National Security and Investment Act 2021

4 Consultation and parliamentary procedure

(1) Before the Secretary of State may publish a statement for the purposes of section 3 the Secretary of State must—

(a) carry out such consultation as the Secretary of State thinks appropriate in relation to a draft of the statement,

(b) make any changes to the draft that appear to the Secretary of State to be necessary in view of the responses to the consultation, and

(c) lay the statement before Parliament.

(2) Either House of Parliament may at any time before the expiry of the 40-day period resolve not to approve the statement.

(3) If either House of Parliament resolves not to approve the statement under subsection (2), the Secretary of State must withdraw the statement.

(4) Any such resolution under subsection (2) does not affect the validity of a call-in notice given following the publication of the statement prior to its withdrawal, and does not affect the publication of a new statement.

(5) “The 40-day period” is the period of 40 days beginning with the day on which the statement is laid before Parliament (or, if it is not laid before each House of Parliament on the same day, the later of the days on which it is laid).

(6) When calculating the 40-day period, ignore any period during which Parliament is dissolved or prorogued or during which both Houses are adjourned for more than 4 days.

(7) The requirements in subsection (1)(a) and (b) may be met by consultation carried out before this section comes into force.