31972R2746

64 Official Journal of the European Communities

No L 291 /148 ^ Official Journal of the European Communities 28.12.72

REGULATION (EEC) No 2746/72 OF THE COUNCIL of 19 December 1972

amending Regulation (EEC) No 974/71 on certain measures of conjunctural policy to be taken in agricultural following the temporary widening of the margins of fluctuation for the currencies of certain Member States

THE COUNCIL OF THE EUROPEAN COMMUNI­ of that Decision; whereas other compensatory TIES, amounts should be taken into account within the system of financing the common agri­ Having regard to the Treaty establishing the cultural policy; European Economic Community, and in partic­ ular Articles 28 , 43 , 103 and 235 thereof; Having regard to the proposal from the Com­ HAS ADOPTED THIS REGULATION : mission ; Having regard to the Opinion of the European Article 1 Parliament; Whereas Council Regulation (EEC) No 974/711 Regulation (EEC) No 974/71 shall be amended as follows : of 12 May 1971 on certain measures of con­ junctural policy to be taken in agriculture 1 . The following shall be substituted for the following the temporary widening of the first citation : margins of fluctuation for the currencies of certain Member States , introduced for the 'Having regard to the Treaty establishing Member States allowing the exchange rate of the European Economic Community, and their currency to fluctuate by a margin wider in particular Articles 28 , 43 and 235 thereof.' than the one permitted by international rules , a system of compensatory amounts based 2 . The following shall be substituted for upon the difference between the parties in Article 1 ( 1 ): force in the Member States concerned and the ' 1 . If in commercial transactions a Mem­ arithmetic mean of the spot market rates of ber State allows the exchange rate of its that currency against the US Dollar; currency to fluctuate by a margin wider Whereas pending the official revaluation of the than the one permitted by the international currencies of certain Member States , compen­ rules in force on 12 May, 1971 , it shall: satory amounts should be brought within the (a) charge on imports from other Member common agricultural policy; States and third countries , Whereas compensatory amounts charged in (b) grant on exports to other Member trade with non-Member States under Regula­ States and third countries tion (EEC) No 974/71 constitute agricultural compensatory amounts for the products levies within the meaning of Article 2 (a) of the referred to below in paragraph 2 under the Decision of 21 April 19702 on the replacement conditions laid down hereinafter.' of financial contributions from Member States by the Communities own resources or, for 3 . The following shall be substituted for the goods subject to special trade arrangements, second subparagraph of Article 1 (2): these compensatory amounts constitute customs ' 1 . Paragraph 1 shall not apply where duties within the meaning of Article 2 (b) application of the monetary measures referred to in that paragraph would lead to 1 OJ No L 106, 12.5.1971 , p . 1 . disturbances in trade in agricultural 2 OJ No L 94, 28.4.1970, p. 19. products .'

Official Journal of the European Communities 65

Article 2 common agricultural policy, the compen­ satory amounts charged or granted in trade with Member States shall be treated The following shall be substituted for Article 7 as part of the expenditure on intervention of Regulation (EEC) No 974/71 : intended to stabilise the agricultural mar­ kets . ' 1 . With effect from 1 July 1972, for 3 . Where necessary, detailed rules for the purposes of the financing of the com­ the application of this Article may be mon agricultural policy, the compensatory adopted according to the procedure laid amounts granted in trade with third coun­ down in Article 13 of Regulation (EEC) tries shall be treated as part of the expen­ No 729/70 . 1 ' diture on refunds granted on exports to third countries . Article 3 2 . With effect from 1 January 1973 , for the purposes of the financing of the This Regulation shall apply from 1 July 1972.

This Regulation shall be binding in its entirety and directly applicable in all Member States . Done at Brussels , 19 December 1972 . For the Council The President

T. WESTERTERP

1 OJ No L 94, 28.4.1970, p. 13 .