TO AN INCREASE IN THE DIFFERENCE BETWEEN PRICE-LEVELS EXPRESSED IN NATIONAL CURRENCIES WHEN PRICES ARE INCREASED , AND IN VIEW OF THE FACT THAT CERTAIN ADJUSTMENTS MAY BE MADE TO THE RATES TO ADAPT THEM TO THE REAL ECONOMIC SITUATIONS IN THE MEMBER STATES , REPRESENTATIVE RATES FOR THE CURRENCIES OF THE MEMBER STATES CONCERNED SHOULD BE FIXED AT LEVELS MORE CLOSELY RELATED TO THE ACTUAL ECONOMIC SITUATION ; WHEREAS AT THE SAME TIME ALL THESE REPRESENTATIVE RATES SHOULD BE RE-PUBLISHED IN A NEW TEXT ;
WHEREAS THE IMPACT OF THIS MEASURE ON THE ECONOMIES OF THE MEMBER STATES CONCERNED SHOULD BE MODERATED AS FAR AS POSSIBLE ; WHEREAS , FOR THIS REASON , THE NEW RATES SHOULD BE APPLIED WITHIN A REASONABLE PERIOD , COINCIDING IF POSSIBLE WITH THE BEGINNING OF THE MARKETING YEAR OR WITH A CHANGE IN PRICES ;
WHEREAS IT IS POSSIBLE TO REDUCE STILL FURTHER THE EFFECTS OF THE COMPENSATORY AMOUNTS ON MEMBER STATES WITH DEPRECIATED CURRENCIES ; WHEREAS TO THIS END CHANGES SHOULD BE MADE TO ARTICLE 2 ( 1 ) ( B ) OF COUNCIL REGULATION ( EEC ) N 974/71 OF 12 MAY 1971 ON CERTAIN MEASURES OF CONJUNCTURAL POLICY TO BE TAKEN IN AGRICULTURE FOLLOWING THE TEMPORARY WIDENING OF THE MARGINS OF FLUCTUATION OF THE CURRENCIES OF CERTAIN MEMBER STATES ( 5 ) , AS LAST AMENDED BY REGULATION ( EEC ) N 475/75 ( 6 ) ;
WHEREAS TO FIX SUCH A REPRESENTATIVE RATE WOULD LEAD TO AN ADJUSTMENT OF AGRICULTURAL PRICES ; WHEREAS THE PROBLEMS RAISED BY THE MODIFICATION OF EXCHANGE RATES ARE THE SUBJECT OF COMMUNITY PROVISIONS , IN PARTICULAR COUNCIL REGULATION ( EEC ) N 1134/68 OF 30 JULY 1968 LAYING DOWN RULES FOR THE IMPLEMENTATION OF REGULATION ( EEC ) N 653/68 ON CONDITIONS FOR ALTERATIONS TO THE VALUE OF THE UNIT OF ACCOUNT USED FOR THE COMMON AGRICULTURAL POLICY ( 7 ) ; WHEREAS THESE PROVISIONS ONLY COVER THE CASE OF A CHANGE IN THE PARITY OF A CURRENCY ; WHEREAS THEY SHOULD ALSO BE APPLIED IN THIS CASE ; WHEREAS , HOWEVER , IN SO FAR AS THE PARTIES CONCERNED MAY REQUEST THE CANCELLATION OF DOCUMENTS OR CERTIFICATES , SUCH APPLICATION WOULD BE JUSTIFIED ONLY IF THEY ARE PLACED AT A DISADVANTAGE AS A RESULT OF THE FIXING OF THE NEW REPRESENTATIVE RATES ;
WHEREAS THE MONETARY COMMITTEE WILL BE CONSULTED ; WHEREAS , IN VIEW OF THE URGENCY , THE MEASURES ENVISAGED SHOULD BE ADOPTED IN ACCORDANCE WITH THE CONDITIONS LAID DOWN IN ARTICLE 3 ( 2 ) OF REGULATION N 129 ,
HAS ADOPTED THIS REGULATION :
ARTICLE 1
1 . WHERE TRANSACTIONS TO BE CARRIED OUT IN PURSUANCE OF INSTRUMENTS RELATING TO THE COMMON AGRICULTURAL POLICY , OR SPECIFIC RULES LAID DOWN BY VIRTUE OF ARTICLE 235 OF THE TREATY , REQUIRE THE CURRENCIES REFERRED TO IN ARTICLE 2 TO BE EXPRESSED IN ANOTHER CURRENCY OR IN UNITS OF ACCOUNT , THE RATE OF EXCHANGE SHALL , IN DEROGATION FROM ARTICLE