UK: The Companies, Limited Liability Partnerships and Partnerships (Amendment etc.) (EU Exit) Regulations 2019

The Companies, Limited Liability Partnerships and Partnerships (Amendment etc.) (EU Exit) Regulations 2019 were made on February 19 (and published today on the UK legislation website): see here or here (pdf). Regulation 2 provides that the Regulations come into force on exit day but it is important to note the transitional provisions contained in schedule 4. The explanatory memorandum accompanying the Regulations is available here (pdf) and explains their purpose as follows (paras. 2.1 and 2.2):

This instrument is being made in order to address deficiencies in retained EU law in relation to the Companies Act 2006 and supporting secondary legislation that arise from the withdrawal of the United Kingdom from the European Union (this instrument does not directly address deficiencies in the area of accounting and audit which are being amended in separate instruments).  ..... It will ensure that the UK’s company law framework will be able to function effectively, providing clarity and a smooth transition for business on and after exit day."