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<p>Between July 2020 and January 2022, the Secretary of State for Business, Energy
and Industrial Strategy has issued Public Interest Intervention Notices under the
Enterprise Act 2002, on national security grounds, in relation to the following acquisitions:</p><p><strong>
</strong></p><ul><li><p>the proposed acquisition of Ultra Electronics Holdings plc
by Cobham Ultra Acquisitions Limited;</p></li><li><p>the proposed acquisition of The
Perpetuus Group by Taurus International Ltd and others; and</p></li><li><p>the proposed
acquisition of Meggitt plc by Parker-Hannifin corporation</p></li></ul><p><strong>
</strong></p><p>In addition, the then Secretary of State for Digital, Culture, Media
and Sport used the same powers in relation to the proposed acquisition of Arm by NVIDIA
in April 2021.</p><p><strong> </strong></p><p>Since 4 January 2022, the Government
has had powers under the National Security and Investment (NSI) Act 2021 to scrutinise
and, where necessary, intervene in acquisitions which may raise national security
concerns. These powers replaced the national security limb of public interest intervention
powers under the Enterprise Act 2002. In February 2023, responsibility for NSI moved
from the Department for Business, Energy and Industrial Strategy to the Cabinet Office,
under the Deputy Prime Minister.</p><p>The Government promised to deliver a regime
that is as business-friendly as possible while protecting our national security. The
National Security & Investment Act Annual Report demonstrates that we are succeeding
in that mission.</p><p> </p>
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