31975R2638

18 . 10 . 75 Official Journal of the European Communities No L 269 / 1

I

(Acts whose publication is obligatory)

REGULATION (EEC) No 2638/75 OF THE COUNCIL of 16 October 1975 amending Regulation (EEC) No 475/75 with regard to the rate of exchange to be applied in agriculture for the Irish pound and the pound sterling

THE COUNCIL OF THE EUROPEAN laying down rules for the implementation of Regula­ COMMUNITIES, tion (EEC) No 653/68 on conditions for alterations to the value of the unit of account used for the common agricultural policy ; whereas those provisions refer Having regard to the Treaty establishing the European only to alterations in the parity of a currency ; whereas Economic Community ; the application of those provisions is also justified in the present case of a change in the representative Having regard to Council Regulation No 129 ( l) on rate ; the value of the unit of account and the exchange rates to be applied for the purposes of the common Whereas the Monetary Committee will be consulted agricultural policy, as last amended by Regulation on the fixing of the new representative rates ; whereas, (EEC) No 2543/73 (2), and in particular Article 3 in view of the urgency of the matter, the measures thereof ; should be adopted in accordance with the conditions laid down in Article 3(2) of Regulation No 129, Having regard to the proposal from the Commission ;

Whereas Council Regulation (EEC) No 475/75 (3) of 27 February 1975 on the exchange rates to be applied HAS ADOPTED THIS REGULATION : in agriculture, as amended by Regulation (EEC) No 1 925/75 (4), fixed, for the currencies of the Member States, and in particular for the Irish pound and the pound sterling, the representative exchange rate to be Article 1 used in agriculture ;

In Article 1 (2) of Regulation (EEC) No 475/75, the Whereas it is in the interests of the Community to representative rates referred to in (e) and (h) shall be revert to using a price system ; whereas that aim may replaced by the following rates : more easily be attained by fixing, for each of the currencies in question, a new representative rate which is closer to the real economic situation ; (e) for the Irish pound : £ 1 Irish = 1-72914 units of account ; whereas, in applying those rates, any particular diffi­ culties which may arise in certain sectors should be (h) for the pound sterling : £ 1 sterling = 1-75560 taken into account ; units of account.

Whereas the problems presented by the alteration of the relationship between the unit of account and a Article 2 national currency have resulted in the adoption of Regulations in that sphere, and in particular Council Regulation (EEC) No 1134/68(5) of 30 July 1968 The provisions of Regulation (EEC) No 1134/68 relating to the alteration of the relationship between (•) OJ No 106, 30 . 10. 1962, p. 2553/62. the parity of the currency of a Member State and the (2) OJ No L 263, 19. 9. 1973, p. 1 . value of the unit of account shall apply in respect of (3) OJ No L 52, 28 . 2. 1975, p. 28 . (4) OJ No L 195, 26. 7. 1975, p. 35. the change in the representative rate for the Irish (5) OJ No L 188 , 1 . 8 . 1968 , p. 1 . pound and the pound sterling.

No L 269/2 18 . 10 . 75 Official Journal of the European Communities

Article 3 1975, except for the amounts referred to in the second indent, 1 . This Regulation shall enter into force on the day — in respect of the amounts fixed in units of account of its publication in the Official Journal of the Euro­ referring to common wheat, the neiv representa­ pean Communities. tive rates shall take effect from 1 July 1976, 2. The new representative rates shall take effect — in respect of beef and veal, the new representative from 27 October 1975, Article 2 of Regulation (EEC) rates shall take effect from 5 January 1976, except No 475/75 to remain applicable for the products for for the amount referred to in the following indent, which the 1975/76 marketing year has not yet begun — in respect of the amount of the premium referred on that date or for which the prices for 1975/76 are to in Article 1 ( 1 ), second subparagraph, of not yet applicable on that date. Council Regulation (EEC) No 464/75 ( !) of 27 February 1975 establishing systems of premiums However : for producers of bovine animals, the representative — in respect of the cereals sector, the new represen­ rates for the period of application of this Regula­ tative rates shall take effect from 3 November tion shall be those valid before 4 August 1975.

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

Done at Luxembourg, 16 October 1975.

For the Council

The President

M. PEDINI

(') OJ No L 52, 28 . 2. 1975, p. 5.