Revised EU Vertical Agreements Block Exemption Moves Closer To Approval

Competition Commissioner designate Joaquín Almunia has advised that he anticipates the long awaited revised Vertical Agreements Block Exemption Regulations ("VABE") will be formally adopted in May, to come into force on 1 June 2010.

Given that businesses are likely to be given very little notice of the final text, there have been calls for a generous transition period to be included to allow parties to assess and bring their arrangements into line with the new framework.

According to reports, the member states and representatives of national competition authorities have this week broadly approved the revised draft and it is understood that the text presented to Mr Almunia for clearance is likely to be broadly similar to the version consulted upon in July 2009 (albeit it subject to some updating following the consultation process). The text has however still to be discussed with the other interested directorates within the Commission.