Shearman & Sterling LLP | FinReg | UK Legislation Published Implementing Revised Brexit Deal
Financial Regulatory Developments Focus
This links to the home page
Financial Regulatory Developments Focus
  • UK Legislation Published Implementing Revised Brexit Deal

    The European Union (Withdrawal Agreement) Act 2020 has received Royal Assent and has been published by the U.K. Government. The EUWA Act 2020 implements the revised Withdrawal Agreement agreed between the EU and the U.K. last October and provides for that Agreement to have direct legal effect in the U.K. Subject to final EU sign-off, the U.K. is scheduled to leave the EU with this deal on January 31, 2020.

    The EUWA Act 2020 amends the European Union (Withdrawal) Act 2018 to give effect to the revised implementation or transitional period, which will begin on the day the U.K. leaves the EU and end on December 31, 2020. During the implementation period, EU laws will apply in the U.K. as they do now. New EU laws that are implemented during the implementation period will either apply directly or be implemented by the U.K. into its laws until the end of the implementation period. Although the Withdrawal Agreement provides for an extension of the implementation period of up to two years, if agreed before July 31, 2020, the EUWA Act 2020 prohibits any minister from agreeing to any such extension.

    In addition, the EUWA Act 2020 implements into U.K. law the separation agreement between the U.K. and the EEA EFTA countries and the Swiss Citizens' Rights Agreement.

    View the EUWA Act 2020.

    View details of the EUWA 2018.

    View details of the revised Withdrawal Agreement.

    Return to main website.