After talking with the CAA...
Our ops manager had a very informative conversation with the CAA.
Apparently they are confused as we are from whatever Brussels is doing...
In the next few days they are expected to publish a two month extension to the derogation after which they expect to have the information from Brussels and extend the derogation officially to April 2017.
However, as it was pointed out, the problem is not the new EASA FCL requirements but the part NCC new regulation that will prevent third party pilots to use their licenses in Europe.. (and that's kicking in August if I recall correctly)
Watch this space.