ENGLAND & WALES Law and Practice Contributed by: James Ross, Paolo Palmigiano, Debbie Cloake, Helen Farr, Debbie Heywood and Louise Popple, Winston Taylor
Winston Taylor 5 New Street Square London EC4A 3TW United Kingdom
Tel: +44 20 7300 7000 Fax: +44 20 7300 7100 Email: london@winstontaylor.com Web: www.winstontaylor.com
1. Legal System 1.1 Legal System and Judicial Order
2. Restrictions on Foreign Investments 2.1 Approval of Foreign Investments While the UK does not have a specific foreign invest - ment regime, in 2022 it introduced the National Secu- rity and Investments Act 2021 (NSIA), which applies to investors of any country, including UK investors. There is a requirement for a mandatory notification if the target is active in one of 17 key sectors of the economy (and within the definition of those sectors in the Act). Clearance must be obtained prior to closing (with substantial fines for non-compliance). The 17 sectors are:
The UK is a common-law jurisdiction, primarily built on case law, where the outcomes of previous legal cases set precedents for future cases. The UK courts are arranged in a hierarchy. At the base are magistrates’ courts and county courts, dealing with minor criminal offences and civil matters, respectively. Above these are the Crown Court and High Court, which handle more serious criminal cases and significant civil dis - putes. The Court of Appeal sits above these courts and reviews cases from them to ensure the correct appli- cation of law. The Supreme Court is the highest court in the UK; it provides final judgments on points of national importance and clarifies laws that affect eve - ryone. There are also specialist tribunals – eg, for employ- ment and immigration. These tribunals make deci- sions within their specific field but can be appealed to the higher courts. While judges create common law, statues passed by the UK Parliament take precedence over all case law. This combination of statute law and common law ensures both a democratic input from Parliament and a detailed interpretation by judges based on prec- edent.
• advanced materials; • advanced robotics; • artificial intelligence (AI); • civil nuclear; • communications; • computing hardware;
• critical suppliers to government; • cryptographic authentication; • data infrastructure; • defence; • energy; • military and dual use; • quantum technologies; • satellite and space technologies; • suppliers to the emergency services; • synthetic biology; and • transport.
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