Clifford Chance Withdrawal Agreement

Sep 14 2021

The UK is preparing to leave the EU on 31 January 2020 at midnight Eastern European Time. The EU and the UK will then have until 31 December 2020, the end date of the transitional period provided for in the Withdrawal Agreement, to negotiate an agreement on their future relationship. If such an agreement is not reached, it would result in another “Cliff Edge” no-deal scenario. The deal (reached on September 11, 2020) has been hailed as “historic” by the UK government and is the UK`s first major trade deal after Brexit. In Japan, the UKJCEPA has been praised for ensuring business continuity with the UK after Brexit. Since the entry into force of jeepa in February 2019, Japan and the United Kingdom each have better access to each other`s markets, but as soon as the transitional period for Brexit takes place on 31 December 2019. The benefits enjoyed by both parties under the JEEPA also apply at the end of 1 December 2020. The United Kingdom and Japan have reached an agreement in principle on the Comprehensive Economic Partnership Agreement between the United Kingdom and Japan (UKJCEPA). The UKJCEPA is expected to be based to a large extent on the CURRENT CEPOL (CEEPA), but there will be some notable differences.

Visit our special Brexithub for more information and resources. While we have to wait until the full text of the UKJCEPA (expected in October) understands exactly what has been agreed, the announcements made by both governments give some strong indications of what to expect. We look at the steps taken by both sides to prepare for this next round of negotiations and what can be expected in the coming months. The following documents can be compared to black information: (i) the revised political declaration; and (ii) the Protocol on Northern Ireland. . The British government failed to secure the agreement of the House of Commons on the Withdrawal Agreement during the third attempt (although the previous two contained the political declaration). . This briefing outlines the next steps, possible alternatives and their effects. This briefing discusses the changes to the law and their potential impact on the course of Brexit. From 31 December 2020 (the date on which the transitional period for Brexit will end), the UK will be treated like any other “third country” if there is no Brexit trade agreement for financial services, no concessions and no equivalence provisions. .

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