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Foreign Investment and National Security Act of 2007: Difference between revisions
Foreign Investment and National Security Act of 2007 (view source)
Revision as of 02:23, 11 February 2025
, 11 FebruaryText replacement - "George W. Bush" to "George W. Bush"
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| enacted by = 110th | | enacted by = 110th | ||
| effective date = July 26, 2007 | | effective date = July 26, 2007 | ||
| signedpresident = | | signedpresident = George W. Bush | ||
| signeddate = July 26, 2007 | | signeddate = July 26, 2007 | ||
}} | }} | ||
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==Implementation== | ==Implementation== | ||
The act was implemented by President | The act was implemented by President George W. Bush's {{ExecutiveOrder|13456}} on January 23, 2008.<ref name="crsRL33312"/> The Act addresses many of the issues that have been the focus of concern since the 2005 report: it establishes transaction-specific and general Congressional notification requirements, creates rules that dictate how applications before CFIUS may be withdrawn, and specifically includes energy supplies among critical US assets requiring special consideration. | ||
More generally, the bill establishes more stringent rules for the review and formal investigation of transactions, especially those involving foreign governments or critical infrastructure assets. It also requires senior-level involvement in various required certifications and reports, limiting the agencies' delegation authority. In general, then, the bill's provisions convey the seriousness with which Congress expects the CFIUS agencies to approach future reviews. | More generally, the bill establishes more stringent rules for the review and formal investigation of transactions, especially those involving foreign governments or critical infrastructure assets. It also requires senior-level involvement in various required certifications and reports, limiting the agencies' delegation authority. In general, then, the bill's provisions convey the seriousness with which Congress expects the CFIUS agencies to approach future reviews. | ||