UK Law and Practice Contributed by: Alex Stratakis and Marc Freedman, Van Bael & Bellis
• Consulting on updates to the mandatory notification areas, including providing clearer definitions (particularly for AI and advanced materials), improved guidance on their inter - pretation (particularly for defence and critical suppliers to government) and the potential addition of new areas such as semiconduc - tors, critical minerals and water. • Considering technical exemptions to the mandatory notification requirement where, for example, certain types of transactions confer either minimal levels of – or no additional – control, such as exempting the appointment of liquidators, official receivers and special administrators from the regime (the govern - ment has confirmed it will bring forward secondary legislation to address this) and considering other possible targeted exemp - tions, such as for intra-group reorganisations or for those transactions involving public bod - ies or Scots law share pledges. • Improving the operation of the NSI system, such as changes to the ISU’s operational processes, the notification forms and the NSI Notification Service portal.
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