31976L0872

20 . 11 . 76 Official Journal of the European Communities No L 320/27

II

(Acts whose publication is not obligatory)

COUNCIL

*■

COUNCIL DIRECTIVE of 16 November 1976 amending Directive 75/432/ EEC on aid to shipbuilding

(76/872/ EEC)

THE COUNCIL OF THE EUROPEAN Whereas Directive 75/432/ EEC should be amended COMMUNITIES, accordingly,

Having regard to the Treaty establishing the European Economic Community, and in particular Articles 92 HAS ADOPTED THIS DIRECTIVE : (3) (d) and 1 1 3 thereof,

Having regard to the proposal from the Commission , Article 1 Whereas Council Directive 75/432/EEC of 10 July The following fourth indent is added to Article 2 (2) 1975 on aid to shipbuilding (') establishes a new cate­ (b) of Directive 75/432/EEC : gory of aid which may be considered compatible with the common market ; '— in the United Kingdom , in the form of a scheme of cost escalation insurance, provided Whereas Directive 75/432/EEC stipulates uniform that the terms of the scheme are made progres­ principles, as required by Article 113, for the applica­ tion of the schemes of cost escalation insurance for sively more restrictive .' exports of ships to third countries ; Article 2 Whereas, more particularly, Article 2 (2) (b) and (3) of Directive 75/432/ EEC specify the terms on which This Directive is addressed to the Member States . such schemes may be operated ;

Whereas the United Kingdom scheme of cost escala­ tion insurance is designed to facilitate the reorganiza­ Done at Brussels, 16 November 1976. tion of the structure of the United Kingdom ship­ building industry by keeping enough business going For the Council for the reorganization to be conducted in an orderly and progressive fashion ; whereas it may therefore be The President brought within the Directive if it conforms to these M. van der STOEL uniform principles ;

(') OJ No L 192, 24 . 7 . 1975, p. 27 .