Status of the UK ARCHIVED: This Practice Note has been archived and no longer maintained. As of exit day (31 January 2020) the UK is 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 Analyses: 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. This Practice Note is part of a suite of documents considering the impact of Brexit including: • Brexit—impact on Recast Regulation on Insolvency: this Practice Note also considers saving provisions for insolvency proceedings opened prior to IP completion day • Brexit—impact on winding up • Brexit—impact on company

Status of the UK This document is archived and no longer maintained. From exit day (31 January 2020) the UK is 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. This Practice Note considers the impact of Brexit on bankruptcy under the Insolvency Act 1986 (IA 1986). This Practice Note is part of a suite of documents considering the impact of Brexit, including: • Brexit—impact on Recast Regulation on Insolvency • Brexit—impact on winding up • Brexit—impact on company voluntary arrangements • Brexit—impact

ARCHIVED: This archived Practice Note looked at the potential effect of Brexit in the period prior to 11pm (GMT) on 31 December 2020 (IP completion day) on corporate joint venture transactions, ie on joint ventures that had been set-up prior to IP completion day and the drafting implications for joint venture shareholders’ agreements that had been entered into prior to IP completion day. For information on the effect of Brexit on corporate joint venture agreements following IP completion day, see Practice Note: Brexit—IP completion day impact on joint venture agreements [Archived]. At 11pm UK time on 31 January 2020 (exit day), the United Kingdom left the European Union in accordance with a ratified Withdrawal Agreement between the UK and the EU. The UK is now regarded by the EU as a ‘third country’, ie it is a country that is not an EU Member State or a member of the European Free Trade Association (EFTA). Nevertheless, in accordance with the Withdrawal Agreement, the UK’s relationship with the EU is currently in a transition period

As a result of the 23 June 2016 UK referendum on membership of the EU, which voted with a 52% majority voting in favour of the UK leaving the EU, government published the European Union (Withdrawal) Act 2018 (EU(W)A 2018). EU(W)A 2018 provided a range of legislative provisions in connection with the UK’s withdrawal from the EU, to ensure a functioning statute book post-Brexit. As a general rule—the same rules and laws applied after exit day (11 pm on 31 January 2020), as before exit day, until the implementation period completion date of 11 pm (GMT) on 31 December 2020 (IP completion day). From the point of its exit from the EU, the UK's relationship with the EU was governed by the Withdrawal Agreement, an international treaty negotiated by the UK and the EU during the withdrawal period, which intended to: • tie up the administrative and financial loose ends associated with the UK's membership of the EU • protect the rights of UK and EU citizens living in each other's territory, and • provide a stand-still

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note: • explains where to find information on the latest Brexit developments, in particular, those that impact financial institutions • explains how UK legislation will be impacted by the end of the transition period and the approach taken to ‘on-shoring’ financial services legislation • explains Brexit related issues of general applicability to finance transactions, including passporting, security and data transfer • sets out key issues for various specific types of financing (including project finance, real estate, aviation, debt capital markets (DCM), securitisation, derivatives and transactions involving individuals), and • explains the impact of certain key statutory instruments Information on the impact of Brexit on documentary terms in facilities agreements can be found in the Brexit checklist—finance documents [Archived] and in Practice Note: Brexit—documentary implications for facility agreements [Archived]. Where can I find information on the most recent Brexit developments? The Financial Services Brexit timeline sets out the key events, publications, and next steps on Brexit of most relevance to financial services

This Practice Note provides information relating to the impact of Brexit on financial services, including the loss of passporting rights, and how UK and EU firms should proceed following the UK becoming a third country for the purposes of EU financial services law after the end of the implementation period. This Practice Note provides information relating to the impact of Brexit on financial services, including the loss of passporting rights and the UK becoming a third country for the purposes of EU financial services law following the end of the implementation period. Further financial services materials regarding Brexit can be found in Practice Note: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime [Archived] and the Brexit collection. The end of the implementation period The UK left the EU on 31 January 2020 (exit day) and entered into an implementation period (referred to as a ‘transition period’ in the Withdrawal Agreement), during which the UK sought to negotiate its future relationship with the EU. Pursuant to section 1 of the European Union (Withdrawal)

