Tackling foreign subsidies: new EU rules enter into force
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The FSR consists of three tools, which will be enforced by the European Commission:
- mandatory notification and review of transactions meeting relevant thresholds
- mandatory notification and review of public procurements meeting relevant thresholds
- own-initiative investigations of potentially distortive foreign subsidies.
The majority of the FSR will apply from 12 July 2023. However, the notification obligation for transactions and public tenders will be effective as of 12 October 2023.
Read our alert for more details.