Is the US Ready for FDI from China?
- Studies in International Investment series
Edited by Karl P. Sauvant
Appendix II: Regulations Pertaining to Mergers, Acquisitions, and Takeovers by Foreign Persons; Final Rule
Friday, November 21, 2008 Part II Department of the Treasury Office of Investment Security 31 CFR Part 800 Regulations Pertaining to Mergers, Acquisitions, and Takeovers by Foreign Persons; Final Rule dwashington3 on PRODPC61 with RULES2 VerDate Aug2005 14:36 Nov 20, 2008 Jkt 217001 PO 00000 Frm 00001 Fmt 4717 Sfmt 4717 E:\FR\FM\21NOR2.SGM 21NOR2 223 224 DEPARTMENT OF THE TREASURY Office of Investment Security 31 CFR Part 800 RIN 1505–AB88 Investing in the United States President Bush signed FINSA into law on July 26, 2007, and it became effective on October 24, 2007. Section 721 authorizes the President to review mergers, acquisitions, and takeovers by or with any foreign person which could result in foreign control of any person engaged in interstate commerce in the United States, to determine the effects of such transactions on the national security of the United States. FINSA codifies aspects of the structure, role, process, and responsibilities of the Committee on Foreign Investment in the United States (‘‘CFIUS’’ or ‘‘the Committee’’) and the role of executive branch departments, agencies, and offices in CFIUS’s review of transactions for national security concerns. A brief summary of major aspects of the statute follows. FINSA formally establishes CFIUS in statute. (Previously, the sole basis for the existence of CFIUS had been Executive Order 11858 of May 7, 1975, 40 FR 20263, 3 CFR, 1971–1975 Compilation, p. 990.) FINSA specifies the following as members of CFIUS: The Secretary of the Treasury (who serves as chairperson)...
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