• DEN CRG published consultations on draft new procedural order, draft confidentiality and disclosure notice for foreign investments, list of authorities, and overview letter.
• Follows DEN PRL March 2023, adopted bill on cross-border transactions.

Summary

• Order on procedures for applications for permits for foreigners direct investments and special economic agreements as well as notification of foreign direct investments and special economic agreements, etc covers applications for authorizing investments.
• Also covers special economic agreements, and foreign direct investment notification.
• Order on disclosure of confidential information on certain foreign direct investments, etc. in Denmark to other authorities applies to information sharing with authorities.
• Should be viewed in conjunction with draft Act amending the investment screening act and the Act on the complaints board for public procurement (L127, 3 May 2023).
• Proposes phased application/notification processing under Investment Screening Act.
• Under article 6 of bill, DEN CRG may lay down application/notification procedure rules.
• Will enable provision for determining information to be included in the submission of application/notification for phase 1 plus any further information in phase 2 screening.
• Consultation includes updated list of authorities in Denmark, EU/EEA, allied countries for disclosure of confidential information; proposes EC and Danish regions are added.

Next Steps

• Order 1454 on permission for/notification of foreign direct investments or economic agreements, and 1455 on disclosure of confidential information will both be repealed.
• It is proposed that the executive orders will enter into force on 1 July 2023.

Effectiveness

• Responses are invited for both consultations, until 9 June 2023.