Is your business ready for Brexit?
The transitional arrangements under the UK-EU Withdrawal Agreement deferred many of Brexit’s legal effects on UK law by requiring the UK to continue adhering to EU law from exit day until 11pm on 31 December 2020 (known as IP completion day).
With the prospects of a no-deal Brexit looking increasingly likely and the Government telling us to prepare for the same, every business should be considering how the market will look for them on 1 January 2021.
One example of the impending changes, is highlighted by the new designated standards issued by the Office for Product Safety and Standards (OPSS). The new standards are intended to help stakeholders prepare for the IP completion day and beyond and covers a range of related matters, including:
- harmonised standards with a presumption on conformity to EU law will become designated standards by references published on gov.uk;
- harmonised standards will remain the relevant standard for placing goods on the market in Northern Ireland;
- the content of the standard;
- deciding whether a standard is appropriate for designation; and
- referencing designated standards.
It is likely that new and updated guidance will be issued as the transition period progresses, so businesses are advised to monitor the Government’s designated transition website: www.gov.uk/transition
If you would like to discuss how Brexit will affect your commercial contracts after IP completion day, call us on 01782 262031 to speak to one of our specialist corporate and commercial solicitors.