The European Union (Withdrawal Agreement) Act 2020 is a piece of legislation passed by the United Kingdom Parliament that officially approves the Withdrawal Agreement negotiated between the UK and the EU. The agreement sets out the terms of the UK`s departure from the EU and the framework for future relations between the two.

The Act received royal assent on January 23, 2020, and became law on January 31, when the UK officially left the EU. It includes measures such as incorporating EU law into UK law, creating regulatory alignment for Northern Ireland with EU rules, and providing for a transition period until the end of 2020. During the transition period, the UK remains in the single market and customs union, but is no longer a member of the EU.

One of the key points of the Withdrawal Agreement is the protection of citizens` rights. This includes the rights of UK nationals living in the EU and EU citizens living in the UK, who will continue to have the same rights to live and work in their respective locations. Additionally, provisions have been made for the settlement of financial obligations between the UK and the EU, which were incurred during the UK`s membership.

The Act also establishes the Independent Monitoring Authority, which will oversee the implementation of citizens` rights under the agreement. It will have the power to take legal action against public authorities that fail to comply with its decisions.

The Northern Ireland Protocol, which is part of the Withdrawal Agreement, aims to prevent a hard border between Northern Ireland and the Republic of Ireland. It does this by creating a unique status for Northern Ireland, which will remain aligned with certain EU rules. This will necessitate customs checks on goods moving between Northern Ireland and Great Britain, although these will be minimal.

Overall, the European Union (Withdrawal Agreement) Act 2020 provides the framework for the UK`s departure from the EU and sets out the terms of the relationship between the two parties going forward. While it is not without its controversies and criticisms, it is seen by many as a necessary step to provide certainty and stability during a period of significant change.