The United Kingdom has voted to leave the European Union. This
does not take effect immediately as Article 50 of the Treaty on
European Union will need to be formally triggered by the UK
Government for withdrawal to commence.
The process is likely to take two years or more but there will
be significant consequences for many businesses and planning should
start immediately to identify the risks and opportunities that the
UK's exit from the EU may bring.
We have established a team of lawyers with specific industry and
EU law and regulation expertise who are available to support you in
assessing the likely impact of the UK's decision on your
business and planning how to address these challenges. For
support, please speak to your usual Norton Rose Fulbright contact
or one of our
If you have not done so already, the first step is to compile a
matrix of risks that the UK's exit may present for your
business. While the risk matrix will be different for every
business, the types of issues that may be relevant are:
trade patterns (internal, supply chain and customers) between
the UK, EU and third countries;
current and prospective barriers to trade including tariffs and
other barriers, e.g., different product standard rules, regulatory
and trading regulations;
rights of key employees to work in the UK and EU and the impact
on recognition of their professional or other qualifications;
data protection and privacy requirements – intra-company
regulatory requirements that will impact your rights to
establish and provide services in the UK and the EU and how far a
common regulatory passport will apply;
whether your business structure in Europe – subsidiaries,
branches, agencies - will continue to be fit for purpose;
impact on your access to capital markets in the EU or the UK
and to other sources of funding including state loans and
consequences of changes to public procurement arrangements;
effectiveness of your company's or industry's think
tanks and representative bodies in London and Brussels
There is information on the likely impacts of Brexit for a wide
range of industries on our dedicated
Brexit site. Please do not hesitate to contact us to discuss
any issues you are facing in relation to Brexit.
Norton Rose Fulbright
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Following the announcement by the International Atomic Energy Association that Iran has met its commitments under the Joint Comprehensive Plan of Action nuclear deal, Australia has suspended all nuclear-related sanctions against Iran.
PNG has domestic arbitration legislation, but does not provide for the enforcement of foreign arbitral awards.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).