Yes, this is IT. Having now been published in the Official Journal, the Regulation will become law on 8 April 2012 and the Annexes (Part-FCL, conversion of national licences, validation of third country licences and Part-MED) will be adopted in the UK from 1 July 2012. The associated AMCs and Guidance Material have yet to be published and will, presumably, appear on the EASA website in due course. However, since these are not legally binding, they are arguably of less importance. There is also the small matter of Parts-ORA and -ARA, which are due to be published 'early next year', meaning that the picture is not yet quite complete.
Despite the time that this process has taken, there are still a number of errors and inconsistencies in the Annexes that will have to be addressed before implementation. However, this can be done by issuing an exemption under Article 14 of the Basic Regulation, which will not materially affect the Aircrew Regulation as published.
Last edited by BillieBob; 25th Nov 2011 at 12:24.
Reason: Corrected Freudian slip with date of Regulation coming into force