31973R2544

No L 263 / 2 Official Journal of the European Communities 19 . 9 . 73

REGULATION ( EEC) No 2544/73 OF THE COUNCIL

of 19 September 1973

on the exchange rate to be applied in agriculture for the Dutch guilder

THE COUNCIL OF THE EUROPEAN Whereas to fix such a representative rate would lead COMMUNITIES , to an adjustment of agricultural prices in the Nether­ lands ; whereas this result is consistent with the basic Having regard to the Treaty establishing the European principle of uniformity of prices in the Community ; Economic Community ; whereas it was on the basis of this principle and its consequences that specific provisions were laid down Having regard to Council Regulation No 1 29 ( x ) on in Council Regulation (EEC) No 1 134/68 (3) of 30 the value of the unit of account and the exchange July 1968 laying down rules for the implementation rates to be applied for the purposes of the common of Regulation (EEC) No 653 / 68 on conditions for alter­ agricultural policy, as last amended by Regulation ations to the value of the unit of account used for the (EEC) No 2543 / 73 (2 ) and in particular Article 3 ( 1 ) common agricultural policy ; whereas these provisions thereof ; only cover the case of a change in the parity of a Having regard to the proposal from the Commission ; currency ; whereas they should also be applied in this

case ; Having regard to the Opinion of the Monetary Committee ;

Whereas the situation referred to in Article 3 ( 1 ) of HAS ADOPTED THIS REGULATION : Regulation No 129 , in which derogations may be made from the principle of using par values for converting one currency into another, now obtains in Article 1 various Member States ;

1 . Where transactions to be carried out in pursu­ Whereas , however, it has generally been possible to ance of instruments relating to the common agricul­ solve the probelems posed by such a situation by tural policy, or specific rules laid down under Article applying monetary compensatory amounts, enabling 235 of the Treaty, require the Dutch guilder to be exchange rates to be maintained which correspond to expressed in another currency or in units of account, the parities of the currencies concerned ; the rate of exchange to be applied for conversion Whereas by reason of the customs union existing shall, in derogation from Article 2 ( 1 ) of Regulation among the Benelux countries, and the fact that these No 129 , be the rate which corresponds to the represen­ Member States had decided to maintain between their tative rate for that currency. currencies the rates prevailing before 9 May 1971 , the 2. The representative rate referred to in paragraph 1 system of monetary compensatory amounts does not shall be : 1 Dutch guilder = 0-2904 units of account. apply in trade between these countries which, for the purposes of that system , are treated as one Member State ; Article 2

Whereas on 15 September 1973 the Netherlands The provisions of Regulation ( EEC) No 1134/68 , in government decided to raise the central rate for the respect of an alteration of the relationship between Dutch guilder by 5 % ; whereas, therefore, the system the parity of the currency of a Member State and the of monetary compensatory amounts should also apply value of the unit of account, shall apply. in trade between the Benelux countries , since for these Member States these amounts are calculated on the basis of the difference between the central rate Article 3 and the parity for each currency, and this difference is no longer the same for these countries ; 1 . This Regulation shall enter into force on the day Whereas , however, this result could be avoided by of its publication in the Official Journal of the Euro­ fixing, pursuant to the said Article 3 , a representative pean Communities. However, at the request of the exchange rate for the Dutch guilder so that the differ­ interested party it shall have effect as from 17 ence between the central rate and the representative September 1 973 . rate corresponds to the difference existing for the 2 . It shall cease to have effect at such time as the Belgian / Luxembourg franc between the central rate Kingdom of the Netherlands shall declare a new and the parity ; parity to the International Monetary Fund .

(') OJ No 106 , 30 . 10 . 1962, p. 2553 / 62 . (-) See p. 1 of this Official Journal . (■') O | No L. 1 SX , I. S. 1 968 , p . 1 .

19 . 9 . 73 No L 263 / 3 Official Journal of the European Communities

This Regulation shall be binding in its entirety and directly applicable in all Member States .

Done at Brussels, 19 September 1973 .

For the Council

The President

I. NØRGAARD