Recommendation 3

The exercise of controls under the National Security and Investment Act is still at an early stage. We note reservations about the speed of some assessments under the Act and under the export control process, and we will be conducting scrutiny of how powers under the National Security and Investment Act are being used via our National Security and Investment Sub-Committee. Nevertheless, it is our view that the overall purpose of the Act in monitoring acquisitions with a view to safeguarding national security is sound. We believe that it has the potential to help meet concerns about hostile access to intellectual property, knowledge and expertise within the semiconductor industry, and such powers should be used to avoid this.