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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United Kingdom | Publication | luglio 2022
In our briefing on the new Building Safety Act 2022 (BSA), we highlighted the increased profile the BSA provides to both the Building Act 1984 (Building Act) and the Building Regulations 2010 (Building Regulations), and the continuing importance of both instruments in respect of building standards.
Together, the Building Act and Building Regulations confer powers on local authorities and government agencies to ensure buildings meet certain standards in respect of health, safety and welfare. Approved Documents support them, which are given legal status by the Building Act, and these provide guidance as to how individuals and organisation can achieve compliance with the requirements set out in both pieces of legislation.
In direct response to the review of the Building Regulations and fire safety, led by Dame Judith Hackitt reviewing the Grenfell Tower Tragedy, the government passed the 2018 Amendment Regulations.
The 2018 Amendment Regulations came into force in December 2018 and introduced significant changes to the Building Regulations. Most significantly, it banned the use of combustible materials in the external walls of buildings (subject to some specific exemptions).
In the Explanatory Memorandum that was published alongside the 2018 Amendment Regulations, the government committed to review the effectiveness of the ban and obtain guidance and advice from bodies such as the Building Regulations Advisory Committee (BRAC).
A review process was undertaken in the autumn of 2019 that involved engaging a number of experts and industry stakeholders; this involved a study of the impact of the ban. The results of the study showed a continued support for the ban, but highlighted important issues such as the scope of the ban, the list of exempted components, the lack of available compliant materials and the increasing complexity of construction detailing.
The 2022 Amendment Regulations embody the government’s response to that consultation process and represent its efforts to enhance the restrictions on the use of dangerous materials in external wall systems by amending the Building Regulations. Whilst the ban will not be retrospective, it forms part of a wider and growing tapestry of fire and building safety measures focused on improving industry standards.
The 2022 Amendment Regulations were enacted on 1 June 2022 by the Secretary of State for the Department for Levelling up, Housing and Communities (DLUHC) and will come into force on 1 December 2022.
The changes made by the 2022 Amendment Regulations will not apply where a building notice or initial notice has been given (or full plans have been deposited) with a local authority before the 1 December 2022 and the work has either started by that day or starts within 6 months of the 1 December 2022.
Earlier this year, we commented on changes to the Building Regulations. The passing of the Amendment Regulations came almost 5 years after the Grenfell Tower tragedy.
As the BSA framework begins to take shape and we see more secondary legislation appear, it will be important for all market players and industry stakeholders to keep on top of the detail; the devil, after all, is in the detail.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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We are delighted to announce that Al Hounsell, Director of Strategic Innovation & Legal Design based in our Toronto office, has been named 'Innovative Leader of the Year' at the International Legal Technology Association (ILTA) Awards.
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