Prime Minister Theresa May has said that she will trigger Article 50 on Wednesday March 29.
UK ambassador to the EU, Tim Barrow, informed the EU President Donald Tusk of May’s plan verbally.
Barrow informed Tusk that Downing Street wants negotiations for Brexit to ‘start promptly’.
Once article 50 is invoked, the ball will be in the court of the EU to produce a response, which is expected to take place within 24 hours.
Announcing the Lisbon Treaty article date, a Number 10 spokesperson said:
Earlier on this morning the UK’s permanent representative in the EU informed the office of Donald Tusk, that it’s the UK’s intention to trigger Article 50 on March 29.
The Prime Minister will deliver her letter triggering Article 50 to President Tusk on Wednesday, and deliver a statement to announce the move. There was no further detail about exactly what the letter would say at this point.7
Once Brexit formally commence with Article 50, two years of negotiations will ensue in which the UK will try and agree the terms of Brexit.
If this period of time needs extending, this can only be done with a unanimous vote of all European Union countries.
If no unanimous decision is reached by the end of the two years, the UK will ‘crash’ out of the EU and will have to revert to World Trade Organisation rules.