ARTICLE · 12 MARCH 2024

New Irish FDI Screening Regime: Key Points

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The Screening of Third Country Transactions Act 2023 (the "Act") will establish a new FDI screening regime in Ireland. The Act was signed into law by the Minister for Enterprise...

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The Screening of Third Country Transactions Act 2023 (the "Act") will establish a new FDI screening regime in Ireland. The Act was signed into law by the Minister for Enterprise, Trade and Employment (the "Minister") on 31 October 2023 and the current expectation is that it will come into force in Q2 2024. The Act is designed to implement the EU Investment Screening Regulation (2019/452) ("the EU FDI Regulation") and ensures that the Irish Government has the necessary legal powers to screen investments by 'third country' (ie, non-EU, EEA and Switzerland) undertakings and individuals in certain key infrastructure assets with an Irish nexus, eg, investments into critical utilities and infrastructure sectors, high-tech and personal data focussed businesses, and media businesses.

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