Article 1
1
A European Economic Interest Grouping registered in the United Kingdom immediately before IP completion day—
a
is, on IP completion day, converted into a UK Economic Interest Grouping; and
b
accordingly, on and after IP completion day, is to be known by that name (see Article 5).
2
A UK Economic Interest Grouping—
a
is a body corporate and continues to be registered as such;
b
is, on and after IP completion day, deemed to be formed upon the terms, in the manner and with the effects laid down in this Regulation in relation to such groupings;
c
has the capacity, in its own name, to have rights and obligations of all kinds, to make contracts or accomplish other legal acts, and to sue and be sued.
3
Paragraph 1 does not apply to an outgoing grouping (as to which, see regulation 9 of the EEIG Regulations).
4.
In paragraph 3, an “
outgoing grouping
” means a European Economic Interest Grouping—
a
which, immediately before IP completion day, is registered in a Member State pursuant to a transfer of its official address from the United Kingdom to that Member State in accordance with Article 14; but
b
whose registration in the United Kingdom has not been terminated before IP completion day.
5.
In paragraph 4(a), the reference to Article 14 is a reference to Article 14 of Council Regulation
(EEC) No. 2137/85
of 25 July 1985 on the European Economic Interest Grouping (EEIG) as it applied in the European Union immediately before IP completion day.
Art. 1 substituted (31.12.2020) by The European Economic Interest Grouping (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1299), regs. 1, 33 (as amended by S.I. 2020/523, regs. 1(2), 8(a)); 2020 c. 1, Sch. 5 para. 1(1)