NoL22/2 OfficialJournaloftheEuropeanCommunities 26.1.74
REGULATION (EEC)No197/74OFTHECOUNCIL
of25January 1974
amending inparticular Regulation (EEC)No2958/73ontheexchange rate
appliedinagriculture fortheItalianlira
WhereasArticle4bofCouncilRegulation (EEC)No
974/71(6)of12May1971oncertainmeasures of
conjunctural policytobetakeninagriculture
followingthetemporary widening ofthemarginsof
fluctuation forthecurrencies ofcertainMember
States,aslastamended byRegulation (EEC)No
3450/73(7),providedthatinprincipletheintervention
andpurchasepricesapplicable inItalyshallbefixed,
untiltheendofthe1973/74marketing year,atthe
levelresultingfromtheapplication oftheprovisions
inforceon31December 1973,expressed inItalian
lira;
Whereasinviewoftherepercussions whichthesitua­
tiononthebeefandvealmarketinItalyisalready
havingonthelevelofproduction andwhichitmay
thereforehaveonthegeneralbalanceoftheeconomy
itisnecessary thatthisnewrepresentative ratebe
appliedimmediately inthebeefandvealsector;
whereasthebasisfordetermining theincidence ofthe
presentRegulation shouldbethepricelevelcurrently
applicable inItaly,THECOUNCIL OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Economic Community ,andinparticular Article103
thereof ;
HavingregardtoCouncilRegulation No129(')on
thevalueoftheunitofaccountandtheexchange
ratestobeappliedforthepurposesofthecommon
agricultural policy,aslastamended byRegulation
(EEC)No2543/73(2),andinparticular Article3
thereof ;
HavingregardtotheproposalfromtheCommission ;
WhereasArticle 1ofCouncilRegulation (EEC)No
2958/73(3)of31October1973ontheexchange rates
appliedinagriculture fortheItalianlira,asamended
byRegulation (EEC)No2996/73(4),providedforthe
application ofrepresentative ratesfortheItalianlira
witheffectfrom 1November 1973and1January
1974;
Whereastheeconomic situationinItalynecessitates
takinganothersteptowardsuniformity ofagricultural
pricesintheCommunity byfixinganothermore
realisticrepresentative rate;
WhereastheMonetary Committee willbeconsulted
andwhereas,inviewoftheurgencyofthematter,the
measures envisaged shouldbeadoptedunderthe
conditions laiddowninArticle3(2)ofRegulation No
129;
Whereasthefixingofsucharepresentative ratewould
leadtoanadjustment inthelevelofpricesforagricul­
turalproducts inItaly;whereasthisresultis
consistent withthebasicprinciple ofuniformity of
pricesintheCommunity ;whereasitwasonthebasis
ofthisprincipleanditsconsequences thatspecific
provisions werelaiddown,inparticular inCouncil
Regulation (EEC)No1134/68(5)of30July1968
layingdownrulesfortheimplementation ofRegula­
tion(EEC)No653/68onconditions foralterations to
thevalueoftheunitofaccountusedforthecommon
agricultural policy;whereastheseprovisions cover
onlythecaseofachangeintheparityofacurrency ;
whereastheyshouldalsobeappliedinthiscase;
whereasthenewrepresentative rateshouldtherefore
beincluded inRegulation (EEC)No2958/73,the
otherprovisions ofwhichremainunchanged ;HASADOPTED THISREGULATION :
Article 1
Thefollowing isaddedtoArticle 1(2)ofRegulation
(EEC)No2958/73:
'(c)witheffectfrom28January197410.0Italian
lira=0-140449 unitofaccount'
Article 2
1.Witheffectfrom28January1974theinterven­
tionpriceforbeefandvealinItalyshallbeincreased
by5%.
2.Article4bofRegulation (EEC)No974/71shall
beapplicable inthissector,takingintoaccountthe
provisions ofparagraph 1.■
Article3
ThisRegulation shallenterintoforceonthedayofits
publication intheOfficialJournaloftheEuropean
Communities.(!)OJNo106,30.10.1962,p.2553/62.
(2)OJNoL263,19.9.1973,p.1.
(3)OJNoL303,1.11.1973,p.1.
(4)OJNoL305,1.11.1973,p.7.
(5)OJNoL188,1.8.1968,p.1.(fe)OJNoL106,12.5.1971,p.1.
(7)OJNoL353,22.12.1973,p.25.

26.1.74 OfficialJournaloftheEuropeanCommunities NoL22/3
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels ,25January1974.
FortheCouncil
ThePresident
J.ERTL