UK: The Uncertificated Securities (Amendment and EU Exit) Regulations 2019

The Uncertificated Securities (Amendment and EU Exit) Regulations 2019 were made yesterday: see here or here (pdf). Further information about the purpose of the Regulations and the changes they will introduce is available in the explanatory memorandum: see here (pdf). Regulation 1 provides that Parts 1, 2, 3 and 4 come into force today (and are unconnected with the UK's withdrawal from the EU); Part 5 (connected with the UK's withdrawal from the EU) comes into force on exit day.*

* Exit day

The European Union (Withdrawal) Act 2018 (Exit Day) (Amendment) Regulations 2019 were laid in draft form before Parliament on Monday and will be debated today in the House of Commons and House of Lords under the draft affirmative procedure: see, respectively, here and here. The purpose of these Regulations is to amend section 20 ("Interpretation") of the European Union (Withdrawal) Act 2018 in order to replace the exit day currently specified therein - 29 March 2019 at 11.00 p.m. - with either 22 May 2019, 11.00 p.m., or 12 April 2019, 11.00 p.m. The Government has published a short document explaining this legislative process: see here (pdf).