Regulation (EEC) No 1608/74 of the Commission of 26 June 1974 on special provisions in respect of monetary compensatory amounts
Official Journal L 170 , 27/06/1974 P. 0038 - 0039
Greek special edition: Chapter 03 Volume 10 P. 0229
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REGULATION ( EEC ) NO 1608/74 OF THE COMMISSION
OF 26 JUNE 1974
ON SPECIAL PROVISIONS IN RESPECT OF MONETARY COMPENSATORY AMOUNTS
THE COMMISSION OF THE EUROPEAN COMMUNITIES ,
HAVING REGARD TO THE TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY ;
HAVING REGARD TO COUNCIL REGULATION ( EEC ) NO 974/71 ( 1 ) OF 12 MAY 1971 ON CERTAIN MEASURES OF CONJUNCTURAL POLICY TO BE TAKEN IN AGRICULTURE FOLLOWING THE TEMPORARY WIDENING OF THE MARGINS OF FLUCTUATION FOR THE CURRENCIES OF CERTAIN MEMBER STATES , AS LAST AMENDED BY REGULATION ( EEC ) NO 3450/73 ( 2 ) , AND IN PARTICULAR ARTICLE 6 ( 1 ) THEREOF ;
WHEREAS REGULATION ( EEC ) NO 974/71 INTRODUCED MONETARY COMPENSATORY AMOUNTS IN TRADE WITH MEMBER STATES AND THIRD COUNTRIES TO COMPENSATE FOR THE EFFECTS OF MONETARY MEASURES WHICH MIGHT OTHERWISE HAVE DISTURBED THE PROPER FUNCTIONING OF THE COMMON AGRICULTURAL POLICY ; WHEREAS , HOWEVER , IN SPITE OF THE INTRODUCTION OF THIS SYSTEM , IT HAS NOT BEEN POSSIBLE TO ENSURE STABILITY OF TRADE IN EVERY CASE ; WHEREAS , IN EFFECT , EVERY DECISION AIMED AT FIXING OR ALTERING , IN RESPECT OF A CURRENCY , THE CENTRAL RATE OR THE REPRESENTATIVE RATE USED IN THE CONTEXT OF THE COMMON AGRICULTURAL POLICY OR , FURTHERMORE , AT PERMITTING A CURRENCY TO FLOAT IN RELATION TO THE CURRENCIES OF THE MEMBER STATES WHERE THE FLUCTUATION OF THE RATES OF EXCHANGE IS KEPT WITHIN A MAXIMUM SPREAD OF 2,25 % PROVOKES NEW DIFFICULTIES IN TRADE ;
WHEREAS WHEN SUCH AN EVENT HAS OCCURRED IN A MEMBER STATE , THE COMMISSION HAS , AS A GENERAL RULE , TAKEN SPECIFIC MEASURES TO DEAL WITH THE CASES OF PERSONS COMMITTED TO PERFORMING A CONTRACT CONTAINING PREFIXED CONDITIONS AND FOR WHOM THE MONETARY EVENT INVOLVED AN INCREASED CHARGE ON IMPORTS OR EXPORTS ;
WHEREAS , HOWEVER , SUCH SPECIFIC MEASURES HAVE NOT PROVED TO BE ENTIRELY SATISFACTORY ; WHEREAS THEY HAVE ALSO PROVED TO BE DIFFICULT TO ADMINISTER AS THEY EQUALLY RELATE TO OPERATIONS ON WHICH THE MONETARY EVENT HAS IN FACT NO DAMAGING EFFECTS WHICH CAN LEAD TO DIFFERING APPLICATIONS IN THE MEMBER STATES ;
WHEREAS IT THEREFORE SEEMS APPROPRIATE TO INTRODUCE A CERTAIN FLEXIBILITY INTO THE MONETARY RULES PERMITTING EACH INDIVIDUAL CASE TO BE EXAMINED IN THE LIGHT OF THE LOSS SUFFERED WHILST MAINTAINING MEASURES TO ASSURE A COORDINATED APPLICATION THEREOF ;
WHEREAS TO ENSURE THE PRACTICAL APPLICATION OF A DISCRETIONARY MEASURE OF THIS NATURE IT IS APPROPRIATE TO LAY DOWN CERTAIN CRITERIA FOR ITS EXERCISE DEALING IN PARTICULAR WITH THE EVIDENCE WHICH AN INTERESTED PARTY MUST PROVIDE IN ORDER TO ESTABLISH , ON THE ONE HAND , THAT IN THE PARTICULAR CIRCUMSTANCES OF THE CASE IN POINT , IT WAS NOT NECESSARY