31974R2670

23 . 10 . 74 Official Journal of the European Communities No L 286/ 1

I

(Acts whose publication is obligatory)

REGULATION ( EEC) No 2670 / 74 OF THE COUNCIL of 21 October 1974 amending Regulation (EEC) No 2958 /73 on the exchange rate applied in agricul­ ture for the Italian lira

THE COUNCIL OF THE EUROPEAN tural products in Italy ; whereas this result is COMMUNITIES, consistent with the basic principle of uniformity of prices in the Community ; whereas this principle and Having regard to the Treaty establishing the European its consequences have led to appropriate provisions Economic Community ; being adopted ; in particular in Council Regulation Having regard to Council Regulation No 1 29 (') on (EEC) No 1 1 34/68 (5 ) of 30 July 1968 laying down the value of the unit of account and the exchange rules for the implementation of Regulation ( EEC) No rates to be applied for the purposes of the common 653 / 68 on conditions for alterations to the value of agricultural policy, as last amended by Regulation the unit of account used for the common agricultural ( EEC) No 2543 / 73 (2 ), and in particular Article 3 policy ; whereas these provisions cover only the case thereof ; of a change in the parity of a currency ; whereas they Having regard to the proposal from the Commission ; should also be applied in this case ; whereas the new representative rate should therefore be included in Whereas Article 1 of Council Regulation ( EEC) No Regulation ( EEC) No 2958 / 73 , the other provisions of 2958 / 73 (3 ) of 31 October 1973 on the exchange rates which remain in force , applied in agriculture for the Italian lira, as last amended by Regulation ( EEC) No 1 847/74 (4 ), provided for the application of a representative rate HAS ADOPTED THIS REGULATION : for the Italian lira ; Article 1 Whereas the economic situation in Italy necessitates taking another step forwards uniformity of agricultural The following is added to Article 1 ( 2) of Regulation prices in the Community by fixing another more ( EEC) No 2958 / 73 : realistic representative rate ; '(e) with effect from 28- October 1 974 : Whereas the Monetary Committee will be consulted 100 Italian lira = 0-1 20048 unit of account '. and whereas , in view of the urgency of the matter, the measures envisaged should be adopted under the Article 2 conditions laid down in Article 3 ( 2) of Regulation No 129 ; This Regulation shall enter into force on the day of its Whereas the fixing of such a representative rate would publication in the Official Journal of the European lead to an adjustment in the level of prices for agricul­ Communities.

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

Done at Luxembourg, 21 October 1974. Eor the Council The President CH . BONNET

(') O ) No 106 , 30 . 10 . 1962 , p. 2SS.V62 . (-') O'l No L 263 , 19 . 9 . 1973 , p. I. (■') Of No L 303 , I. 1 I. 1973 , p. 1 . (4 ) 0"| No L 1 9 S, IS . 7 . 1974, p. I. (*) OJ No L 1 88 , I. 8 . 1968 , p. I.