National Security and Investment Bill — New Clause 6 — Dedicated Small to Medium Enterprise Support — 20 Jan 2021 at 17:00

The majority of MPs voted against setting up a special division to provide support to any small to medium sized enterprises impacted by the law enabling the Government to intervene in corporate acquisitions, mergers or investments deemed to risk national security.

MPs were considering the National Security and Investment Bill.^[1][2]

The proposed new clause rejected by the majority of MPs in this vote was titled: Dedicated Small to Medium Enterprise support and stated:

• (1) Within 3 months of this Act receiving Royal Assent the Secretary of State must set up, a specific division focused on engagement with Small to Medium enterprises (SMEs) engaged in any provisions of this Act.
• (2) The division must focus on four functions—
• (a) providing updated, efficient and accessible guidance specific to SMEs on compliance with the terms of this Act;
• (b) engaging with SMEs in advance of formal notification that can allow efficient notice and assessment periods, including through use of regulatory sandboxes where beneficial for innovation and national security;
• (c) providing regular engagement with and assistance to SMEs throughout the assessment periods for SMEs;
• (d) seeking to deliver prompt, proportionate resolution of complaints by SMEs relating to the provisions of this Bill;
• (e) monitor the impact on access to investment for SMEs and report to the Secretary of State.”

The rejected new clause was accompanied by the following explanatory statement from its proposer:

• This new clause would require the Secretary of State to set up a Small to Medium Enterprise (SME) engagement unit to assist and support SMEs through the national security screening process.

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• [1] Parliament's webpage on the National Security and Investment Bill , Parliament.uk
• [2] Explanatory notes to the National Security and Investment Bill , 11 November 2020, Parliament.uk

Debate in Parliament |