A six-week public consultation has been launched on the draft of the European Union (Withdrawal) Bill which is set to move through Tynwald later in the year.

Chief Minister Howard Quayle is asking businesses, organisations and the public to comment on the draft bill before the end of the consultation period on Tuesday, May 29.

He said: ’Our EU bill is intended to make the legislative changes we need to ensure a smooth transition into our new relationship with the EU, including our inclusion within the planned implementation period from March 2019 to December 2020, providing the highest possible level of certainty and stability for island residents and businesses.’

The bill has three key functions, firstly to repeal the European Communities Act 1973 while also allowing for preservation of arrangements which fall within the island’s current relationship with the EU.

It will enable the withdrawal and implementation period to have effect in Manx law and allow current arrangements to continue after ’Brexit’.

These include World Trade Organisation and other free trade agreements.

The consultation can be accessed at consult.gov.im until Tuesday, May 29.