By airiamdelivery
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February 28, 2019
“Brexit” is the short-hand term being used to describe the UK’s exit from the European Union (EU). The UK voted to leave the EU following a referendum in June 2016. In March 2017, the UK Government started the process of leaving the EU by triggering Article 50 of the Treaty on European Union. The UK is expected to remain a member of the EU until 29 March 2019. What is Article 50? Article 50 of the Treaty on European Union is a provision in law which sets out how a Member State can leave the EU. What has been announced by the European Council in November 2018? The EU and UK have signed a Withdrawal Deal on the UK’s departure from the EU, including a transition period until 31 December 2020. They have also agreed a top level political agreement on the future UK-EU relationship which is not legally binding at this stage. Following the June 2016 referendum vote to leave the European Union (EU), the UK Government started the exit process by triggering Article 50 of the Treaty on European Union in March 2017. This exit is being referred to as ‘Brexit’. The UK is due to leave the European Union (EU) on 29 March 2019. On 25 November 2018 the European Council announced that the EU and the UK signed a Withdrawal Agreement for the UK’s departure from the EU on 29 March 2019. On 15 January 2019 the UK parliament declined to support the UK Government’s Withdrawal Deal for the UK’s departure from the EU. Our Brexit planning continues unchanged. This is because we have been preparing for a number of scenarios including a ‘no deal’ scenario to ensure we can continue to support our customers. We will continue to monitor the situation regularly to ensure we’re ready for Brexit, our aim is to support customers with the same level of service and range of products as we do today. Key Dates to remember: October 17-18th 2018 The European Council summit. Discussion on Withdrawal Agreement plus frame work for future relation. December 13th 2018 The European Council summit. Last schedule for 2018 summit. The UK Parliament December 2018 - February 2019 Members of parliament expected to vote on the withdrawal Agreement. Also to be approved in the European Parliament in a plenary vote. March 2019 European Council Summit Final Council Summit March 29th 2019 The UK Parliament Pass on Implementation Bill March 29th 2019 The UK Leaves the European Union At 23:00 or 11:00pm UK time. March 29th 2019 If agreed upon a Transitionary Period The UK will be subject to the European Council Rules until the of 2020. May 23 -26th 2019 The European Council Election for the European Parliament. Where a total of 27 European countries will assemble. The UK will not be represented. December 31st 2020 The UK Transitory period Ends if agreed upon by the European Council What happens next? The Withdrawal Deal now needs be approved by member states and the UK & European Parliaments. It is expected that the full future EU-UK deal, including for financial services will be worked through during the transition period. Which countries that are currently in the European Council? The EU currently consists of: Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK. Which countries are included in the European Economic Area (EEA)? The EEA includes EU countries and also Iceland, Liechtenstein and Norway. It allows them to be part of the EU’s single market. Switzerland is neither an EU nor EEA member but is part of the single market - this means Swiss nationals have the same rights to live and work in the UK as other EEA nationals. Further Information For more information on Brexit: FCA Brexit site - https://www.fca.org.uk/eu-withdrawal UK Government Brexit site - https://www.gov.uk/government/organisations/department-for-exiting-the-european-union Confederation of British Industry (CBI) Brexit site - http://www.cbi.org.uk/business-issues/brexit-and-eu-negotiations/ https://personal.natwest.com/personal/support-centre/brexit-hub.html?M=Y&A=3&PS=P1&AT=ZJ&ES=01&CIN=E32AF478380BC2929128AB7FE1426AB36719B899&BIN=EFE43DEF97EB295FE99C3753F2D740D7B36DF689&CS=C3&CDE1=Y&CDE2=&CDE3=N&CDE4=N&CDE5=N&CDE6=Y&CDE7=NR&CDE8=N&CDE11=N&CDE12=N&CDE13=N&CDE14=N&CDE15=N&CDE16=Y&CDE17=N&CDE18=N&CDE19=N&CDE20=N&CDE21=N&CDE22=N&CDE23=N&CDE24=N&CDE25=NE&CDE30=N&CDE31=N&CDE32=N&CDE33=0&CDE35=N&CDE36=N&CDE37=N&CDE38=N&CDE40=N&CDE41=N&CDE42=N&CDE43=N&CDE45=N&CDE46=N&CDE47=N