Acquisition of shares in Reaction Engines Limited by Tawazun Strategic Development Fund LLC: notice of Final Order
Published 2 September 2022
漏 Crown copyright 2022
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1. 皇冠体育app Parliamentary Under Secretary聽for Business, Energy and Industrial Strategy (鈥渢he Minister鈥�) has made a final order pursuant to section 26聽of the National Security and Investment Act 2021 (鈥渢he Act鈥�), which comes into force at 13:00 on 02 September 2022.
2. 皇冠体育app Parties who are subject to the order are:
i. Reaction Engines Limited
ii. Tawazun Strategic Development Fund LLC (鈥渢he Acquirer鈥�)
3. 皇冠体育app Acquirer proposed to acquire shares in Reaction Engines Limited.
4. This constitutes a trigger event under section 8(8) of the Act.
5. 皇冠体育app order has the effect of allowing the acquisition of shares in Reaction Engines Limited by Tawazun Strategic Development Fund LLC subject to provisions designed to mitigate the risk to national security.
6. 皇冠体育app Minister considers that:
i. the technology developed by Reaction Engines Limited has dual use applications.
ii. there is potential that sensitive IP could be covertly accessed by hostile actors, leading to military uplift which may present a national security threat to the UK.
7. 皇冠体育app Minister considers that the provisions set out in the final order are necessary and proportionate to mitigate the risk to national security.