Implementation period (IP) completion day meaning

ARCHIVED: This Flowchart has been archived and is not maintained. Retained EU law is a concept introduced by the European Union (Withdrawal) Act 2018 (EU(W)A 2018) as part of Brexit preparations, establishing a new category of domestic legislation. It denotes the collection of EU‑derived rules preserved and converted into UK law under the EU(W)A 2018 (as amended) at the end of the post‑Brexit transition period (IP completion day). For background on the transition period, and what it means for retained EU law, see: In the context of Brexit, what is meant by the ‘transition or implementation period’? For further background reading on the underlying legislation, see: Practice Note: Brexit—key legislation explained News Analysis: What does IP completion day mean for the status of EU law in the UK? What is retained EU law? Retained EU law is a broad, complex legal term defined by the EU(W)A 2018. It covers anything that continues to form part of domestic law on or...

Checklist (Archived) This Checklist sets out key checks for facility and security documentation after the Brexit implementation period. ARCHIVED: This Checklist has been archived and is not maintained. When that period ended, EU law was transposed into UK law as retained EU law under the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), in most cases with only minor adjustments. See Practice Note: Retained EU law and assimilated law. Read this alongside Practice Notes: Brexit—documentary implications for facility agreements [Archived] and Brexit—impact on finance transactions [Archived]. The focus is on documentary issues and it does not capture every potential consideration for finance transactions following the end of the implementation period. For a fuller overview, see Practice Notes: What does IP completion day mean for lending lawyers? [Archived] and Brexit—impact on finance transactions [Archived]. Loss of passporting rights Issue: Loss of passporting rights Question: There is an EU27 borrower under the facilities agreement. What steps should be...

This Checklist offers practitioners a route map through the array of cross-border issues to consider when proceedings feature an international element, for example a defendant domiciled outside the jurisdiction or a contract that designates the courts of another country as having jurisdiction. Structured as a table, it poses key questions and links to underlying materials that address them. The UK’s departure from the EU has consequences for practitioners handling cross-border matters involving not only EU Member States but also contracting states to the Lugano Convention 2007 and to the Hague Convention on Choice of Court Agreements. Consequently, this Checklist also connects to pertinent Brexit content within the cross-border topic in view, and examines several Brexit-specific cross-border issues. For guidance where Brexit is not in play, see: Cross border considerations-checklist. Brexit-transition/implementation period The UK is no longer an EU Member State, following its exit at 11 pm on 31 January 2020 (exit day). Two time periods are pertinent for dispute resolution practitioners: after IP completion...

Brexit Financial Services Legislation Status Guide This guide outlines high-level information on the status of EU laws regulating the payments sector, namely: the second Electronic Money Directive (Directive 2009/110/EC) (2EMD) the Cross-Border Payments Regulation (Regulation (EC) 924/2009) (CBPR) as amended by Regulation (EU) 2019/518 (CBPR2) the Regulation establishing technical and business requirements for credit transfers and direct debits in euro and amending the CBPR (Regulation (EU) 260/2012) (SEPA Regulation) the Payment Accounts Directive (Directive 2014/92/EU) (PAD) the recast Payment Services Directive (Directive (EU) 2015/2366) (PSD2) the Interchange Fee Regulation (Regulation (EU) 2015/751) (IFR) This Practice Note should be read alongside the following Practice Notes: Impact of Brexit: Payment services and electronic money directives—quick guide [Archived] Impact of Brexit: SEPA Regulation—quick guide [Archived] Impact of Brexit: Payment accounts—quick guide [Archived] Impact of Brexit: Interchange Fee Regulation—quick guide [Archived] During the implementation period from 1 January 2020 to 31 December 2020...

This quick guide to e-commerce and financial services outlines current UK law and retained EU law on financial services e-commerce obligations that were changed and/or cancelled by the Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019, SI 2019/1361 (the E-Commerce Exit Regulations), together with other measures made at the end of the implementation period after the UK’s withdrawal from the EU. The summary below explains the Brexit arrangements for onshoring EU rules applicable to e-commerce financial services providers following Brexit. Overview of onshored and preserved EU-derived law post-IP completion day The E-Commerce Exit Regulations 2019 were laid on 25 March 2019. They sit within HM Treasury’s programme of statutory instruments under the European Union (Withdrawal) Act 2018 EU(W)A 2018, addressing contingency planning for a ‘no deal’ Brexit. These Regulations contribute to domesticating EU law so that legal continuity is maintained at the moment the UK leaves the EU. EU(W)A 2018 ‘onshores’ and keeps in force most EU and EU-derived legislation as it existed immediately before...

