delete The Taxes (Amendments) (EU Exit) (No. 2) Regulations 2019
EU Exit statutory instrument amending multiple UK tax acts to: (1) substitute Gibraltar multilateral trading facilities and regulated markets for EU equivalents in various definitions; (2) create new section 357BBA preserving EU supplementary protection certificate (SPC) regime references alongside existing UK SPC provisions; (3) update international accounting standard adoption references to distinguish UK vs EU adoption post-Brexit; (4) make consequential amendments across numerous tax regulations.
This regulation epitomises the problem with retained EU law: it was created without democratic scrutiny to simply preserve EU frameworks rather than establish UK-independent alternatives. The new section 357BBA freezes entire blocks of EU pharmaceutical IP law (including data exclusivity periods under Directive 2001/83/EC and SPC protections under Regulation 469/2009) directly into UK statute, referencing 'EU legislation as it has effect in EU law' — precisely the unaccountable inheritance this agency's mandate seeks to address. The Gibraltar market substitutions perpetuate EU-equivalent recognition without establishing UK criteria. While some provisions were technically necessary to prevent legal gaps at Brexit, the philosophical approach of mirroring EU law rather than replacing it with UK-optimal policy makes this regulation a candidate for wholesale review and replacement with genuinely independent UK provisions.