The UK vote to Brexit has material economic, financial, commercial, political, legal and social implications. Once the UK government has formally notified the European Council of its citizens’ decision to leave the EU, the UK has a so-called two-year “divorce” period in which to negotiate a withdrawal agreement pursuant to Article 50 of the Treaty on European Union (TEU). Outgoing Prime Minister Cameron has said that he does not expect his successor to be elected for several months and that he currently does not expect the two-year withdrawal period to start before October. On this basis, EU law would cease to apply to UK citizens from October 2018. However, senior EU leadership has told Cameron that notice needs to be given earlier, because, otherwise, the UK would be involved for a longer period of time in EU lawmaking that would never apply to the country.
24 Jun '16