CELEX: 51985PC0218
Language: en
Date: 1985-05-20
Title: PROPOSAL FOR A COUNCIL REGULATION (EEC) AMENDING COUNCIL REGULATION (EEC) NO 3181/78 AS REGARDS THE USE OF ECU BY " OTHER HOLDERS "

10. 7. 85                            Official Journal of the European Communities                           No C 171/7
                                                             II
                                                     (Preparatory Acts)
                                               COMMISSION
          Proposal for a Council Regulation amending Council Regulation (EEC) No 3181/78 as regards
                                            the use of ECU by 'other holders'
                                                    COM(85) 218 final
                             (Submitted by the Commission to the Council on 29 May 1985)
                                                      (85/C 171/09)
          THE COUNCIL OF THE EUROPEAN COMMUNITIES,
          Having regard to the Treaty establishing the European Economic Community, and in
          particular Article 235 thereof,
          Having regard to the proposal from the Commission,
          Having regard to the opinion of the European Parliament,
          Having regard to the opinion of the Economic and Social Committee,
          Whereas Council Regulation (EEC) No 3181/78 of 18 December 1978 relating to the
          European monetary system (*) provides for the issue of ECU by the European Monetary
          Cooperation Fund and for their use by the Fund and the monetary authorities of the Member
          States;
          Whereas it is opportune that provision be made for such ECU to be acquired and used by
          holders other than those referred to in Article 2 of Regulation (EEC) No 3181/78,
          HAS ADOPTED THIS REGULATION:
                                                          Article 1
          The following paragraph is added to Article 2 of Regulation (EEC) No 3181/78:
                'The Fund is also empowered to grant to the monetary authorities of non-member
                countries and international monetary institutions the status of "other holders" of ECU as
                referred to in Article 1 and to fix the terms and conditions under which such ECU may be
                acquired, held and used.'
                                                          Article 2
          This Regulation shall enter into force on the third day following its publication in the Official
          Journal of the European Communities.
          This Regulation shall be binding in its entirety and directly applicable in all Member States.
          (') OJ No L 379, 30. 12. 1978, p. 2.