NoL263/2 OfficialJournaloftheEuropean Communities 19.9.73
REGULATION (EEC)No2544/73OFTHECOUNCIL
of19September 1973
ontheexchange ratetobeappliedinagriculture fortheDutchguilder
Whereastofixsucharepresentative ratewouldlead
toanadjustment ofagricultural pricesintheNether­
lands;whereasthisresultisconsistent withthebasic
principleofuniformity ofpricesintheCommunity ;
whereasitwasonthebasisofthisprincipleandits
consequences thatspecificprovisions werelaiddown
inCouncilRegulation (EEC)No1134/68(3)of30
July1968layingdownrulesfortheimplementation
ofRegulation (EEC)No653/68onconditions foralter­
ationstothevalueoftheunitofaccountusedforthe
commonagricultural policy;whereastheseprovisions
onlycoverthecaseofachangeintheparityofa
currency ;whereastheyshouldalsobeappliedinthis
case;
HASADOPTED THISREGULATION :
Article 1THECOUNCIL OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Economic Community ;
HavingregardtoCouncilRegulation No129(x)on
thevalueoftheunitofaccountandtheexchange
ratestobeappliedforthepurposesofthecommon
agricultural policy,aslastamended byRegulation
(EEC)No2543/73(2)andinparticular Article3(1)
thereof ;
HavingregardtotheproposalfromtheCommission ;
HavingregardtotheOpinion oftheMonetary
Committee ;
WhereasthesituationreferredtoinArticle3(1)of
Regulation No129,inwhichderogations maybe
madefromtheprinciple ofusingparvaluesfor
converting onecurrencyintoanother,nowobtainsin
variousMemberStates;
Whereas ,however ,ithasgenerallybeenpossibleto
solvetheprobelems posedbysuchasituation by
applyingmonetary compensatory amounts ,enabling
exchange ratestobemaintained whichcorrespond to
theparitiesofthecurrencies concerned ;
Whereas byreasonofthecustomsunionexisting
amongtheBeneluxcountries ,andthefactthatthese
Member Stateshaddecidedtomaintain betweentheir
currencies theratesprevailing before9May1971,the
systemofmonetary compensatory amountsdoesnot
applyintradebetweenthesecountrieswhich,forthe
purposesofthatsystem,aretreatedasoneMember
State;
Whereas on15September 1973theNetherlands
government decidedtoraisethecentralrateforthe
Dutchguilderby5%;whereas ,therefore ,thesystem
ofmonetarycompensatory amountsshouldalsoapply
intradebetween theBeneluxcountries ,sincefor
theseMember Statestheseamounts arecalculated on
thebasisofthedifference between thecentralrate
andtheparityforeachcurrency ,andthisdifference is
nolongerthesameforthesecountries ;
Whereas ,however ,thisresultcouldbeavoidedby
fixing,pursuanttothesaidArticle3,arepresentative
exchange ratefortheDutchguildersothatthediffer­
encebetweenthecentralrateandtherepresentative
ratecorresponds tothedifference existingforthe
Belgian/Luxembourg francbetweenthecentralrate
andtheparity;1.Wheretransactions tobecarriedoutinpursu­
anceofinstruments relatingtothecommonagricul­
turalpolicy,orspecificruleslaiddownunderArticle
235oftheTreaty,requiretheDutchguildertobe
expressed inanothercurrencyorinunitsofaccount ,
therateofexchange tobeappliedforconversion
shall,inderogation fromArticle2(1)ofRegulation
No129,betheratewhichcorresponds totherepresen­
tativerateforthatcurrency .
2.Therepresentative ratereferredtoinparagraph 1
shallbe:1Dutchguilder=0-2904unitsofaccount .
Article 2
Theprovisions ofRegulation (EEC)No1134/68,in
respectofanalteration oftherelationship between
theparityofthecurrencyofaMemberStateandthe
valueoftheunitofaccount ,shallapply.
Article3
1.ThisRegulation shallenterintoforceontheday
ofitspublication intheOfficialJournaloftheEuro­
peanCommunities .However ,attherequestofthe
interested partyitshallhaveeffectasfrom17
September 1973.
2.Itshallceasetohaveeffectatsuchtimeasthe
Kingdom oftheNetherlands shalldeclareanew
paritytotheInternational Monetary Fund.
(')OJNo106,30.10.1962,p.2553/62.
(-)Seep.1ofthisOfficialJournal . (■')O|NoL.1SX,I.S.1968,p.1.

19.9.73 NoL263/3 OfficialJournaloftheEuropeanCommunities
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,19September 1973.
FortheCouncil
ThePresident
I.NØRGAARD