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Article 50 Notice
Article 50 of the Treaty on European Union ( http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A12012M%2FTXT ):
"1. Any Member State may decide to withdraw from the Union in accordance with its own constitutional requirements.
2. A Member State which decides to withdraw shall notify the European Council of its intention. In the light of the guidelines provided by the European Council, the Union shall negotiate and conclude an agreement with that State, setting out the arrangements for its withdrawal, taking account of the framework for its future relationship with the Union….
3. The Treaties shall cease to apply to the State in question from the date of entry into force of the withdrawal agreement or, failing that, two years after the notification referred to in paragraph 2, unless the European Council, in agreement with the Member State concerned, unanimously decides to extend this period.
4. For the purposes of paragraphs 2 and 3, the member of the European Council or of the Council representing the withdrawing Member State shall not participate in the discussions of the European Council or Council or in decisions concerning it….
5. If a State which has withdrawn from the Union asks to rejoin, its request shall be subject to the procedure referred to in Article 49.”
The Treaty on European Union is one of the primary Treaties of the European Union. It is the basis of EU Law and sets out general principles of the EU’s purpose, the governance of its institutions and the rules on external, security and foreign policy.
The United Kingdom electorate by a majority has voted to leave the European Union. The 2-year period for negotiating the terms of the withdrawal from the EU, under Article 50 of the Treaty on European Union, will only start once the UK government notifies the European Council that the UK has decided to leave under Article 50.
Until that time, EU law will still apply in the UK but the range of legal implications for UK individuals and businesses will be unclear. Much will depend on which cross-border trading model is negotiated and agreed with the EU.
This post is for information purposes only and does not constitute legal advice.
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