CELEX: 31977R2840
Language: en
Date: 1977-12-19 00:00:00
Title: Council Regulation (EEC) No 2840/77 of 19 December 1977 amending Regulation (EEC) No 878/77 as regards the exchange rate for the French franc to be applied in agriculture

21 . 12. 77                                 Official Journal of the European Communities                          No L 328/ 1
                                                                     i
                                                  (Acts whose publication is obligatory)
                                           COUNCIL REGULATION (EEC) No 2840/77
                                                          of 19 December 1977
                 amending Regulation (EEC) No 878 /77 as regards the exchange rate for the
                                              French franc to be applied in agriculture
 THE COUNCIL OF THE EUROPEAN                                            HAS ADOPTED THIS REGULATION :
 COMMUNITIES,
 Having regard to the Treaty establishing the European                                           Article /
 Economic Community,
                                                                        In Article 2 ( 1 ) of Regulation (EEC) No 878 /77, sub­
 Having regard to Council Regulation No 129 on the                      paragraph (d) is hereby amended to read as follows :
 value of the unit of account and the exchange rates to
 be applied for the purposes of the common agricul­                        '(d) for the French franc :
 tural policy ('), as last amended by Regulation (EEC)                           one French      franc   =  0-168670   unit  of
 No 2543 /73 (2 ), and in particular Article 3 thereof,                          account'.
 Having regard to the proposal from the Commission ,
                                                                                                Article 2
 Whereas Council Regulation ( EEC) No 878 /77 of 26
April 1977 on the exchange rates to be applied in agri­
 culture (3), as last amended by Regulation (EEC) No                    The following paragraph is hereby added to Article 2
 2024/77 (4), fixed a representative rate for the French                of Regulation ( EEC) No 878 /77 :
 franc ; whereas the fluctuations of that currency make                     '4.   The representative rate for the French franc
 it appropriate that a new representative rate should be                    fixed by Regulation (EEC) No 2840/77 shall apply
 fixed be fixed at a level closer to present economic                       with effect from 1 February 1978 '.
 reality ; whereas that rate should be applied with effect
 from 1 February 1978 ;
                                                                                                 Article J
 Whereas     the Monetary Committee will be consulted ;
 whereas,    in view of the urgency of the matter, the                  This Regulation shall enter into force on the day of its
 measures     envisaged should be adopted in the manner                 publication in the Official Journal of the European
 specified   in Article 3 (2) of Regulation No 129 ,                    Communities.
                This Regulation shall be binding in its entirety and directly applicable in all Member
                States .
                 Done at Brussels , 19 December 1977 .
                                                                                    For the Council
                                                                                     The President
                                                                                      H. SIMONET
(')  OJ No    106, 30 . 10 . 1962, p . 2553 /62 .
(')  OJ No    L 263 , 19 . 9 . 1973 . p. 1 .
(-') OJ No    L 106 , 29 . 4 . 1977, p. 27 .
(4)  OJ No    L 235 , 14 . 9 . 1977, p. I.