By, Cooley Alert
Since the UK’s referendum on EU membership in June 2016, there has been significant uncertainty over when the UK would leave the EU (commonly referred to as Brexit), whether the terms for departure could be agreed in time to avoid a “no deal” exit and even whether Brexit would happen at all. While these uncertainties have now been resolved sufficiently to enable Brexit to take place on 31 January and the medium term legal framework is clear, longer term uncertainty remains.
Following Prime Minister Theresa May’s formal notification of the UK’s intention to leave the EU on 29 March 2017, the country was originally due to cease to be a member state on 29 March 2019. Under Article 50 of the EU Treaty, the default position was that the EU treaties would cease to apply to the UK on that date. As a result of the UK government’s inability to win parliamentary approval of the terms of departure that it provisionally agreed with the EU in November 2018, this deadline was subsequently extended three times, to 12 April and 31 October 2019 and, most recently, to 31 January 2020. A new Withdrawal Agreement was subsequently negotiated and published on 17 October 2019. The new Conservative government’s large parliamentary majority since the general election on 12 December 2019 ensured that this new agreement (which was largely the same as the old one, except with respect to Northern Ireland) could be passed through the UK Parliament.
The new Withdrawal Agreement between the EU and the UK government, which sets out the terms for the UK’s “orderly departure” from the EU, was signed by both parties on 24 January. It will take effect as an international treaty, albeit some provisions will take direct effect and thus create directly enforceable rights…
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI