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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Global | Publication | November 2017
The government has introduced a new requirement that both commercial and domestic rented property must achieve a minimum energy efficiency standard (MEES).
The required standard is an “E” Energy Efficiency Certificate (EPC) rating or higher. An EPC is a certificate containing information about the energy efficiency of a building and must usually be obtained when a building is constructed, sold, rented out or modified in a particular way. EPC energy ratings are on a scale of A-G with A being the most energy efficient.
With some exceptions, a property that does not achieve an E or higher rating is a “sub-standard” property and must not be let until the landlord carries out “relevant” energy efficiency improvements to bring the property to the required standard. Limited exemptions are available but must be registered in a central public register.
As to timing, a landlord cannot grant a new lease or tenancy of sub-standard premises on or after April 1, 2018. Properties that are already let have a little longer to comply: April 1, 2020 in the case of domestic property and April 1, 2023 in the case of commercial premises.
For further information please contact Sian Skerratt-Williams or your usual contact at Norton Rose Fulbright.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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