Assessing the UK’s Public Interest Test in Light of Societal Uncertainty

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Assessing the UK’s Public Interest Test in Light of Societal Uncertainty

Kotamäki, Annina Julia; (2018) Assessing the UK’s Public Interest Test in Light of Societal Uncertainty. UCL Journal of Law and Jurisprudence , 7 (1) pp. 163-192. 10.14324/111.2052-1871.100. Green open access

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Abstract

This paper examines the long-standing debate on the regulation of foreign takeovers, and the protection of public interests by the government in relation to them, in light of societal uncertainty present in the UK. This uncertainty is being generated by two developments: Brexit and the rise of Artificial Intelligence. This paper argues that the task of regulating foreign takeovers should be viewed as one of balancing three objectives: the promotion of economic growth, the protection of public interest, and the management of social considerations resulting from these takeovers. Furthermore, it is argued that the current Public Interest Test should be restated for clarity and specificity. Finally, the creation of an independent body to administer the Public Interest Test and to negotiate social considerations that arise in relation to foreign takeovers is discussed, evaluated and endorsed.

Type:	Article
Title:	Assessing the UK’s Public Interest Test in Light of Societal Uncertainty
Open access status:	An open access version is available from UCL Discovery
DOI:	10.14324/111.2052-1871.100
Publisher version:	https://doi.org/10.14324/111.2052-1871.100
Language:	English
Additional information:	© 2018, The Author(s). This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC-BY) 4.0 https://creativecommons.org/licenses/by/4.0/ which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
URI:	https://discovery.ucl.ac.uk/id/eprint/10049903