31974R0197

No L 22/ 2 Official Journal of the European Communities 26 . 1 . 74

REGULATION ( EEC) No 197 / 74 OF THE COUNCIL

of 25 January 1974

amending in particular Regulation ( EEC) No 2958 /73 on the exchange rate applied in agriculture for the Italian lira

THE COUNCIL OF THE EUROPEAN Whereas Article 4b of Council Regulation (EEC) No COMMUNITIES , 974/ 71 (6) of 12 May 1971 on certain measures of conjunctural policy to be taken in agriculture Having regard to the Treaty establishing the European following the temporary widening of the margins of Economic Community, and in particular Article 103 fluctuation for the currencies of certain Member thereof ; States, as last amended by Regulation (EEC) No 3450/73 (7), provided that in principle the intervention Having regard to Council Regulation No 129 (') on the value of the unit of account and the exchange and purchase prices applicable in Italy shall be fixed, rates to be applied for the purposes of the common until the end of the 1973/74 marketing year, at the agricultural policy, as last amended by Regulation level resulting from the application of the provisions (EEC) No 2543/73 (2), and in particular Article 3 in force on 31 December 1973 , expressed in Italian thereof ; lira ;

Having regard to the proposal from the Commission ; Whereas in view of the repercussions which the situa­ tion on the beef and veal market in Italy is already Whereas Article 1 of Council Regulation ( EEC) No having on the level of production and which it may 2958 /73 (3) of 31 October 1973 on the exchange rates therefore have on the general balance of the economy applied in agriculture for the Italian lira, as amended it is necessary that this new representative rate be by Regulation (EEC) No 2996/73 (4), provided for the applied immediately in the beef and veal sector ; application of representative rates for the Italian lira whereas the basis for determining the incidence of the with effect from 1 November 1973 and 1 January present Regulation should be the price level currently 1974 ; applicable in Italy, Whereas the economic situation in Italy necessitates taking another step towards uniformity of agricultural prices in the Community by fixing another more HAS ADOPTED THIS REGULATION : realistic representative rate ;

Whereas the Monetary Committee will be consulted Article 1 and whereas, in view of the urgency of the matter, the measures envisaged should be adopted under the conditions laid down in Article 3 (2) of Regulation No The following is added to Article 1 (2) of Regulation 129 ; ( EEC) No 2958 / 73 :

Whereas the fixing of such a representative rate would '(c) with effect from 28 January 1974 10.0 Italian lira = 0-140449 unit of account ' lead to an adjustment in the level of prices for agricul­ tural products in Italy ; whereas this result is consistent with the basic principle of uniformity of Article 2 prices in the Community ; whereas it was on the basis of this principle and its consequences that specific 1 . With effect from 28 January 1974 the interven­ provisions were laid down , in particular in Council tion price for beef and veal in Italy shall be increased Regulation (EEC) No 11 34/68 (5) of 30 July 1968 by 5 % . laying down rules for the implementation of Regula­ tion (EEC) No 653/68 on conditions for alterations to the value of the unit of account used for the common 2 . Article 4b of Regulation ( EEC) No 974/71 shall be applicable in this sector, taking into account the agricultural policy ; whereas these provisions cover provisions of paragraph 1 . ■ only the case of a change in the parity of a currency ; whereas they should also be applied in this case ; whereas the new representative rate should therefore Article 3 be included in Regulation ( EEC) No 2958 /73 , the other provisions of which remain unchanged ; This Regulation shall enter into force on the day of its publication in the Official Journal of the European (!) OJ No 106, 30 . 10 . 1962, p. 2553/62. Com munities. (2) OJ No L 263, 19 . 9 . 1973, p. 1 . (3) OJ No L 303, 1 . 11 . 1973, p. 1 . (4) OJ No L 305, 1 . 11 . 1973, p. 7. (fe) OJ No L 106, 12. 5 . 1971 , p. 1 . (5) OJ No L 188 , 1 . 8 . 1968, p. 1 . ( 7) OJ No L 353 , 22 . 12 . 1973 , p. 25 .

26 . 1 . 74 Official Journal of the European Communities No L 22/3

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

Done at Brussels, 25 January 1974.

For the Council

The President

J. ERTL