Explanatory note

These Regulations are made in exercise of the powers in section 8(1) of the European Union (Withdrawal) Act 2018 (c. 16) in order to address failures of retained EU law to operate effectively and other deficiencies (in particular under paragraphs (a), (b), (d) and (g) of section 8(2)) arising from the withdrawal of the United Kingdom from the European Union.

These Regulations make amendments to legislation in the field of companies and, in particular, amend legislation relating to the creation and operation of European Economic Interest Groupings. The Regulations provide that, on exit day, European Economic Interest Groupings that are registered in the United Kingdom immediately before that day are to be converted into “UK Economic Interest Groupings” or “UKEIGs”. The Regulations also make provision in respect of “EEIG establishments”: establishments in the United Kingdom of European Economic Interest Groupings that are registered in a Member State.

A full impact assessment has not been prepared for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.