Instant, 1U (2) Counter target activated ability from an artifact, creature, enchantment, or land. That permanent's activated abilities can't be played this turn. (Mana abilities can't be targeted.) Draw a card.1
Illus. Jeff Laubenstein
Cannot be used to counter the ability of something which is not a permanent, which means it cannot be used on abilities which are played while a card is in the graveyard or hand (such as Cycling). [D'Angelo 1998/10/12]
This card targets the ability, and not the permanent itself. [D'Angelo 1999/01/13]
Note - Before errata, this card was of type Interrupt. [Oracle 1999/05/01]
Note - The "can't be played this turn" text was removed from Oracle 1999/05/01 until Oracle 2006/10/01 when it was put back.