REFORM OF EU COMPETITION LAW: REGULATION (EC) NO 1/2003

Abstract

The most important element of the reform of EU Competition law is the adoption of Council Regulation (EC) No 1/2003 on the implementation of the rules on competition laid down in Articles 81 and 82 of the Treaty. This Regulation creates a system of parallel competencies in which the Commission and the Member States' competition authorities (NCAs) and national courts can apply Article 81 and Article 82 of the Treaty. The authors first explain the rules governing jurisdiction of these institutions, before analyzing some new acts under the Regulation (EC) No 1/2003. In final remarks, powers of the European Commission have been assessed.