Clause 15 - Requirement to consider retrospective validation without application

Part of National Security and Investment Bill – in a Public Bill Committee at 2:30 pm on 3rd December 2020.

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Photo of Chi Onwurah Chi Onwurah Shadow Minister (Business, Energy and Industrial Strategy), Shadow Minister (Digital, Culture, Media and Sport) 2:30 pm, 3rd December 2020

My understanding is that it becomes void at the point when the transaction is completed. At some point after that, the Secretary of State gives a retrospective validation, but there is nevertheless a period of one year, or however long it takes, when the transaction was void. Does that not have legal implications?