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Ongoing monitoring of the global technology landscape by the FCDO should inform any future changes,...
Recommendation
Ongoing monitoring of the global technology landscape by the FCDO should inform any future changes, as needed, to (a) the sectors subject to mandatory notification under the National Security and Investment Bill, and (b) the factors to be taken into consideration by the BEIS Secretary of State when assessing transactions, as set out in the Statement of Policy Intent. We recommend that the annual report outlines how this information has been taken into account in the Secretary of State’s decisions.
Paragraph Reference
28
Government Response
Acknowledged
Government Response
Acknowledged
HM Government
Acknowledged
We note the Committee’s recommendation. In terms of changes to the global technology landscape, the FCDO will be involved in any revision of the notifiable acquisition regulations which underpin the mandatory notification system. FCDO, BEIS and all departments and agencies have a shared commitment to ensuring the areas of the economy covered by mandatory notification obligations keep pace with technological advances, as well as the constantly changing national security risks that we face.
Source
Committee
Foreign Affairs Committee
Report
Third Report - Sovereignty for sale: the FCDO’s role in protecting strategic British assets
14 Jul 2021
HC 197
Addressee Bodies
Foreign and Commonwealth Office
Timeline
Recommendation age
4.9 yrs
Report published
14 Jul 2021