IP COMPLETION DAY: At 11pm (GMT) on 31 December 2020, the Brexit transition/implementation period that followed the UK’s withdrawal from the EU comes to a close. In UK law this moment is termed ‘IP completion day’. From that point, core transitional arrangements end and significant changes start to take effect across the UK’s legal framework. This note provides guidance on areas affected by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for lending lawyers? [Archived]. BREXIT: From 31 January 2020, the UK is no longer an EU Member State, but entered an implementation period during which, for many purposes, it continues to be treated by the EU as a Member State. As a third country, the UK cannot participate in the EU’s political institutions, agencies, offices, bodies and governance structures (except to the limited extent agreed), yet it must continue to meet its obligations under EU law (including EU treaties, legislation, principles and international agreements) and submit...

Applications can no longer be lodged in the courts of England and Wales to obtain evidence under Regulation (EC) 1206/2001 (the Taking of Evidence Regulation). Where an application was submitted before IP completion day (31 December at 11 pm), the evidence-gathering procedure may proceed under that Regulation, provided the Withdrawal Agreement’s transitional provisions between the UK and the EU were satisfied by that date. For guidance on those transitional rules, consult Practice Note: Brexit post implementation period—considerations for dispute resolution practitioners, especially the main section: Taking of evidence. Request for the taking of evidence (Article 4 of Regulation (EC) 1206/2001 of 28 May 2001 on cooperation between the courts of the Member States in the taking of evidence in civil or commercial matters (OJ L 174, 27.6.2001, p. 1)) 1 Reference of the requesting court: 2 Reference of the requested court: 3 Requesting court: 3.1 Name: 3.2 Address: ...

The courts of England and Wales now no longer accept any legal applications to obtain evidence pursuant to Regulation (EC) 1206/2001, commonly known as the Taking of Evidence Regulation. Where an application was lodged before IP completion day (31 December at 11 pm), the evidence-gathering procedure will continue under that Regulation if the Withdrawal Agreement’s applicable transitional provisions between the UK and the EU were satisfied in full by that date. For guidance on those transitional rules, please see Practice Note: Brexit post implementation period—considerations for dispute resolution practitioners, particularly the main section entitled Taking of evidence. Name: [ insert ] Witness Statement: [ insert ] Date: [ insert ] Exhibits: [ insert ] [ Date of translation: [ insert date ] ] Claim No. [ insert claim number ]. ...

Applications for the taking of evidence can no longer be lodged in the courts of England and Wales under Regulation (EC) 1206/2001, the Taking of Evidence Regulation. For applications submitted before IP completion day (31 December at 11 pm), the process for securing evidence will continue under that Regulation if the transitional provisions in the Withdrawal Agreement between the UK and the EU were satisfied by that date. For guidance on those transitional provisions, see Practice Note: Brexit post implementation period—considerations for dispute resolution practitioners, in particular the main section: Taking of evidence. Introduction Application notice (Form N244) Application notice—Commercial Court (Form N244(CC)) (Word) These drafting notes are to be read alongside Form N244 and are not intended for use with Form N244(CC). The application must be made in accordance with CPR 23. General points As a preliminary step, confirm whether this precedent remains available in light of the effects of Brexit...

BREXIT At 11pm (GMT) on 31 December 2020—known as ‘IP completion day’—the transition/implementation period entered into following the UK’s withdrawal from the EU came to a close. From that point onwards, key transitional arrangements came to an end and wide‑ranging changes started to take effect across the UK’s legal regime. This document provides guidance on subjects affected by these changes. Before continuing your research, see: Brexit and financial services: materials on the post‑Brexit UK/EU regulatory regime [Archived]. This Q&A assesses the impact of Brexit on passporting in the insurance sector, outlines the options available to insurers to continue to access the European Economic Areas (EEA), and highlights the factors for insurers to take into account in their contingency planning. This Q&A is produced in partnership with Clare Swirski at Clifford Chance. What are the main aspects of passporting under Solvency II?...