The Luxembourg Parliament implements EC Regulation N° 1/2003 and "modernises" Luxembourg competition law (Law 17.05.04)

Since 17 May 2004 (Loi du 17 mai 2004 relative à la concurrence, published in the Official Journal, Mémorial A - n° 76 du 26 mai 2004, entered into force on 29 May 2004) (hereafter: “Law”), Luxembourg has a new law on competition and two competition authorities have been created by the Law: the Competition council and the Competition inspection. The two authorities are operational since November 2004 and are both member of the European Competition Network. This article presents the two authorities (1), the substantial rules (2), the powers of the two authorities (3) and the procedure applicable to a case (4). 1. The two authorities It is noteworthy to know the legislative background concerning the reform. One of the major difficulties during the legislative procedure consisted in the