National Security and Investment Act 2021

61 Annual report

(1) The Secretary of State must, in relation to each relevant period—

(a) prepare a report in accordance with this section, and

(b) lay a copy of it before each House of Parliament as soon as is practicable after the end of that period.

(2) Each report must provide details of—

(a) the expenditure incurred by the Secretary of State in giving, or in connection with giving, financial assistance falling within section 30,

(b) the amount of the actual or contingent liabilities of the Secretary of State at the end of the relevant period in respect of such financial assistance,

(c) the number of mandatory notices accepted,

(d) the number of mandatory notices rejected,

(e) the average number of working days—

(i) from receipt of a mandatory notice to notification of a decision to accept that notice, and

(ii) from receipt of a mandatory notice to giving written reasons for a decision to reject that notice,

(f) the sectors of the economy in relation to which mandatory notices were given,

(g) the number of voluntary notices accepted,

(h) the number of voluntary notices rejected,

(i) the average number of working days—

(i) from receipt of a voluntary notice to notification of a decision to accept that notice, and

(ii) from receipt of a voluntary notice to giving written reasons for a decision to reject that notice,

(j) the sectors of the economy in relation to which voluntary notices were given,

(k) the number of call-in notices given,

(l) the sectors of the economy in relation to which call-in notices were given,

(m) the number of final notifications given,

(n) the number of final orders made,

(o) the number of final orders varied,

(p) the number of final orders revoked.

(3) “Relevant period” means—

(a) the period beginning with the day on which this section comes into force and ending with the following 31 March, and

(b) each subsequent period of 12 months.