Brexit, first impression
The UK electorate’s vote to leave the European Union is an important decision. At this point, it is difficult to predict how that exit will be managed and affected, and what the precise implications will be for commercial parties.
The UK has not started the withdrawal process. Under Article 50 EU Treaty, Notice has to be given to the European Council. Negotiations have to take place on the withdrawal agreement and the new relationship. The withdrawal date would be the date set out in the withdrawal agreement or if earlier 2 years from the date of the notice – although this date can be extended by agreement.
However what is clear is that while the details of any UK exit are being ironed out, which could take two (or more) years, commercial parties may face legal uncertainty. Furthermore, whatever form a Brexit might ultimately take, there is likely to be an impact on the legal rights and obligations of commercial parties in all sectors, as well as the wider legal framework.
How we may assist you. We will continue to monitor the progress of the negotiations between the UK and the rest of the EU and advise you to review:
– Your arrangements with suppliers, customers and others involving the UK to ensure that you are addressing any issues.
-Personnel matters: Consider whether you need to make changes in arrangements with employers (concerning free movement of persons).
-Legal Structure: research whether a change is needed in the legal structure.
We are ready to assist in these challenging times. If you have any queries in relation to Brexit and its possible implications for your business, please contact André Brantjes + 31 6 28266521. (email@example.com)