In this week's summary of European Documents, the European Scrutiny has highlighted a number of Brexit-related issues.
- The European Citizen's Initiative. The Government says that the ECI legislation will apply in the UK during a transition/implementation period but that UK nationals will not be able tot take part as they will no longer be EU citizens from 30 March 2019. This is at odds with the Committee's understanding of the draft Withdrawal Agreement which provides that the ECI legislation will not apply during the transition/implementation but makes clear that certain rights associated with EU citizenship will continue to apply until the end of 2020.
- Supervision of UK central counterparties after Brexit. This is the Government's efforts to block EU proposals that would allow it to force relocation of UK-based central counterparties - a crucial part of the market infrastructure for trade in derivatives - to the EU after Brexit.
- European Defence Industrial Development Programme. The Government is keen to ensure the UK defence industry has the option of participating in projects financed by the Fund after Brexit, but it appears unlikely UK companies could receive any EU funding directly and the MPD would have no input into the governance of the Fund (i.e. its priorities and funding decisions).
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