The United Kingdom has voted to leave the European Union. The UK and EU will now enter into negotiations to form a new relationship. Pursuant to Article 50 of the EU Treaty, the UK should notify the European Council, and then the UK and the EU should negotiate a withdrawal agreement. If, two years from the date of notification, the withdrawal agreement has not come into force, the EU Treaty and all associated regulations will cease to apply to the UK. The same goes for a number of trade agreements which were negotiated and concluded by the EU on behalf of its member states.
Stibbe Brexit Team
Brexit brings legal uncertainty. Consequences will vary depending on the markets involved and area of law. Stibbe's Brexit team is available to advise you on all legal, regulatory and tax implications of Brexit on your business. Please get in touch with either your usual Stibbe contact or our Stibbe Brexit team for advice.