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COM(76)239
Vol.1976/0080

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COMMISSION OFTHEEUROPEAN COMMUNITIES
\ l
COM(76)239final
Brussels.19May1976
PROPOSALPORACOUNCILREGULATION (EEC)
i
amendingRegulation(SEC)No557/76ontheexchangerates
to"beappliedinagricultureandrepealingRegulation'(EEC)
No475/75 I
/,
(submittedtotheCouncil "bytheCommission)
C0M(76)239final

EXPLANATORY MEMORANDUMt
Council Regulation (EEC)NO557/76of15March 1976 ontheexchange
rates toheapplied inagriculture andrepealing Regulation (EEC)
No475/75»aslast amended hyRegulation (EEC)No1020/76,
extended toalterations tothegreen rates theprovisions ofCouncil
Regulation (EEC)NO1134/68of30July 1968 laying down rules forthe
implementation ofRegulation (EEC)NO653/68on'conditions foralterations
tothevalue oftheunit ofaccount used forthecommon agricultural
polioy .This Regulation provides ,inter alia ,fortheright toobtain
cancellation ofcertificates anddocuments indicating amounts which
have "been fixed inadvance .However ,itwas specified inRegulation
(EEC)NO557/76that theexercise ofthat right wasjustified only if
thefixing ofthenewrepresentative rates was disadvantageous forthe
party concerned . j
Inrespect ofproducts forwhich there aremonetary compensatory amounts ,
changes inthegreen rate canbedisadvantageous only with regard tothose
compensatory amounts ;since refunds andlevies remain unchanged in
national currency ,owing tothecoefficient applied tothem ,only the
compensatory amount tobegranted ,which infuture will belower ,maybe
disadvantageous foranoperator .Heisthen authorized tocancel his
certificate (Article l(l)ofRegulation (EEC)No571/76)
Theparty concerned may ,however ,request cancellation ,notbecause of
theabovementioned disadvantage ,but inorder toreceive ,forexample ,
arefund fixed inthe interim atamore attractive level .Itisobvious
that iftheright tocancel isexercised onalarge scale ,itmay ,insuch
cases ,seriously hinder theproper administration bytheCommunity ofa
particular agricultural market .Inthese circumstances ,itisdesirable to
laydown that theright maybereplaced byanother ,inparticular bythe
right tocompensatory fortheloss suffered .
From thefinancial noint ofview ,this proposal isnot likely toincrease
significantly expenditure under theGuarantee Section oftheEAGGP .In
fact itisintended toavoid certain drawbacks which could result from the
application ofthegeneral rule contained inArticle 4ofRegulation (EEC)
No1134/68andinArticle 5(2)ofRegulation (EEC)NO557/76-andwhich
could lead toamuch more important increase inthetotal expenditure for
agiven operation .

PiìOPOSAL PORACOUNCIL REGULATION (EiSC)
amending Regulation (EEC)No557/76ontheexchange
rates tobeapplied inagriculture andrepealing
Regulation (EEC)No475/75
THECOUNCIL OFTHEEUROPEAN COMMUNITIES , ' ' '
Having regard totheTreaty establishing theEuropean Economic Community ,
Having regard toCouncil Regulation Mb129onthe !value oftheunit of'
account andtheexchange rates tobeapplied forthepurposes ofthe
common agricultural policy^,aslastamended byRegulation (EEC)Wo'
(
2543/73 ,andinparticular Article 3thereof ,
VI
' V!
" ■ '< ' •" I
Having regard totheproposal from theCommission ,
Whereas Council Regulation (EEC)No557/76of15March 1916onthe >]
I ' , ' '•
exciiange rates tobeapplied inagricultjure andrepealing Rogulation 'i
(EEC)NO475/75 aslastamended byRegulation (EEC)No1020/76^, i
extended tothecases provided forinthesaidRegulation (TCRC)No 557/76 r
certain provisions ofCouncil
Regulation (ESC)NO1134/63of30July I960laying downrules forthe . , '^?
implementation ofRegulation (EEC)No653/68onconditions foralterations to .- ■*
thevalue oftheunit ofaccount used forthecommon agricultural policy ; |
Ï
v/hereas ,however ,asregards theright tocancel documents or .j
1»
certificates which refer toamount which have been the sub.ieot atanadvance fixing ,;
itwasprovided that theexercise ofsuch aright would bejustified only ifthe ]
persons concerned were placed -atadisadvantage asaresult ofthefixing of ,,
thenewreprésentative rates •
Whereas ,ifthis right were widely exercised ,itoould incertain cases
seriously impede good
Community management ofagiven agricultural market ;wnereas provision should
therefore bemade for ittobereplaced bytheright tocompensation ,forthe
disadvantage suffered , '
IIASADOPTE !)TilIS REGULATION :'' ' !
(1)0JNo106 ,30.10.1962 ,p.2553/62
(2)0JNoL263 ,19.9.1073 ,P.1
(3)0JNoL67,15.3.1976 ,p.1
(4)0JNoL115 ,I.5.I97Ó ,p.66
(5)0JNoL183 ,1.8.1968 ,>p.1

Article' 1
Thefollowing subparagraph ishereby added toArtiole 5(2JofReflation
(EEC)No557/76:
"Provision maybemade forthis disadvantage tobecompensate forbyother suitable
measures .Insuch acase ,theprovisions referred tointhefirst subparagraph
shall notapply ".
Article 2
This Regulation shall enter into force onthedayofitspublication inthe
Official Journal oftheEuropean Communities . ' '
This Regulation shall bebinding initsentirety anddirectly applicable
inall Member States .
1
'I .. •, • ^
Done atBrussels . .For the Council .