Encyclopaedia of Banking Law
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Commentary
Description: Source Currency : Issue 219 September 2026 Impact of the Retained EU Law (Revocation and Reform) Act 2023 This title contains references to retained EU law (REUL) and associated terms introduced by the European Union (Withdrawal) Act 2018 in connection with Brexit. From 1 January 2024, REUL that remains in force is known as ‘assimilated law’, in accordance with section 5 of the Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023) and is generally to be interpreted according to ordinary domestic law and principles. REUL(RR)A 2023 also introduces new tests for courts considering whether to depart from assimilated case law, and procedures for dealing with points of assimilated law. From 1 January 2024, unless otherwise stated (or referencing a point in time at or before the end of 2023), references to REUL and associated terms within domestic legislation are read as references to assimilated law and associated terms. The following areas of the title have been updated: Binder 1 Division C: The Relationship of Bank and Customer Binder 1A Division F2: The Effect of Insolvency on Banking and Finance Transactions

