"Regulation 1/2003 and the Modernisation Package fully applicable since 1 May 2004"*A. Overview of the new rules As from 1st May 2004, the new enforcement system for Articles 81 and 82 of the Treaty is fully applicable. With the entry into application of Regulation 1/2003 , Regulation 17/62 has been repealed. The most central feature of the new Regulation is the direct application of Article 81(3) of the Treaty. Under Regulation 1/2003, agreements that fulfil the conditions of Article 81(3) are legally valid and enforceable without the intervention of an administrative decision. The notification and exemption system of Regulation 17 is no longer in force. Furthermore, the new Regulation represents a great step forward in terms of establishing a level playing field for agreements
The EU Council adopts new rules on the implementation of the rules on competition laid down in Articles 81 and 82 of the Treaty
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