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CHECKLISTS
ARCHIVED: This Checklist has been archived and is not maintained. It considers the potential consequences of Brexit and signposts resources to prepare contracts for Brexit in advance of IP completion day. For information on the impact of IP completion day on contracts and more generally on commercial law, see Practice Notes: What does IP completion day mean for contract clauses? and What does IP completion day mean for Commercial? This Checklist of contract clauses and resources sets out the potential consequences of Brexit and considers the impact on commercial contracts. It sets out the considerations which should be given to a contract and the contractual clauses or resources which may help. This Checklist can be used when assessing existing contractual arrangements that may require attention to ensure continuity of commercially viable relationships following exit day and when negotiating contracts that are required to be fit for purpose beyond the end of the implementation period. Key commercial resources Our Brexit contract management toolkit [Archived] provides an overview of the key Brexit risk management considerations for contracts
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. It analyses the potential impact of Brexit on contractual rights and obligations for a business and considers the implications of Brexit for contract risk management in advance of IP completion day. For information on the impact of IP completion day on contracts and more generally on commercial law, see Practice Notes: What does IP completion day mean for contract clauses? and What does IP completion day mean for Commercial? This Practice Note analyses the impact of Brexit on the contractual rights and obligations of businesses and considers the implications of Brexit for contract risk management. It provides detailed guidance on assessing the contractual risk to businesses posed by Brexit and how to carry out a Brexit risk-management contract audit and contract review. See also: Brexit risk management: contract audit—checklist [Archived]. For the purpose of this Practice Note, unless expressly indicated otherwise, all references to: • ‘exit day’ are to that term as defined in the European Union (Withdrawal) Act 2018 (EU(W)A 2018), and which occurred
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note explores the effect of Brexit on UK cybersecurity with a particular focus on the network and information systems legislation. It covers: • overview of cybersecurity regulation in the UK prior to the end of the implementation period • background to Directive (EU) 2016/1148, the Network and Information Systems Directive (the NIS Directive) and UK implementation • general impact of Brexit on UK implementation of the NIS Directive • impact of the end of the transition period on relevant digital service providers (RDSPs) • an overview of the impact on qualified trust services under Regulation (EU) 910/2014 (the eIDAS Regulation) • impact of the end of the transition period on UK cybersecurity cooperation with the EU The significance of cybersecurity has been highlighted in recent years by high-profile attacks affecting businesses and public services. These involved a diverse range of attack methods, motivations and targets as explored further in Cybersecurity, threats and risk management—overview. The EU’s recognition of the importance of ensuring Member States’
PRACTICE NOTES
This Practice Note lists Q&As covering a range of issues concerning the implications of the UK’s departure from the EU that may be of interest to dispute resolution (DR) lawyers. Since 1 January 2024, retained EU law has been known as ‘assimilated law’, in accordance with section 5 of the Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023). References to retained EU law in any of these Q&As should now be read as references to assimilated law and associated terms. For information, see Practice Note: Assimilated law. Impact of Brexit on English court claims and procedures Date Q&A Brief Description 31/05/2023 Following Brexit how difficult currently is it to enforce an English court judgment in Belgium and what is the procedure to follow? This Q&A considers the different procedures for enforcing an English court judgment in Belgium. Which one applies will be dependent on the date on which the substantive proceedings were commenced. 26/03/2021 To what extent are references in contracts to UK legislation and EU legislation affected by the European Union (Withdrawal) Act
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note focuses on the impact of the end of the implementation period on facilities agreements. It discusses (or links to detailed information on): • the position of the Loan Market Association (LMA) on changes to legislative references in its documents • the general implications of the loss of passporting rights and the implications for loan agreements • governing law and jurisdiction clauses in facility agreements • how to approach references to EU law in facility agreements • whether contractual recognition of bail-in language needs to be inserted to reflect Article 55 of Directive 2014/59/EU, the Bank Recovery and Resolution Directive (BRRD) • implications for representations, undertakings, events of default and increased costs clauses (including sanctions and centre of main interests (COMI) representations and the material adverse change event of default), and • tax implications Practice Note: What does IP completion day mean for lending lawyers? [Archived] considers the impact for lending lawyers of IP completion
CHECKLISTS
ARCHIVED: This Checklist has been archived and is not maintained. For up to date guidance, see: Governing law and jurisdiction clauses in commercial contracts―checklist. Brexit: As of exit day (11pm on 31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this Checklist. For further guidance, see Brexit Bulletin—key updates, research tips and resources and Brexit collection. This Checklist considers the implications of Brexit on drafting and negotiating dispute resolution clauses. It considers the position of applicable law clauses (also referred to as governing law clauses or choice of law clauses), jurisdiction clauses, the enforcement of judgments and the service of documents. Issue and current position Drafting and negotiation implications Applicable law During the implementation period During the implementation period, when determining which law is applicable when resolving a dispute which involves EU Member States, consideration needs to be given to two EU regulations,
