the Cabinet Office, how often action has been taken against third parties under the National Security and Investment Act 2021 in the last two years.

The Government has powers under the National Security and Investment Act 2021 (NSIA) to scrutinise and, where necessary, intervene in acquisitions of control over entities and assets in or linked to the UK that may pose national security risks. We will not hesitate to use our powers to protect national security where we identify concerns.

The National Security and Investment Act Annual Report 2022-23 shows that in the period April 2022- March 2023, 65 cases were called in for scrutiny and 15 final orders were made. 2 final orders have been made since March 2023.

The 2022 Annual Report, covering January 2022 to March 2022, shows that over that time period 17 acquisitions were called in for scrutiny and no final orders were made.

In both reporting periods, no penalties were issued, and no criminal penalties were sought.

Figures for the financial year 2023-24 will be published in the next Annual Report.