OBS_VALUE: The Screening of Third Country Transactions Act 2023 will commence on 6 January 2025.The Act encompasses any transaction, acquisition, agreement or other economic activity resulting in a change of control of an asset in Ireland or the acquisition of all or part of any interest in an undertaking in Ireland.  Such transactions are notifiable on a mandatory basis if they meet all the following criteria:A third country undertaking, or a person connected with such an undertaking, as a result of the transaction:acquires control of an asset or undertaking in the State; orchanges the percentage of shares or voting rights it holds in an undertaking in the State from: (a) 25 per cent or less to more than 25 per cent; or (b) 50 per cent or less to more than 50 per cent;The transaction relates to, or impacts upon, one or more of the relevant matters referred to in points (a) to (e) of Article 4(1) of the Regulation (EU) 2019/452;The same undertaking does not, directly or indirectly, control all the parties to the transaction; andThe cumulative value of the transaction in question, as well as any other transaction between the relevant parties (or persons connected to them) in the 12 months prior to the signing of the transaction, is equal to or greater than an amount to be specified by the Minister.Furthermore, under the Act, the Minister has broad discretion to ‘call in’ transactions for review regardless of whether they are notifiable or notified if the Minister has reasonable grounds for believing that they would affect, or would be likely to affect, the security or public order of Ireland.