By King & Wood Mallesons

On Thursday June 23rd, a majority of the British electorate voted in favour of leaving the European Union, setting the country on an entirely new course for the next generation.

It is important to remember, of course, that overnight, nothing has changed: EU law continues to apply, as do UK laws derived from the EU.

Only in the coming weeks and months will we begin to see the real ramifications of the vote.  Indeed, the government is not legally obliged to trigger Article 50 TFEU, beginning the exit proceedings, though it will be under intense political pressure to do so.  Much will depend on how quickly it attempts to repeal EU laws.

While a great deal remains unknown at this stage, companies should begin considering which pieces of legislation and regulation are valuable – or unhelpful – in the context of your business, and ensure you have adequate provisions in place to cope with any such measures falling away.  There will also be a role for the business community to play in helping to shape Britain’s future relationship with Europe.

King & Wood Mallesons has been studying the implications of Brexit over an extended period, working with clients, industry leaders, academics, heads of both the ‘in’ and ‘out’ campaigns, media influencers and others to offer a 360° view of the implications of Brexit for clients.  We have outlined below some of the key initial considerations in different areas.

We would be happy to discuss in more detail the implications of today’s vote for your business.

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