31976R1020

No L 115/66 1 . 5 . 76 Official Journal of the European Communities

COUNCIL REGULATION ( EEC) No 1020/76 of 29 April 1976 amending Regulation (EEC) No 557/76 as regards the exchange rate to be applied to the Italian lira in agriculture

THE COUNCIL OF THE EUROPEAN HAS ADOPTED THIS REGULATION : COMMUNITIES, Article 1 Having regard to the Treaty establishing the European In Article 2 ( 1 ) of Regulation (EEC) No 557/76, point Economic Community, (f) is replaced by the following : Having regard to Council Regulation No 129 on the '(f) for the Italian lira : value of the unit of account and the exchange rates to Lit 100 = 0 103842 unit of account ;'. be applied for the purposes of the common agricul­ tural policy (!), as last amended by Regulation (EEC) Article 2 No 2543/73 (2), and in particular Article 3 thereof, The following paragraph is added to Article 2 of Regu­ Having regard to the proposal from the Commission, lation (EEC) No 557/76 : '3. The representative rate of the Italian lira as Whereas Council Regulation (EEC) No 557/76 of 15 fixed by Regulation (EEC) No 1020/76 shall March 1976 on the exchange rates to be applied in apply : agriculture and repealing Regulation (EEC) No 475/75 (3), as amended by Regulation (EEC) No (a) from the dates shown in (a), (b) and (c) of para­ 650/76 (4), fixed a representative rate for the Italian graph 2 for the products mentioned therein ; lira ; whereas the movement of the Italian lira has indi­ (b) from the beginning of the 1976/77 marketing cated the advisability of fixing a new representative year for the other products for which the rate which reflects more closely the present economic marketing year has not commenced by 3 May situation ; whereas this rate should be applied in prin­ 1976 ciple from the dates on which a price change occurs ; (c) from 3 May 1976 in all other cases.' Whereas the Monetary Committee will be consulted Article 3 and whereas, in view of the urgency, the measures envisaged should be adopted in accordance with the This Regulation shall enter into force on the day of its conditions laid down in Article 3 (2) of Regulation No publication in the Official Journal of the European 129 , Communities.

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

Done at Luxembourg, 29 April 1976.

For the Council

The President

J. HAMILIUS

(>) OJ No 106, 30 . 10 . 1962, p. 2553/62. 0 OJ No L 263 , 19 . 9 . 1973 , p. 1 . (3) OJ No L 67, 15. 3 . 1976, p. 1 . (4) OJ No L 79 , 25 . 3 . 1976, p. 1 .