imported>Doug Williamson |
imported>Doug Williamson |
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| ''Law - UK - Brexit.''
| | Similar to a scrip issue, a share split also results in the shareholder owning more shares in proportion to the initial holding. |
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| (REUL).
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| Retained EU law in the UK is EU law that applied in the UK at the end of the Brexit transition period on 31 December 2020, and continues to apply.
| | Under a share split each share is subdivided so that the par value is also subdivided; a 5 for 1 split would see an initial par value of 25p reduced to 5p for each new share. |
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| Retained EU law is provided for under the UK's European Union (Withdrawal) Act 2018.
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| It includes:
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| *Domestic UK law which implemented former EU obligations.
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| *EU legislation which was directly applicable in the UK. For example, the General Data Protection Regulation (GDPR), and other Regulations.
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| *Other rights and principles of EU law that had direct effect in the UK. For example the right not to be discriminated against on the grounds of nationality.
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| EU Directives did not have direct effect in the UK.
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| Therefore they are not automatically retained EU law.
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| ''Source: Pinsent Masons - Retained EU law in the UK after Brexit.''
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| :<span style="color:#4B0082">'''''Harmonisation - retained EU law'''''</span>
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| :"Harmonisation means aligning divergent laws, regulations, systems and practices in different places.
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| :Potential benefits of harmonisation include reducing complexity and cost. EU regulations - including GDPR and EMIR - aligned rules for businesses across the EU.
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| :Following Brexit, the UK can make its own rules.
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| :For example, it has been free to enact the UK’s new Financial Services Act 2021, most of which came into effect from June 2021.
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| :Brexit has not exempted UK treasurers and colleagues from complying with the detailed rules introduced by EMIR, GDPR and the like.
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| :Instead the UK now has UK EMIR, UK GDPR and so forth.
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| :Many of the UK versions of EU rules started out as exact copies. But now they have begun to diverge.
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| :And depending on where you do business, you may need to follow both sets of rules. Don’t assume, take advice."
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| :''ACT Learning Academy.''
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| :<span style="color:#4B0082">'''''Retained EU law (REUL) dashboard - UK government'''''</span>
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| :"REUL is a category of domestic law created at the end of the [Brexit] transition period.
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| :It is made up of certain pieces of EU legislation that were ‘cut and pasted’ onto the UK statute book.
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| :REUL is also made up of certain domestic laws that implemented EU law and were preserved as REUL on the UK statute book.
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| :The catalogue of REUL can be accessed through an interactive dashboard...
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| :Creating this catalogue of REUL is the first step in accelerating regulatory reform and reclaiming the UK statute book.
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| :The government will continue developing this comprehensive record of where EU-derived legislation remains and will work to identify more legislation which can be amended, repealed or replaced.
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| :This dashboard will document the government’s progress against that aim."
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| :''UK Government - REUL.''
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| == See also == | | == See also == |
| * [[Benchmarks Regulation]] | | * [[Scrip issue]] |
| * [[Brexit]]
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| * [[Brexit transition period]]
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| * [[Code of practice]]
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| * [[Direct effect]]
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| * [[Directive]]
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| * [[Divergence]]
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| * [[EMIR]]
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| * [[European Convention on Human Rights]]
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| * [[European Court of Justice]]
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| * [[European Union]]
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| * [[European Union (Withdrawal) Act 2018]]
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| * [[Financial Services Act 2021]]
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| * [[General Data Protection Regulation]] (GDPR)
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| * [[Gold-plating]]
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| * [[Harmonisation]]
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| * [[Law]]
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| * [[Onshore]]
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| * [[Parliamentary supremacy]]
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| * [[Red tape]]
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| * [[Regulation]]
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| * [[Statute]]
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| * [[UK]]
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| * [[UK EMIR]]
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| * [[UK GDPR]]
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| * [[UK MAR]]
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| * [[UK MiFIR]]
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| __NOTOC__
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| ==External links==
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| * [https://www.pinsentmasons.com/out-law/guides/retained-eu-law-uk-after-brexit Pinsent Masons - Retained EU law in the UK after Brexit]
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| * [https://www.gov.uk/government/publications/retained-eu-law-dashboard Retained EU law dashboard - UK government]
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| [[Category:Accounting,_tax_and_regulation]]
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| [[Category:The_business_context]]
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