Since 23 June 2016 when the British people voted to leave the European Union the conversations and topics have surrounded the momentous change to Britain’s political and economic landscape. The legal questions on the Brexit situation have been largely side-lined.
Extricating the UK from the EU legal system is one of the biggest legal issues and the process for withdrawal is not without uncertainty. No European Union Member State has ever left the EU so the process is untested. The process for withdrawal is set out in article 50 of the Treaty on the European Union and ensuring a successful ‘Brexit’ will involved disentangling the UK from complex policitico-legal, financial and other relationships and obligations.
We will examine the legal impact of Brexit.
Does the UK still have to comply with EU law?
The short answer is yes – nothing changes until the UK actually leaves the EU. During the negotiation period, the strict legal position is that the UK and businesses operating in the UK must continue to comply with EU law which is still enforceable in the UK.
Free movement of goods, people, services and capital will continue and the UK will continue to make contributions to the EU budget. The UK will be required to implement any new EU laws that are due to come into force during the negotiation period.
A number of commentators have, however, suggested that there could be a “go slow” in relation to the implementation of new EU laws during the negotiation and withdrawal period.
So, let us look at Britain’s exit from the EU through our eye’s, the view from a lawyer.
Brexit means tearing up hundreds of laws, rules and agreements governing everything from trade to immigration to agricultural subsidies. Using the shreddings as confetti as a celebration method – right? Wrong, this is a slow process which has to be carefully navigated through on all levels of business.
#stay together
An ironic heading, however we are all facing these uncertainties together, and no we don’t have all the answers but what we can do is identify the issues that will impact you and the potential scenarios and the appropriate course of action to both mitigate the impact of change and identify any new opportunities that the change produces.
#stay relevant
Given that major corporate structural changes may take up to two years to complete many Companies may need to start implementing their contingency plans well before the final shape of the deal with the EU is clear. Businesses will need to understand the likely range of issues that will affect them and what action they can take now. Brexit will affect many issues from data privacy, regulatory approvals, corporate structures, capital requirements, employee mobility, the choice of regulator, import controls and duties, supply chains and intellectual property rights.
#GetKnowledge
Keep an eye on our blogs as we produce a series of articles on the legal issues affecting different sectors and areas including actions that can be taken whilst the process of leaving the EU is underway.
In a market of uncertainty it is key to gain legal advise to navigate through it effectively, if you have any queries or require more information please contact Ferguson Legal Here. #getlawsavvy #beproactive #outsource #getbrexitsavvy
