WAS EXPRESSED IN DOLLARS .
27 FOR AS LONG AS THE RATE OF EXCHANGE OF THE UNITED STATES DOLLAR WAS TAKEN INTO CONSIDERATION FOR THE PURPOSE OF CALCULATING COMPENSATORY AMOUNTS THE SYSTEM IN FACT ENSURED A MEASURE OF PROTECTION AGAINST THE RISK OF DEVALUATION OF THE DOLLAR WHERE THE CONTRACT WAS EXPRESSED IN THAT CURRENCY .
28 SINCE NOTWITHSTANDING THE DEVALUATION OF THE UNITED STATES DOLLAR IN FEBRUARY 1973, THE PRESSURE ON THAT CURRENCY IN THE EARLY PART OF THE YEAR CONTINUED, THE COUNCIL DECIDED IN THE COURSE OF ITS MEETING ON 11 AND 12 MARCH 1973 THAT ON THE ONE HAND THE CENTRAL BANKS OF THE MEMBER STATES SHOULD CEASE TO SUPPORT THE DOLLAR AND ON THE OTHER HAND THAT THE CURRENCIES OF SIX OF THE MEMBER STATES SHOULD FLOAT VIS-A-VIS OTHER CURRENCIES WHILST KEEPING TO CERTAIN MARGINS OF FLUCTUATION AS BETWEEN THEMSELVES .
29 CONSEQUENTLY, FOLLOWING UPON THE COUNCIL'S REQUEST OF 12 MARCH 1973, THE COMMISSION ON 21 MARCH 1973 PROPOSED TO THE COUNCIL THAT REFERENCE TO THE DOLLAR SHOULD BE ABANDONED AND REPLACED AS REGARDS THE SIX MEMBER STATES WHOSE CURRENCIES WERE FLOATING TOGETHER, BY REFERENCE TO CENTRAL RATES AND, IN RESPECT OF THE THREE OTHER MEMBER STATES, BY REFERENCE TO REPRESENTATIVE RATES ESTABLISHED ON THE BASIS OF THE RATES FOUND TO EXIST ON THE MARKET DURING A GIVEN REFERENCE PERIOD .
30 THE POSSIBILITY OF THE ADOPTION BY THE COUNCIL OF THE COMMISSION'S PROPOSAL OF 21 MARCH, WHICH HAD BEEN EXPECTED SINCE 12 MARCH AND IMMEDIATELY BECAME KNOWN IN INTERESTED QUARTERS, BOTH THROUGH THE PRESS AND THROUGH THEIR REGULAR CONTACTS WITH THE COMMISSION, BECAME MORE LIKELY DAY BY DAY, ALL THE MORE SO SINCE THE COUNCIL'S DECISION OF 12 MARCH INVOLVED A DAILY CHANGE IN THE RATES OF EXCHANGE AS BETWEEN THE CURRENCIES OF THE MEMBER STATES AND THE DOLLAR .
31 THIS PROPOSAL WAS ADOPTED BY THE COUNCIL IN ITS REGULATION NO 1112/73 OF 30 APRIL 1973, WHICH WAS PUBLISHED ON THE SAME DAY AND ENTERED INTO FORCE ON 1 MAY 1973 .
32 UNDER THE PROVISIONS OF ARTICLE 3 OF REGULATION NO 1112/73 THE REGULATION APPLIED 'FROM THE DATE ON WHICH THE DETAILED RULES REQUIRED FOR ITS APPLICATION ... ENTER INTO FORCE '.
33 HAVING ADOPTED THE IMPLEMENTING REGULATIONS ON 30 MAY 1973 THE COMMISSION DID NOT PUBLISH THEM IN THE OFFICIAL JOURNAL UNTIL 4 JUNE 1973, ON WHICH DATE THEY ENTERED INTO FORCE .
34 IN ORDER TO EXAMINE IN THIS CONTEXT THE TRANSACTIONS INVOLVED IN THE DIFFERENT APPLICATIONS IT IS NECESSARY TO MAKE A DISTINCTION ACCORDING TO WHETHER THE EXPORT CONTRACTS WERE ENTERED INTO BEFORE OR AFTER THE PUBLICATION OF REGULATION NO 1112/73 .
CONTRACTS ENTERED INTO AFTER 30 APRIL 1973
35 THOSE APPLICANTS WHO ENTERED INTO EXPORT CONTRACTS AFTER 30 APRIL 1973 COULD NOT HAVE BEEN UNAWARE OF REGULATION NO 1112/73 AND THE NEW METHOD OF CALCULATING COMPENSATORY AMOUNTS .
36 NOTHING IN THAT REGULATION JUSTIFIES THE ASSUMPTION THAT IN THE IMPLEMENTING PROCEDURES THERE WOULD BE ANY TRANSITIONAL MEASURE WHATSOEVER IN