1. This Regulation lays down rules and procedures to ensure an effective and timely exercise of the Community’s rights in implementing the Trade and Cooperation Agreement between the European Union and the European Atomic Energy Community, of the one part, and the United Kingdom of Great Britain and Northern Ireland, of the other part (‘the Trade and Cooperation Agreement’).
2. This Regulation applies to the following measures adopted by the Community in accordance with Articles 718 and 719 of the Trade and Cooperation Agreement:
(a)
the suspension of the application of Protocol I to the Trade and Cooperation Agreement, in relation to one or more Community programmes, activities, or parts thereof;
(b)
the termination of the application of Protocol I to the Trade and Cooperation Agreement, in relation to one or more Community programmes, activities, or parts thereof.