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This week’s edition of Corporate highlights includes the latest updates on Brexit, reports by ECON on Commission proposals to upgrade the European Supervisory Agencies framework, and an annual report from ESMA on the application of accepted market practices in accordance with the Market Abuse Regulation. Also included is a Commercial news analysis reflecting on the Law Society’s reply to Law Commission’s consultation on electronic execution of documents.
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SI 2019/Draft: This draft enactment is laid in exercise of legislative powers under the European Union (Withdrawal) Act 2018 (EU(W)A 2018) in preparation for Brexit. It proposes to amend primary and subordinate legislation and revoke subordinate legislation and retained direct EU legislation in the field of company law in order to address deficiencies in retained EU law which arise from the withdrawal of the UK from the EU. It also ensures that the UK’s company law framework will be able to function effectively, providing clarity and a smooth transition for business on and after exit day. It comes into force on exit day. Note that the draft enactment is identical to the draft Companies, Limited Liability Partnerships and Partnerships (Amendment etc) (EU Exit) Regulations 2018, which were published in October with the exception of some additional footnotes which reference the fact that certain Companies Act 2006definitions are to be amended by other regulations published in connection with the UK’s exit from the EU.
For further information, see: LNB News 15/01/2019 76.
The Department for Business, Energy & Industry Strategy (BEIS) has
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