Status of the UK This document is archived and no longer maintained. From exit day (31 January 2020) the UK is 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 Analyses: 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. This Practice Note is part of a suite of documents considering the impact of Brexit including: • Brexit—impact on Recast Regulation on Insolvency: this Practice Note also considers saving provisions for insolvency proceedings opened prior to IP completion day • Brexit—impact on administration • Brexit—impact on winding up • Brexit—impact on company

ARCHIVED: This archived Practice Note looked at the potential effect of Brexit in the period prior to 11pm (GMT) on 31 December 2020 (IP completion day) on private M&A transactions, ie transactions involving the sale and purchase of shares or the business/assets of a private limited company or unlisted public limited company pursuant to either a share purchase agreement (SPA) or an asset purchase agreement (APA). For information on the effect of Brexit on private M&A sale and purchase agreements following IP completion day, see Practice Note: Brexit—IP completion day impact on private M&A sale and purchase agreements [Archived]. At 11pm UK time on 31 January 2020 (exit day), the United Kingdom left the European Union in accordance with a ratified Withdrawal Agreement between the UK and the EU. The UK is now regarded by the EU as a ‘third country’, ie it is a country that is not an EU Member State or a member of the European Free Trade Association (EFTA). Nevertheless, in accordance with the Withdrawal Agreement, the UK’s relationship

Status of the UK This document is archived and no longer maintained. From exit day (31 January 2020) the UK is 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 likely issues for R&I lawyers and professionals relating to the winding-up process under the Insolvency Act 1986 (IA 1986) and Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024. This Practice Note is part of a suite of documents considering the impact of Brexit including:

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note discusses the legal implications for Scotland of the UK exiting the EU. Specific implications arise, in particular, from the UK’s arrangements for the devolution of legislative and executive powers to the Scottish Parliament and the Scottish Government under the Scotland Act 1998 (SA 1998), as amended progressively (primarily to increase legislative and taxation powers) by the Scotland Act 2012 (SA 2012) and the Scotland Act 2016 (SA 2016) (together, the Scotland Acts). For further guidance on Brexit, see: Scotland collection. Scotland's constitutional arrangements The starting point is that the position of Scotland in what is now the United Kingdom of Great Britain and Northern Ireland has its constitutional foundation in the Act of Union between Scotland and England. Although devolution has re-ordered its internal governance, the position of the UK as a single and continuing sovereign State has not been affected by the enactment of the Scotland Acts. The Scotland Acts confer an extensive

ARCHIVED: This archived Practice Note provides information on the Data Protection, Privacy and Electronic Communications (Amendments etc) (EU Exit) Regulations 2019, SI 2019/419, the Data Protection, Privacy and Electronic Communications (Amendments etc) (EU Exit) Regulations 2020, SI 2020/1586, and key aspects of the EU-UK Withdrawal Agreement and EU-UK Trade and Cooperation Agreement as relevant to data protection. It is not maintained and is for background information only. For more information about ongoing divergence between the data protection rules under the GDPR regimes, see Practice Note: Introduction to the EU GDPR and UK GDPR. This Practice Note discusses the impact of Brexit on the general processing of personal data under the General Data Protection Regulation, Regulation (EU) 2016/679 (EU GDPR), which became directly applicable in the UK and all other EU Member States on 25 May 2018 and which has governed the processing of personal data across the EEA (the EU plus Iceland, Norway, and Liechtenstein), since its incorporation into the EEA Agreement. In the UK, the adoption of the EU GDPR into UK law was assisted

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note considers the relevance of the Withdrawal Agreement to the life sciences sector and the respective roles of the EU and UK regulators. It briefly outlines the relevance of the EU law to the sector and considers the impact of the Withdrawal Agreement on marketing authorisations (MAs) and medicinal products regulatory framework, medical devices, clinical trials, research and development, data protection, and import-export. Relationship with EU law—the Withdrawal Agreement The life sciences sector is one of the most highly regulated and globally harmonised industry sectors. A large amount of the regulation originates from the EU in the form of directives or regulations and is supplemented by guidance issued by the European Commission and the European Medicines Agency (EMA), the decentralised agency of the EU responsible for the scientific evaluation, supervision and safety monitoring of medicines in the EU. The Withdrawal Agreement, which was approved by the UK Parliament by way of the European Union (Withdrawal Agreement)