Regulation 2021/1755 - Brexit Adjustment Reserve - Main contents
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official title
Regulation (EU) 2021/1755 of the European Parliament and of the Council of 6 October 2021 establishing the Brexit Adjustment Reserve| Legal instrument | Regulation |
|---|---|
| Number legal act | Regulation 2021/1755 |
| Original proposal | COM(2020)854  |
| CELEX number i | 32021R1755 |
| Document | 06-10-2021; Date of signature |
|---|---|
| Publication in Official Journal | 08-10-2021; OJ L 357 p. 1-26 |
| Signature | 06-10-2021 |
| Effect | 09-10-2021; Entry into force Date pub. +1 See Art 18 |
| Deadline | 10-12-2021; See Art 14.1 Pt (d) 30-04-2022; See Art 9.3 01-03-2023; See Art 4a.1 30-04-2023; See Art 9.3 31-12-2023; See Art 3.1 And 9.2 30-09-2024; See Art 10.1 And 10.2 31-12-2026; See Art 8.5 30-06-2027; See Art 17.2 30-06-2028; See Art 17.3 |
| End of validity | 31-12-9999 |
8.10.2021 |
EN |
Official Journal of the European Union |
L 357/1 |
REGULATION (EU) 2021/1755 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
of 6 October 2021
establishing the Brexit Adjustment Reserve
THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular the third paragraph of Article 175 and Article 322(1), point (a), thereof,
Having regard to the proposal from the European Commission,
After transmission of the draft legislative act to the national parliaments,
Having regard to the opinion of the European Economic and Social Committee (1),
Having regard to the opinion of the Committee of the Regions (2),
Having regard to the opinion of the Court of Auditors (3),
Acting in accordance with the ordinary legislative procedure (4),
Whereas:
(1) |
The Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community (5) (the ‘Withdrawal Agreement’) entered into force on 1 February 2020. The transition period referred to in Article 126 of the Withdrawal Agreement ended on 31 December 2020. During the transition period, the Union and the United Kingdom of Great Britain and Northern Ireland (the ‘United Kingdom’) started formal negotiations on a future relationship. |
(2) |
Following the end of the transition period, barriers to trade, to cross-border exchanges and to the free movement of persons, services and capital between the Union and the United Kingdom have become a reality with broad and far-reaching consequences for businesses, particularly for small and medium-sized enterprises (SMEs) and their workers, as well as for local communities, public administrations and citizens. Since those consequences are unavoidable, they need to be mitigated as much as possible and stakeholders need to make sure that they are ready for them. |
(3) |
The Union is committed to mitigating the adverse economic, social, territorial and, where relevant, environmental consequences of the withdrawal of the United Kingdom from the Union and to show solidarity with all Member States, including their regions and local communities, as well as economic sectors, especially the most adversely affected ones in such exceptional circumstances. |
(4) |
The Union is also committed to sustainable fisheries management in line with the objectives of the Common Fisheries Policy established by Regulation (EU) No 1380/2013 of the European Parliament and of the Council (6), including the principle of achieving maximum sustainable yield for all stocks according to the best available scientific advice, as well as ending overfishing, restoring populations of harvested species and protecting the marine environment, as also provided for by international commitments. |
(5) |
A Brexit Adjustment Reserve (the ‘Reserve’) should be established to provide support to counter the adverse consequences of the withdrawal of the United Kingdom from the Union in Member States, regions and sectors, in particular in those that are worst affected by the withdrawal, and thus to mitigate the related negative impact on economic, social and territorial cohesion. It should cover in whole or in part the additional expenditure incurred and paid by public authorities in Member States for measures specifically taken to mitigate those consequences. The reference period, as defined in this Regulation, determining the eligibility of expenditure should apply to payments made by public authorities in Member States at national, regional or local levels, including payments to public or private entities, for measures carried out. Taking into account the importance of the fisheries sector in certain Member States, it is appropriate to earmark a part of the resources of the Reserve for the... |
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