Brexit: State Of Play

On 29 March 2017, the United Kingdom ("UK") formally notified the European Council of its intention to leave the European Union ("EU") in accordance with Article 50 of the Treaty on European Union ("TEU") following the results of the UK referendum held on 23 June 2016.

This notification is a necessary first step triggering the negotiation procedure described in Article 50 TEU. It follows from Article 50 TEU that the UK withdrawal will take effect, and EU Treaties will cease to apply to the UK, at the latest two years after this notification, unless this period is extended by unanimous decision of the 27 remaining Member States and the UK.

At a European Council summit on 29 April, the 27 remaining Member States adopted Guidelines, which define a two-phased approach for the Brexit negotiations and set out the overall EU positions and principles. During a first negotiation phase, arrangements for an orderly withdrawal will be agreed on.

They cover technical issues, such as post-withdrawal rights of EU and UK citizens living in the UK and the EU respectively, a financial settlement, the future situation in Ireland, the status of the EU and the UK's joint international commitments in international organisations and conventions, the location of the seats of EU agencies and facilities currently located in the UK, and the sort of pending administrative and judicial procedures before EU bodies upon the date of withdrawal. According to the Guidelines, an overall understanding on the framework for the future relationship between the EU and the UK should be identified during a...