The National Security and Investment Act 2021 (Notifiable Acquisition) (Specification of Qualifying Entities) Regulations 2021
| Jurisdiction | UK Non-devolved |
| Citation | SI 2021/1264 |
| Year | 2021 |
(1) These Regulations may be cited as the National Security and Investment Act 2021 (Notifiable Acquisition) (Specification of Qualifying Entities) Regulations 2021.(2) These Regulations come into force on 4th January 2022.(3) These Regulations extend to England and Wales, Scotland and Northern Ireland.(1) Schedules 1 to 17 specify descriptions of qualifying entity for the purposes of section 6(2) of the National Security and Investment Act 2021 (notifiable acquisitions) .(2) A qualifying entity falls within a description in the Schedules by reason of the carrying on of an activity specified in the Schedules only if it carries on the activity in the United Kingdom.In these Regulations— carry out a review of the regulatory provision contained in these Regulations; andpublish a report setting out the conclusion of the review.(2) The first report must be published before the end of the period of three years beginning with the day on which these Regulations come into force for any purpose.(3) Subsequent reports must be published at intervals not exceeding three years.set out the objectives intended to be achieved by the regulatory provision referred to in paragraph (1) (a) ;assess the extent to which those objectives are achieved;assess whether those objectives remain appropriate; andif those objectives remain appropriate, assess the extent to which they could be achieved in another way which involves less onerous regulatory provision.(5) In this regulation, “regulatory provision” has the same meaning as in sections 28 to 32 of the Small Business, Enterprise and Employment Act 2015 (see section 32 of that Act) .In this Schedule—
- “2D” means two-dimensional;
- “3D” means three-dimensional;
- “advanced composites” relates to structural composite materials with either metallic or ceramic matrices and includes 3D reinforcing architectures for any matrix (polymer, metal or ceramic) ;
- “advanced materials” means completely new materials and materials that are developments on traditional materials, where such materials provide any of the following—
- (a) targeted properties;
- (b) advantageous properties;
- (c) outstanding structural properties; or
- (d) outstanding functional properties;
- “enabler” means any material or process which is not a material described in paragraph 2(3) or 3 but is used in the manufacture or application of such materials;
- “fabrication” in sector (7) (semiconductors) of the table set out in paragraph 3 means the process of producing a microelectronic circuit on a semiconductor substrate or using other advanced materials;
- “graphene and related 2D” are those materials with attributes as defined within ISO/TS 80004-13:2017;
- “metamaterial”—
- (a) means a composite material in which the constituents are designed and spatially arranged through a rational design-led approach to change the manner in which electromagnetic, acoustic or vibrational energy interacts with the material, in order to achieve a property or performance that is not possible naturally and includes a metasurface and for this purpose “composite material” means a solid material formed from two or more constituents and “constituent” includes a region containing a vacuum, gas or liquid;
- (b) does not include the types of composite materials the advanced composites described in paragraph 5 and composites or coatings containing pigments or fillers that are mixed in or blended into a binder material where both of these...
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