NoL52/28 OfficialJournaloftheEuropeanCommunities 28.2.75
REGULATION (EEC)No475/75OFTHECOUNCIL
of27February 1975
ontheexchangeratestobeappliedinagriculture
THECOUNCIL OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishing the
European Economic Community ,andinparticular
Articles28,43and235thereof;whosecurrencies havedepreciated ,themonetary
compensatory amountscurrentlyappliedshouldbe
reduced;
Whereasthisobjectivecanbeattainedbyfixing
arepresentative rateforthecurrencies oftheMember
Statesconcerned atalevelmorecloselyrelatedto
theactualeconomic situation inagriculture ;
whereastheseratesshouldbesetoutinasingle
text;
Whereasitisalsopossibletoreducetheimpactof
compensatory amounts inthoseMember States
whosecurrencies havedepreciated ;
Whereastofixsucharepresentative ratewouldlead
toanadjustment ofagricultural prices;whereasthe
problemsraisedbythemodification ofexchange
ratesarethesubjectoflegalprovisions ,andin
particular CouncilRegulation (EEC)No1134/68(3)
of30July1968layingdownrulesforthe
implementation ofRegulation (EEC)No653/68on
conditions foralterations tothevalueoftheunit
ofaccountusedforthecommon agricultural
policy;whereastheseprovisions onlycoverthecase
ofachangeintheparityofacurrency ;whereas
theyshouldalsobeappliedinthiscase;
Whereastheimpactofthismeasureontheeconomy
oftheMemberStatesconcerned shouldbemoderated
asfaraspossible;whereasprovisionshouldtherefore
bemadefortheadjustment ofpricesandamounts
fixedinunitsofaccounttotakeplacewithina
reasonable periodlinkedinprincipletothebeginning
ofthemarketing yearortoachangeinprices,and
forthistobedonetotheextentnecessarytoprevent,
inparticular ,areduction intheirlevelsinnational
currencies ;
Whereasitisalsonecessarytoensurethatthedelay
intheautomaticadjustment ofpricesdoesnotcause
difficulties fortrade;whereastothisenditis
necessarytotakeaccountoftheeffectofadelay
inapplyingthenewpricelevelwhenfixingthe
monetary compensatory amounts introduced by
CouncilRegulation (EEC)No974/71(4)of
12May1971oncertainmeasures ofconjuncturalHavingregardtoCouncilRegulation No129(x)on
thevalueoftheunitofaccountandtheexchange
ratestobeappliedforthepurposesofthecommon
agricultural policy,aslastamendedbyRegulation
(EEC)No2543/73(2),andinparticular Article3
thereof;
HavingregardtotheproposalfromtheCommission ;
HavingregardtotheOpinionoftheEuropean
Parliament ;
HavingregardtotheOpinionoftheEconomic and
SocialCommittee ;
WhereasthesituationreferredtoinArticle3(1)of
Regulation No129,inrespectofwhichderogations
maybemadefromtheprincipleofusingparities
forconverting onecurrencyintoanother,now
obtainsinvariousMemberStates;
Whereas,however,ithasgenerally beenpossible
tosolvetheproblemsposedbysuchasituationby
applyingmonetarycompensatory amounts ,enabling
exchange ratestobemaintained whichcorrespond
totheparitiesofthecurrencies concerned ;whereas
thisarrangement hasledtodifferentpricelevelsin
theMemberStatesaffected ;whereas inorderto
preventthemaintenance ofunchanged ratesforthe
commonagricultural policyfromleadingtoan
increaseinthedifferences betweenprice-levels
expressed innationalcurrencies whenpricesare
increased ,andinviewofthefactthatcertain
adjustments maybemadetotheratestoadaptthem
totherealeconomic situations intheMemberStates
(»)OTNo106,30.10.1962,p.2553/62.
(2)OfNoL263,19.9.1973,p.1.OJNoL1SS,1.8.196S,p.1.
4iOJNoL106,12.5.1971,p.1.

28.2.75 OfficialJournaloftheEuropeanCommunities NoL52/29
policytobetakeninagriculture following the
temporary wideningofthemarginsoffluctuation for
thecurrencies ofcertainMember States,aslast
amendedbyRegulation (EEC)No3259/74(*);
Whereasinthebeefandvealsectorthemarketprice
hasforsometimebeenlowerthantheintervention
price;whereasitisnecessarytobeabletotakethis
intoaccountwhenfixingthemonetarycompensatory
amounts ;
WhereastheMonetary Committee willbeconsulted ;
whereas,inviewoftheurgency,themeasures
envisagedshouldbeadoptedinaccordance withthe
conditions laiddowninArticle3(2)ofRegulation
No129,Article2
1.Theadjustment oftheintervention andbuying-in
pricesfixedforthepurposes ofthecommon
agricultural policyconsequent onapplication ofthe
newrepresentative ratesshalltakeplace:
(a)on1August1975forpigmeat;
(b)on16September 1975formilkandmilkproducts
intheBeneluxcountries ;
(c)on16December 1975forwine;
(d)on1January1976fortobaccoandfishery
productsinGermanyandtheBeneluxcountries ;
(e)atthebeginning ofthe1975/76marketing year
fortheotherproductsforwhichthemarketing
yearhasnotcommenced onthedateonwhich
thisRegulation shallapply,andformilkand
milkproductsintheMemberStatesotherthan
theBeneluxcountries ;
(f)inallothercases,onthedateonwhichthis
Regulation shallapply.
