On 1 May, 2004, Council Regulation 1/2003/European Commission (EC) will enter into force and will introduce a new procedural framework for the enforcement of EC competition rules, replacing the current regime dating back to 1962.
These reforms will abolish the current notification system and will empower national courts and national competition authorities to apply the exemption contained in Article 81(3) EC. By relinquishing its monopoly over this exemption power, the EC hopes to focus its attention more fully on price-fixing cartels and other serious abuses.