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. It considers the impact of Brexit on contractual boilerplate clauses in advance of IP completion day. For information on the impact of IP completion day on boilerplate clauses, see Practice Note: What does IP completion day mean for contract clauses? The United Kingdom’s withdrawal from the European Union on exit day, the implementation period, and the period beyond each have a number of implications for the drafting, negotiation and enforcement of contracts governed by English law. This Practice Note considers the impact of Brexit on boilerplate clauses specifically. ‘Boilerplate’ is the term used to describe the clauses that are included in an agreement to deal with the mechanics of how it works and those legal points that are relevant to most transactions. They are generally found at the beginning and the end of an agreement. Boilerplate clauses are often thought of as standard, miscellaneous provisions, but this is a very dangerous view to adopt. As a boilerplate clause will deal with issues such as the
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. It considers the impact of Brexit on contractual commercial clauses in advance of IP completion day. For information on the impact of IP completion day on commercial clauses, see Practice Note: What does IP completion day mean for contract clauses? The UK’s withdrawal from the EU on exit day, the implementation period and the period beyond have a number of implications for the drafting, negotiation and enforcement of contracts governed by English law. This Practice Note considers the impact that Brexit may have on business-to-business (B2B) commercial contract clauses specifically. In particular, this Practice Note looks at how Brexit may affect, change or bring about a requirement for: • warranty clause • hardship clause • force majeure clause • business continuity clause • price variation clause For the impact that Brexit may have on the drafting, negotiation and enforcement of B2B boilerplate clauses, see Practice Note: Brexit—drafting boilerplate clauses [Archived]. For the purpose of this Practice Note, unless expressly indicated otherwise, all references to: • ‘exit
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. Brexit 11 pm (GMT) on 31 December 2020 marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements came to an end and significant changes began to take effect across the UK’s legal regime. EU Emissions Trading System The EU Emissions Trading System (EU ETS) works on the cap and trade principle and is the largest ETS in the world by volume. This means there is a limit on the total amount of certain greenhouse gases that can be emitted by the factories, power plants and other installations in the system. Within this cap, companies receive emission allowances which they can sell to or buy from one another as needed. The limit on the total number of allowances available ensures that they have a value. At the end of each year, each company must surrender enough allowances to cover
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. The UK and EU’s specific proposals for dealing with the enforcement of judgments within the EU will be a key issue for UK practitioners. This Practice Note considers the impact that Brexit will have on enforcing court judgments within the EU when the UK exits the EU. It considers the current position under Regulation (EU) 1215/2012, Brussels I (recast) and summarises the UK’s and EU’s respective positions and considers the likely potential outcomes, based on the information available, for such issues. The Practice Note considers potential issues which may arise when the UK exits the EU and potential regimes which may assist when seeking to enforce a court judgment, being the Hague Convention on Choice of Court Agreements and the Lugano Convention 2007. For guidance of the impact of Brexit on Regulation (EC) 805/2004, the European Enforcement order regulation, see Practice Note: Brexit—European cross border processes [Archived] For an understanding of how a deal or no deal position may be reached, the House of Commons Exiting
PRACTICE NOTES
ARCHIVED: This Practice Note has been archived and is not maintained. As a result of the 23 June 2016 referendum on membership of the EU, which voted with a 52% majority voting in favour of the UK leaving the EU, the UK left the EU on 31 January 2020 (exit day). In accordance with the Withdrawal Agreement, the UK then entered a transition period (implementation period) during which it continued to be subject to EU law. The implementation period ended on 31 December 2020 (IP completion day), at which point key transitional arrangements came to an end and significant changes began to take effect across the UK’s legal regime. During the implementation period, the UK government published practical guidance to help businesses prepare for how specific regimes relevant to environmental law would operate following IP completion day. On and immediately following IP completion day, a number of these guidance documents were reissued to reflect the confirmed legal and practical changes taking effect from 1 January 2021. Some of the guidance contained
PRACTICE NOTES
Status of the UK This document is archived and no longer maintained. From exit day (31 January 2020) the UK was no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK entered an implementation period, during which it continued to be subject to EU law. References to exit day in many Brexit SIs are to be read as reference to IP completion day (Implementation Period completion day, defined in clause 39 as 31 December 2020 at 11.00 pm) (unless that provision is expressly disapplied by the SI in question). For further details, see News Analysis: Brexit—impact of the Withdrawal Agreement and European Union (Withdrawal Agreement) Act 2020 for R&I lawyers and Brexit Bulletin—key updates, research tips and resources. We look at some of the issues for R&I lawyers and professionals relating to the (i) Regulation (EU) 2015/848 (OJ L141/19), Recast Regulation on Insolvency [EU Recast Regulation on Insolvency] and (ii) Retained Regulation (EU) 2015/848, [Retained Recast Regulation on Insolvency]. This Practice Note is part of a suite of