CELEX: 31976R0650
Language: en
Date: 1976-03-24 00:00:00
Title: Council Regulation (EEC) No 650/76 of 24 March 1976 amending the rate of exchange to be applied to the French franc in the agricultural sector

25 . 3 . 76                         Official Journal of the European Communities                             No L 79/ 1
                                                             I
                                            (Acts whose publication is obligatory)
                                       COUNCIL REGULATION (EEC) No 650/76
                                                     of 24 March 1976
               amending the rate of exchange to be applied to the French franc in the agricultural
                                                           sector
 THE COUNCIL OF THE EUROPEAN COMMUNITIES,                          conditions laid down in Article 3 (2) of Regulation
                                                                  No 129,
 Haying regard to the Treaty establishing the Euro­
 pean Economic Community,                                         HAS ADOPTED THIS REGULATION :
 Having regard to Council Regulation No 129 on the
 value of the unit of account and the exchange rates                                       Article 1
 to be applied within the framework of the common
 agricultural policy (*), as last amended by Regulation           In Article 2 ( 1 ) of Regulation (EEC) No 557/76,
 (EEC) No 2543/73 (2), and in particular Article 3                subparagraph (d) is replaced by the following:
 thereof,
                                                                       '(d) for the French franc:
 Having regard to the proposal from the Commission,                         FF 1 = 0-177520 unit of account;'.
 Whereas Council Regulation (EEC) No 557/76 of                                            Article 2
 15 March 1976 on the exchange rate to be applied
 in the agricultural sector and repealing Regulation
 (EEC) No 475 /75 (8), introduced a representative                The text of Article 2 of Council Regulation (EEC)
 rate for the French franc to take effect in principle at         No 675/75 of 4 March 1975 fixing for the 1975
 the beginning of the marketing year for the various              harvest the amount of the premium granted to
 agricultural products and, in certain cases, from                purchasers of leaf tobacco (4), as amended by Regu­
15 March 1976 ; whereas the movement of the French                lation (EEC) No 557/76, shall be replaced by the
franc shows that it is necessary to revert to the                 following:
representative rate valid for that currency before that               'As from 1 January 1976, the exchange rate to be
date;                                                                 applied in Germany and the Benelux countries to
                                                                      the premiums for the 1975 tobacco harvest shall
Whereas Article 7 of Regulation (EEC) No 557/76                       be that in force before 3 March 1975 .'
provides for a special measure in view of the fact
that the new representative rate may, in certain
circumstances, result in a reduction in terms of the                                      Article 3
national currency of amounts fixed in units of
account; whereas that special measure is no longer               1.      This Regulation shall enter into force on
necessary if the old representative rate is restored;            25 March 1976.
Whereas the Monetary Committee will be consulted;                2. For the application of this Regulation the date
whereas, in view of the urgency of the matter, the               '25 March 1976' shall replace '15 March 1976'
proposed measures should be adopted under the                    referred to in Article 2 (2) (e) of Regulation (EEC)
                                                                 No 557/76.
(^ OJ No 106, 30. 10. 1962, p. 2553/62.
(2) OJ No L 263, 19. 9. 1973, p. 1 .
(3) OJ No L 67, 15 . 3 . 1976, p. 1 .                            (*) OJ No L 72, 20. 3. 1975, p. 37.
 ---pagebreak--- No L 79/2                     Official Journal of the European Communities                       25 . 3 . 76
          This Regulation shall be bidding in its entirety and directly applicable in all Member
          States.
          Done at Brussels, 24 March 1976.
                                                                                 For the Council
                                                                                  The President
                                                                                   G. THORN