These Regulations revoke and replace the EU Export Credits Legislation (Revocation) (EU Exit) Regulations 2019 (S.I.2019/102) which contained an error in the scope of EU direct legislation which that instrument purportedly revoked. This instrument incorrectly revoked Directive 98/29/EC which harmonises provisions concerning export credit insurance across the European Union. This Directive did not need to be in scope of the Statutory Instrument on the basis that it does not fall within the definition of direct EU legislation for the purposes of section 3(1) of the European Union (Withdrawal) Act 2018. Accordingly, EU Export Credits Legislation (Revocation) (EU Exit) (No.2) Regulations 2019 replace EU Export Credits Legislation (Revocation) (EU Exit) Regulations 2019. With the exception of the removal of references to Directive 98/29/EC, other provisions remain the same.
The comment section for this negative proposed SI will be open until 12 noon on 21 May 2019.