CELEX: 31975R1925
Language: en
Date: 1975-07-25 00:00:00
Title: Regulation (EEC) No 1925/75 of the Council of 25 July 1975 on the rates of exchange to be applied in agriculture for the Irish pound and the pound sterling

26 . 7 . 75                                Official Journal of the European Communities                            No L 195/35
                                   REGULATION (EEC) No 1925/75 OF THE COUNCIL
                                                            of 25 July 1975
                on the rates of exchange to be applied in agriculture for the Irish pound and the
                                                            pound sterling
 THE COUNCIL OF THE EUROPEAN                                          Whereas the Monetary Committee will be consulted
 COMMUNITIES,                                                         on the fixing of the new representative rates and
                                                                      whereas, in view of the urgency of the matter, the
 Having regard to the Treaty establishing the European                 measures should be adopted in accordance with the
 Economic Community ;                                                 conditions laid down in Article 3 (2) of Regulation No
                                                                       129 ,
 Having regard to Council Regulation No 1 29 (') on
 the value of the unit of account and the exchange
 rates to be applied for the purposes of the common                    HAS ADOPTED THIS REGULATION :
 agricultural policy, as last amended by Regulation
 (EEC) No 2543/73 (2), and in particular Article 3                                                  Article 1
 thereof ;
                                                                       In Article 1 (2) of Regulation (EEC) No 475/75, the
 Having regard to the proposal from the Commission ;                   representative rates referred to in (e) and (h) are
                                                                       replaced by the following rates :
 Whereas Council Regulation (EEC) No 475/75 (3) of                    '(e) for the Irish pound :
 27 February 1975 on the exchange rates to be applied                         £ 1 Irish = 1-76843 units of account,
 in agriculture fixed , for the currencies of the Member
 States, representative exchange rates to be used in agri­              (h) for the pound sterling :
 culture ;                                                                    £ 1 sterling = 1 -86369 units of account.'
 Whereas     those    rates were        fixed with    the aim  of                                   Article 2
 adapting them as closely as possible to the real
                                                                      The provisions of Regulation (EEC) No 1134/68
 economic situation ; whereas that aim is no longer
                                                                       relating to the alteration of the relationship between
 achieved as regards the UK and Irish currencies ;
 whereas there has subsequently been considerable                      the parity of the currency of a Member State and the
 depreciation in the conversion rates actually recorded               value of the unit of account shall apply in respect of
 for both those currencies on the exchange markets ;                   the change in the representative rate for the Irish
                                                                       pound and the pound sterling.
 Whereas it is in the interests of the Community to
 revert to a single price system ; whereas that aim may                                             Article 3
 more easily be attained by fixing, for each of the                    1 . This Regulation shall enter into force on the day
 currencies in question , a new representative rate
 which     is closer to the real economic situation ;
                                                                      of its publication in the Official Journal of the Euro­
                                                                      pean Communities.
 whereas, in applying those rates, the particular diffi­
 culties which may arise in certain sectors should be                  2. The new representative rates shall take effect
 taken into account ;                                                  from 4 August 1975, on the understanding that
                                                                      Article 2 of Regulation (EEC) No 475/75 shall remain
 Whereas the problems presented by the alteration of                  applicable for the products for which the 1975/76
 the relationship between the unit of account and a                    marketing year has not yet begun on that date .
 national currency have resulted in the adoption of
                                                                       However :
 regulations in that sphere, and in particular Council
 Regulation (EEC) No 11 34/68 (4) of 30 July 1968                     — in respect of the supplementary national premium
 laying down rules for the implementation of Regula­                        granted under Article 1 (2) of Council Regulation
 tion ( EEC) No 653/68 on conditions for alterations to                     ( EEC) No 464/75 (5 ) of 27 February 1975 esta­
 the value of the unit of account used for the common
                                                                            blishing systems of premiums for producers of
 agricultural policy ; whereas those provisions refer                       bovine animals, the new representative rates shall
 only to alterations in the parity of a currency ; whereas                  take effect from 1 January 1976 ;
 the application of those provisions is also justified in             — in respect of the amount of the premium referred
the present case of a change in the representative                          to in Article 1 ( 1 ), second subparagraph, of Regula­
 rate ;
                                                                            tion ( EEC) No 464/75, the representative rates for
                                                                            the period of application of this Regulation shall
(')  OJ   No 106, 30 . 10 . 1962, p . 2553/62 .
(2 ) OJ   No L 263 , 19 . 9 . 1973 , p. 1 .                                 be those valid before 4 August 1975.
(3)  OJ   No L 52, 28 . 2. 1975, p . 28 .
(■») OJ   No L 188 , 1 . 8 . 1968 , p . 1 .                           (5 ) OJ No L 52, 28 . 2 . 1975, p. 5 .
 ---pagebreak--- L 195/ 36                  Official Journal of the European Communities                        26 . 7 . 75
        This Regulation shall be binding in its entirety and directly applicable in all Member
        States .
        Done at Brussels, 25 July 1975 .
                                                                 For the Council
                                                                   The President
                                                                   G. MARCORA