The Inward Investment Screening Regime Has Commenced

After some delay, the Screening of Third Country Transactions Act 2023 which was signed into law on 31 October 2023 commenced on 6 January 2025.

What You Need to Know

• New Irish legislation mandates the review of certain investments in critical sectors that may pose risks to national security or public order.
• Transactions involving third country undertakings that acquire control of assets or undertakings in Ireland must be notified to a designated Irish government minister.
• The legislation permits such transactions to be reviewed, modified or even terminated by the designated government minister.

Background

After some delay, the Screening of Third Country Transactions Act 2023¹ (the "Act") which was signed into law on 31 October 2023 commenced on 6 January 2025.