As Britain has decided to leave the EU, our laws in a number of areas will be changing. Despite this, there won’t be any immediate changes to the way things run in the UK and we still follow EU laws.
After there has been a national declaration of the result, the Government will give an ‘Article 50’ notice to the Treaty on the European Union which states the UK’s intention to leave the EU. From this point, there will be two years of negotiations to agree the terms of our withdrawal.
In the meantime, the UK will continue to be an EU member and will still have the same benefits and responsibilities under its membership as it did before the referendum.
We will officially leave the EU as soon as a consensus is met between the Government and other member states. In the event that an agreement isn’t reached after the two years, the member states of the EU can provide an extension to allow us to agree terms before losing the benefits of being a member state. If an extended period isn’t provided, the UK’s withdrawal would happen immediately.
We will be the first nation to leave the EU under ‘Article 50’. Our lawyers are here to provide guidance about any changes to the law that could happen, helping your business set a strategic way forward.
If you have any questions on how Brexit will affect your business, please phone 0370 1500 100 or send our Referendum team an email with any questions.
Laurence Gavin – Partner, Regulatory
Telephone: +44 (0)114 274 4605
Mobile: +44 (0)791 872 4939