103.In footnote106 confirms that the EU will `notify` all other parties to these agreements (i.e. third countries) `that [the UK] must be treated as a Member State for the purposes of these agreements during the transition period`.107 110.The main advantage of extending the transition period if negotiations on the future relationship are incomplete at the end of 2020 — If this is to maintain continuity and stability: The UK could remain a member of the EU`s single market until the new relationship is ready to be implemented, subject to the continued application of EU rules. The downside is that the UK would continue to be subject to all the obligations described above (including those under new regulations and directives) and the jurisdiction of the CJEU beyond 2020. That EU law must be `interpreted and applied in accordance with the same methods and general principles as those applicable in the European Union` (Article 127(1) and (3)). This also includes the possibility of referring to the CJEU during the transitional period (Art. 86). Similarly, during the transitional period, the EU`s „bodies and agencies” retain their supervisory and enforcement powers, and the CJEU retains its competences (Art. 131). The „transition period” or „transposition period” agreed in Part 4 of the Withdrawal Agreement currently ends on 31 December 2020.  The basic principles that apply during this period are (i) that the UK is now a „third country” and therefore cannot participate in the EU decision-making process, but (ii) the vast majority of „EU law” continues to apply to the UK.  The most important elements of the draft agreement are as follows: The transformation of various sources of EU law into retained EU law (under the 2018 Act) will also be postponed until the end of the transition.
Any amendment to Union law that enters into force during the transition period will therefore also be part of retained Union law. This is covered by Articles 25 and 26. Under the terms of the Withdrawal Agreement, the UK has entered a transition period, also known as the `transposition period`. During this period, EU law in the UK will continue to apply in the same way as before the withdrawal date. To do this, the Withdrawal Agreement contains provisions so that references in UK law to „EU”, „EEA” or „EU Member State” include the UK during the transition period. The transition period ends on December 31, 2020. 116.An extension of the transition period would also mean that the UK would be subject to EU law (including new regulations and directives and the competence of the CJEU) for a longer period, without representation in the European Parliament, the Council or the CJEU. The risk of the UK becoming a „standard adopter” (subject to new EU laws, without having had a say in their preparation or adoption) would be exacerbated the longer the transition period lasts.
The Declaration on the Future Relationship between the European Union and the United Kingdom, also known as the Political Declaration, is a non-binding declaration negotiated and signed at the same time as the binding and broader Withdrawal Agreement in the context of the Withdrawal of the United Kingdom from the European Union (EU), colloquially known as Brexit, and the expected end of the transition period. On 23 January 2020, the UK Parliament approved the draft agreement by passing the European Union (Withdrawal Agreement) Act 2020. Following the signing of the Agreement, the Government of the United Kingdom issued and deposited the instrument of ratification of Great Britain on 29 January 2020.   The agreement was ratified by the Council of the European Union on 30 January 2020 after obtaining the consent of the European Parliament on 29 January 2020. . . .