On 23 June 2016, the United Kingdom voted to leave the European
Union by 51.9% to 48.1%. In
our post-referendum Brexit briefing, we summarised the required
next steps, the five possible models that had been the subject of
discussion leading up to the referendum and the legal implications
of Brexit.
Following Theresa May's speech to the Conservative Party
Conference in early October 2016, the timing and shape of Brexit
has now become clearer.
The Central Bank of Ireland has also provided some clarity on
its approach to institutions considering relocating their
operations from the UK to Ireland.
TRIGGERING ARTICLE 50
As discussed in
our post-referendum Brexit briefing, the UK Government must
serve notice on the European Council under Article 50 of the Treaty
on European Union before Brexit negotiations can start. Theresa May
confirmed that this will take place before the end of March 2017.
Unless the two year negotiation period is extended by
