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Competition law, at both the EC and UK levels, plays an important and ever increasing role in regulating the conduct of businesses. Competition law can affect business contracts, take-overs and mergers, co-ordinated actions, pricing behaviour and, also, State subsidies. Businesses now require graduates to be aware of the significance and affect of the provisions of EC and UK competition law. The basic tenets of competition law have proved difficult to understand, learn and apply with confidence. This book seeks to remedy this by providing a clear guide and outline of the general policies behind, and the main provisions of, Community and UK competition law. The structured framework in which information is presented makes this book user friendly. Competition law in considered in context, thereby aiding understanding for newcomers to what can be a complex subject, and the incorporation of a glossary of useful terminology and sections on discussion and further reading at the end of each chapter make this book indispensable. The second edition has been substantially revised to incorporate a number of recent important developments in EC and UK competition law.;The most notable inclusions are the White Paper on Modernisation and subsequent Draft Regulation, the Vertical Agreements Regulation and the development of policy and practice in relation to the UK Competition Act 1998. Generally, the book has been updated to consider more recent examples of competition law in practice and the concluding chapter provides readers with an excellent foundation to follow developments in an ever-changing area of commercial law.