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European Competition Law is now among the most important branches of European law, and is of considerable importance to business people all over the world, and to lawyers practising in competition (antitrust) law. Much of the law is now directly applicable in the courts of the Member States, and displaces the relevant domestic law. This Commentary covers in detail EC Treaty Articles 81 - 86, Council Regulation No 1/2003 on the implementation of the rules on competition, Six Block Exemption Regulations (namely Commission Regulation (EC) No 2659/2000 concerning categories of research and development agreements, Commission Regulation (EC) No 1400/2002 concerning vertical agreements and concerted practices in the motor vehicle sector, Commission Regulation (EC) No 2658/2000 concerning categories of specialisation agreements, Commission Regulation (EC) No 772/2004 concerning categories of technology transfer agreements, Commission Regulation (EC) No 358/2003 concerning certain categories of agreements, decisions and concerted practices in the insurance sector, Commission Regulation (EC) No 2790/1999 concerning categories of vertical agreements and concerted practices) and EC-Merger Regulation No 139/2004.