On joining the Community, now called the European Union, the UK and its citizens became subject to EC law. This subjection to European law remains the case, even where the parties to any transaction are themselves both UK subjects. In other words, in areas where it is applicable, European law supersedes any existing UK law to the contrary.
Community law consists primarily of the EC Treaty and any amending legisla¬tion such as the Single European Act to which the UK acceded in 1986, the Maastricht Treaty 1992 and the Treaty of Nice 2001. However the most recent reform was introduced by the Lisbon Treaty, signed by all the members in 2007 and subsequently ratified by them individually by the autumn of 2009. The necessary altercations to the fundamental treaties governing the EU, brought about by the Lisbon Treaty, was published at the end of March 2010. As a result there are three newly consolidated treaties:
The Treaty or: European Union (TEU)
Article 1 of this treaty makes it clear that 'The Union shall be founded on the present Treaty and on the Treaty on the Functioning of the European Union (hereinafter referred to as 'the Treaties '). Those two Treaties shall have the same legal value. The Union shall replace and succeed the European Community. '
The Treaty on the Functioning of the European Union (TFEU)
Article 2 of this treaty provides that:
'When the Treaties confer on the Union exclusive competence in a specific area, only the Union may legislate and adopt legally binding acts, the Member States being able to do so themselves only if so empowered by the Union or for the implementation of Union acts. '
Article 3 specifies that the Union shall have exclusive competence in the following areas:
(a) customs union;
(b) the establishing of the competition rules necessary for the functioning of the internal market;
(c)