CELEX: 51974PC1443
Language: en
Date: 1974-09-06
Title: Proposal for a Council Decision on the level of the interest rate subsidy referred to in Article 8 (2) of Council Directive No 72/159/EEC of 17 April 1972 (submitted to the Council by the Commission)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (74) 1443
Vol. 1974/0233
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 ---pagebreak--- COMMISSION OF THE EUROPEAN COMMUNITIES
                                   COM(74)1443 final
                                   Brussels , 6 September 1974
                   Proposal for a
   Council Decision on the level of the interest rate
   subsidy referred to in Article 8 (2) of Council
   Directive No 72/159/EEC of 17 April 1972
   ( submitted to the Council by the Commission )
     i -' â3 final
 ---pagebreak---                               - 1 -                      Vl/2^?.8/74-E
 TILE COUNCIL OF THE EUROPEAN" OOf-RiLJi-i'ITII^S,
Having regard to Council Directive No 72/159/EEC ( l ) of 17 April 1972
 on the modernization of farm::, and in particular the first indent
of the second subparagraph of Article 8(2 ) and the second subparagraph
                                        Λ
of Article 19(1 ) thereof ;
 Having regard to the proposal from the Commission ;
 Having regard to the Opinion of the European Parliament ;
Whereas the first indent of the second subparagraph of Article 8(2 )
of the said Directive provides that Member States may be authorized
to grant interest rate subsidies exceeding 5$» if such action is
warranted by the situation of the capital market in the Member States ;
Whereas the current situation of the capital market in the Member
States , and the exceptional burdens this is placing on farmers who
have to modernize their farms , is threatening the modernization of
agriculture which is the aim of the said Directive ; whereas the
granting of interest rate subsidies exceeding. is therefore
justified ;
Whereas under the second subparagraph of Article 19(l ) of the said
Directive any increased expenditure incurrod by Member States as a
result of an increase in the interest rate subsidy may be declared
eligible for assistance from the Guidance Section of the EAGGF ;
HAS ADOPTED THIS DECISION:
                                                               •/.
( l ) O.J. No L 96 , 23 Aprii 1972 , page 1
 ---pagebreak---                               - 2 -
                                                           VI/2528/74-E
                             Article 1
   Member States shall bo authorized to increase to 6%, for the period
   from 1 October 1974 to 31 December 1975 , the interest rate subsidy
  referred to in the first subparagfaph ofN Article 8(2 ) of Counoil
  Directive No 72/159/eEC of 17 April 1972 .
                             Article 2
  Expenditure incurred by Member States pursuant to Article 1 shall
I be eligible for assistance from the Guidance Section of the EAGGF
 under the first subparagraph of Article 19(3 ) of Council Direotive
 No 72/159/EEC of 17 April 1972 .
                            Article 3
 This Decision is addressed to the Member States .
Done at
                                           For the Council