On February 28, 2018 the European Commission published its initial draft of the withdrawal agreement which is expected to form the basis of a treaty that will govern both the withdrawal of the UK from the European Union and the transition period following that withdrawal (the “Agreement”).
The Agreement provides that a transition period will run from the date that the Agreement enters into force until December 31, 2020. During that transition period, EU law will continue to apply, and the UK will be subject to the jurisdiction of the European Court of Justice (“CJEU”).
The initial draft of the Agreement may be revised by the European Commission and will in any event be subject to detailed scrutiny by the European Parliament and the national governments of the 27 remaining member states. Further amendment and modification is likely to result from negotiations with the United Kingdom government. The UK government has stated that it would not accept certain sections of the Agreement.