In accordance with the provisions of the withdrawal agreement, the United Kingdom has taken a transitional period called the “transposition period”. During this period, EU legislation continues to apply to the UK in the same way as before the withdrawal date. To do this, the withdrawal agreement contains provisions, so that references made in UK law to the `EU`, `EEA` or `EU Member State` include the UK during the transition period. The transition period is due to end on 31 December 2020. The EU is responsible to the Uk for its share of the EU`s investments in the capital released from the EIF as of 31 December 2020. The EU air transport law, which was not applicable at Gibraltar Airport before the withdrawal agreement came into force, applies to Gibraltar Airport only from the date set by the Joint Committee. The Joint Committee takes the decision on this matter after the United Kingdom and Spain have indicated that they have reached a satisfactory agreement on the use of Gibraltar Airport. 1. For the years 2019 and 2020, the United Kingdom is participating in the implementation of THE EU budgets in accordance with Part 4. 2. For a fine decided by the EU after 31 December 2020 as part of a procedure under Article 92, paragraph 1, the EU refunds the UK`s share of the fine recovered by the EU as soon as the fine becomes final. The amounts resulting from adjustments to the united states` own resources and adjustments related to the surplus or deficit in the financing of EU budgets up to 2020, in accordance with EU law covered by paragraphs 1 and 2, are due by the United Kingdom or the United Kingdom; CONSIDERING that, on the basis of the provisions of this Protocol, EU law will apply to sovereign basic territories in certain EU policies after the UK`s withdrawal from the EU 1. Without prejudice to Article 127, paragraph 2, the United Kingdom is bound, during the transitional period, by the obligations arising from the international agreements concluded by the Union, of the Member States acting on its behalf or of the Union and its Member States acting jointly, covered by Article 2, point a) iv) iv.
The first paragraph does not apply to the commitments to be liquidated by 31 December 2020: CONSIDERING that the provisions in this Protocol provide for the proper implementation and application of the relevant provisions of EU law with regard to the basic sovereign territories after the UK`s withdrawal from the EU, the annual budgets for the years up to 2020 or , if the annual budget has not been adopted, the rules applicable under Article 315 of the Treaty on the Functioning of the European Union.