On 19 December 2020, CHI NDRC issued national security measures. NDRC issued national security rules for foreign investment, consisting of 23 articles. Rules Establishes a foreign investment security review agency, led by CHI NDRC and ministry of commerce, to undertake the daily work of foreign investment security review. Will review investment in military industry, supporting…
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U.A.E. – AbuDEx Foreign Investment in Taqa Shares
On 10 November 2020, AbuDExc revised foreign share ownership limit for Taqa. AbuDExc announced Taqa shares were opened to foreign ownership, with cap of 49%. Overview Informed of new substantial shareholding limit on Abu Dhabi National Energy Company PJSC (TAQA) shares, 51% is minimum ownership for UAE nationals and for non-UAE nationals 49%. Board had…
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Australia – Consultation on Foreign Investment Reforms
On 18 September 2020, AST GVT issued two exposure drafts for stakeholder feedback. Foreign investment reform (protecting Australia’s national security) regulations 2020 and foreign acquisitions and takeovers fees imposition regulations 2020. The exposure draft on regulations includes remainder of regulations, namely on time limit of call in power, streamlining measures, integrity and technical amendments. The…
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Brazil – GVT Foreign Investments
On 31 August 2020, BRZ GVT issued rules for foreign investments. BRZ GVT published BRA CB res 4.852 of 27 August 2020 on foreign investments. Follows BRZ GVT January 2020 issued rules on home, foreign investment. Overview Amended arts 2, 4 of reg in annex I to res 4.373 of 29 September 2014 on investments…
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India – SEBI Foreign Portfolio Investors
On 31 August 2020, IND SEBI decided that for the entities from jurisdictions which are under lockdown, the temporary relaxations shall be extended until lockdown is lifted. However, in-transit applications shall be processed on the basis of previous provisions. For entities from jurisdictions where lockdown is lifted, the relaxation is not applicable.
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Australia – GVT Foreign Investment Reforms
On 31 July 2020, AST GVT consulted on exposure draft of foreign investment reform. Issued Foreign investment reform (protecting Australia’s national security) bill 2020. Bill gives effect to major reforms to the Foreign acquisitions and takeovers act 1975. Exposure draft bill includes provisions for new national security powers, integrity and technical amendments, and provisions that…
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