During the passage of the NSI Act through Parliament, the government committed to periodically publish market guidance to provide practical support for businesses engaging with the Investment Security Unit under the NSI Act.
The first edition of the market guidance was published in July 2022. Since then, the government has engaged with stakeholders to answer queries and gather feedback about their experience. Using these insights, the second edition of the market guidance provides businesses with further predictability and transparency on:
- How the government uses certain powers, such as the power to make interim orders or use the voluntary period;
- How businesses can interact with the Investment Security Unit most effectively, for example through representations, seeking voluntary periods where relevant, and providing information in notification forms; and
- Timings, including when businesses should notify the Investment Security Unit that an acquisition is being contemplated
The second edition of the market guidance incorporates the first edition published in July 2022, meaning that all the information businesses need is contained in one document.
The government will continue to engage with businesses to identify how to further improve predictability and transparency, and welcomes suggestions for topics to include in future editions of the market guidance.