House of Commons · Written Ministerial Statement
Business Update
22 June 2020 · Department for Business, Energy and Industrial Strategy
Proposed by Alok Sharma Con Reading West
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- Government amending the Enterprise Act 2002 through secondary legislation.
- Introducing a new public interest consideration for pandemic response businesses.
- Lowering intervention thresholds for mergers in sensitive sectors like AI and cryptographic technology.
Issue summary
The Government is amending the Enterprise Act 2002 through secondary legislation to enhance its ability to intervene in mergers and acquisitions that pose risks related to public health emergencies and national security.
Action requested
The minister announces two new Orders: one introducing a new public interest consideration for businesses involved in pandemic response, and another lowering intervention thresholds for mergers in sensitive sectors like artificial intelligence and cryptographic authentication technology. These measures will come into effect soon after being laid before Parliament.
Key facts
- The Enterprise Act 2002 (Specification of Additional Section 58 Consideration) Order 2020 introduces a new public interest consideration for mergers involving businesses with roles in combating public health emergencies.
- The draft Enterprise Act 2002 (Share of Supply Test) (Amendment) Order 2020 lowers the thresholds for intervention to £1 million turnover and one quarter share of supply in sensitive sectors like artificial intelligence, cryptographic authentication technology, and advanced materials.
- These Orders aim to address national security risks arising from mergers in critical sectors affected by the pandemic.