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ARCHIVED: This Practice Note has been archived and is not maintained.

During the Brexit Implementation period which ran until 11pm UK time on 31 December 2020 (IP completion day), the key EU regulations effectively remained in place for Corporate lawyers (see Practice Note: The effect of Brexit on UK company law [Archived]), but as of IP completion day, certain changes were made to this picture.

A number of the potential changes to UK corporate law outlined prior to IP completion day were due to take place if the UK and the EU failed prior to IP completion day to enter into a ratified agreement that would govern their ongoing relationship. The EU–UK Trade and Cooperation Agreement (TCA), ie the post-Brexit trade deal between the UK and the EU, was finally agreed just days before IP completion day. Further to the agreement of the TCA, the European Union (Future Relationship) Bill was introduced to Parliament on 30 December 2020, and having completed all its Parliamentary stages in a single day, the Bill received