2.However ,inrespectofeggs,poultry,ovalbumin
andlactalbumin ,accountshallbetaken,untilthe
endofthe1974/75cerealsmarketing year,ofthe
impactofthemeasuresreferredtoinparagraph 1.
Article3
1.TheamountstobepaidbytheMemberStates
inrespectofotherintervention operations onthe
internalmarket,inaccordance withtheregulations
establishing acommon organization ofthe
agricultural markets,shallbefixedinthelightof
theimpactofthemeasuresreferredtoinArticle2.
2.Fortheproducts forwhichmonetary
compensatory amountsareapplicable ,accountshall
betakeninthefixingoftheseamountsoftheimpact
ofthemeasures referredtoinArticle2.
3.Inthecasewhere,whentheRegulations
establishing acommon organization ofthe
agricultural marketsareapplied,theinternalmarket
pricesaretoberetained,theimpactofthemeasures
referred toinArticle 2shallbetakeninto
consideration .
Article4
1.Detailed rulesfortheapplication ofthis
Regulation ,andinparticular themodifications to
bemadeonthebasisofthisRegulation ,toother
pricesandamountsfixedforthepurposesofthe
commonagricultural policy,andtotheamounts
fixedinaccordance withspecificprovisions under
Article235oftheTreaty,shallbeadopted inHASADOPTED THISREGULATION :
Article 1
1.Wheretransactions tobecarriedoutinpursuance
ofinstruments relatingtothecommonagricultural
policy,orspecificruleslaiddownunderArticle
235oftheTreaty,requirethecurrencies referred
toinparagraph 2tobeexpressed inanother
currencyorinunitsofaccount,therateofexchange
shall,inderogation fromArticle2(1)ofRegulation
No129,betheratewhichcorresponds tothe
representative rateforthatcurrency .
2.Therepresentative ratereferredtoinparagraph 1
shallbe:
(a)fortheBelgianfrancandtheLuxembourg franc:
Bfr/Lfr1=0-0201450 unitofaccount ;
(b)fortheDanishkroner:
Dkr1—0-131956unitofaccount;
(c)fortheGermanmark:
DM1=0-279429unitofaccount;
(d)fortheFrenchfranc:
FF1—0-177520unitofaccount ;
(e)fortheIrishpound:
£1Irish=1-86151unitsofaccount;
(f)fortheItalianlira:
Lit100—0-116686unitofaccount;
(g)fortheDutchguilder:
Fl1=0-292505unitofaccount .
(h)fortheEnglishpound:
£1sterling=1-96178unitsofaccount .
(»)OJNoL349,28.12.1974,p.10.

NoL52/30 OfficialJournaloftheEuropeanCommunities 28.2.75
accordance withtheprocedure laiddownin
Article26ofRegulation No120/67/EEC(*)orin
thecorresponding ArticleoftheotherActs
concerning agriculture establishing asimilar
procedure asthecasemaybe,ifnecessary by
derogation fromtheprovisions forthefixingof
priceslaiddownintherelevantregulations where
andsolongasstrictlynecessary totakeaccount
ofthisRegulation .
2.Asregardstheamountsfixedinunitsofaccount
whicharenotconnected withthefixingofprices,
thesearrangements mayconsistofanincreaseof
2-27%.
Article5
1.Thelastsubparagraph ofArticle2(1)(b)of
Regulation (EEC)No974/71isreplacedbythe
following :
'However ,thisaverageshallbereducedby1-25
pointsinthecaseofMember Stateswhose
currencies havedepreciated .'
2.Paragraph 3belowisaddedtoArticle2of
Regulation (EEC)No974/71:
'3.Wherethemarketpriceforadultbovine
animals remains lowerthantheintervention
priceforarelativelylongperiod,themonetary
compensatory amountsapplicable inthebeef
andvealsectormaybecorrespondingly modified
inaccordance withtheprocedure laiddownin
Article6.'Article6
Theprovisions ofRegulation (EEC)No1134/68in
respectofanalterationoftherelationship between
theparityofthecurrencyofaMemberStateand
thevalueoftheunitofaccount,shallapply.
Article7
CouncilRegulation (EEC)No2544/73(2)of
19September 1973ontheexchangeratetobeapplied
inagriculture fortheDutchguilder,Council
Regulation (EEC)No2498/74(3)of2October1974
fixingrepresentative conversion ratestobeapplied
inagriculture forthecurrencies ofthenewMember
States,andArticle 1ofCouncilRegulation (EEC)
No2958/73(4)of31October1973ontheexchange
rateappliedinagriculture fortheItalianlira,are
herebyrepealedwitheffectfrom3March1975.
Article8
1.ThisRegulation shallenterintoforceontheday
ofitspublication intheOfficialJournalofthe
European Communities .
Itshallapplyfrom3March1975.
2.Therepresentative ratereferredtoinArticle1
shallceasetobeapplicable forthecurrencyofa
MemberStateatsuchtimeasthatStateshalldeclare
anewparitytotheInternational Monetary Fund.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,27February 1975.
FortheCouncil
ThePresident
M.A.CLINTON
(2)OJNoL263,19.9.1973,p.2.
(3)OJNoL268,3.10.1974,p.6.
(4)OJNoL303,1.11.1973,p.1. HOJNo117,19.6.1967,p.2269/67.