On 20 July 2022, UK GVT updated guidance about the national security and investment act to include guidance for new build downstream gas, electricity assets.

• On same date, UK GVT updated downstream oil details in guidance on the 17 types of notifiable acquisitions under the national Security and Investment act 2021.
• And published guidance for new build downstream gas and electricity assets
• This guidance helps developers of new build downstream gas and electricity infrastructure to understand scope of the national security and investment act 2021.
• Companies operating in the downstream gas and electricity sector should be aware of the NSI act when acquiring, selling and developing qualifying entities and assets.
• Guidance relates to new build infrastructure only, not acquisition of entities.
• Nor does it cover the acquisition of existing assets under the NSI act 2021.
• Follows issue on 19 July 2022 of national security and investment (NSI) act market guidance notes, based on analysis of the notifications received under the NSI act.
• And based on feedback from stakeholders on their experience of the system.
• Guidance covers avoiding common notification errors; submitting a single notification for multiple acquisitions; help for higher education institutions deciding to notify.
• Temporary acquisitions of control; appointment of liquidators or other insolvency measures; if certain types of acquisitions may be qualifying acquisitions under NSI act.
• Granting of security over shares; indirect acquisitions of control; different types of voting rights and mandatory notification; internal corporate reorganizations.
• How/when UK GVT will publish information on NSI act; review of NSI act processes.