On January 23, the European Union (Withdrawal Agreement) Bill became an Act of Parliament and is now legally binding in the UK. The purpose of this legislation is to give binding force to the withdrawal agreement that was made between the UK and the EU on October 19, 2019.
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Withdrawal Act
UK and EU Publish Draft Brexit Withdrawal Agreement
On November 14, a technical agreement was reached between the negotiators of the UK and the EU in relation to the terms of the withdrawal of the UK from the EU (the Withdrawal Agreement). Published alongside the Withdrawal Agreement was a non-binding Political Declaration, providing an overview of the intended future relationship between the UK and EU.
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Draft Financial Regulators’ Powers Regulations 2018 Published
On July 16, a draft of the Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 was published. The publication of the draft regulations follows the making of the first delegated legislation under the European Union (Withdrawal) Act 2018 earlier this month (discussed in the Corporate & Financial Weekly Digest edition of July 13, 2018) and provides one of the first indications of the UK approach to “onshoring” EU legislation as part of the United Kingdom’s withdrawal from the European Union (Brexit).
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UK’s EU Withdrawal Act Receives Royal Assent
On June 26, the European Union (Withdrawal) Act 2018 (Withdrawal Act) received royal assent, which is the final stage for approving UK parliamentary bills.
The Corporate & Financial Weekly Digest edition of July 14, 2017 included a substantive review of the Withdrawal Act. Notably, the House of Commons amended that bill to require that any…