EC Council Regulation n. 1/2003 and measures for its implementation: the international business community's view point

Council Regulation n.1/2003 represents the European Commission 's most ambitious reform within the modernization program of Community policy on competition, which started back at the end of the nineties.

Its main purpose was to make the Commission's action more effective through greater transparency and simplification of procedures, the decentralisation of the decision-making process in favour of national authorities and the concentration of available resources on the most important cases.

Within the consultation process of the Commission with interested parties, ICC (the International Chamber of Commerce) has highlighted the risks and benefits of this initiative and submitted comments and suggestions intended to assist in making the reform effective for both the institutions responsible for its application as well as for the business community.

Now that the Regulation has become final and binding, it has given rise to diverse assessments and reactions within the business community, which is rooted in different legal, economic and cultural contexts. ICC believes that the balance between opportunities and risks offered by the Regulation could be substantially improved in favour of the benefits if a strong effort is made in the decision-making process regarding the implementation instruments provided for by Article 33. This is an opportunity not to be missed.