Source · Select Committees · Foreign Affairs Committee
Recommendation 4
4
Paragraph: 28
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
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.