CELEX: 31976R2423
Language: en
Date: 1976-10-05 00:00:00
Title: Council Regulation (EEC) No 2423/76 of 5 October 1976 amending Regulation (EEC) No 557/76 as regards the exchange rate to be applied in agriculture for the Irish pound

6 . 10 . 76                            Official Journal of the European Communities                          No L 274/ 1
                                                               I
                                            (Acts whose publication is obligatory)
                                      COUNCIL REGULATION (EEC) No 2423/76
                                                     of 5 October 1976
               amending Regulation (EEC) No 557/76 as regards the exchange rate to be
                                       applied in agriculture (or the Irish pound
THE COUNCIL OF THE EUROPEAN                                       HAS ADOPTED THIS REGULATION :
COMMUNITIES,
                                                                                          Article 1
                                                                                          I
Having regard to the Treaty establishing the European
Economic Community,                                               1 . In Article 2 ( 1 ) of Regulation (EEC) No 557/76,
                                                                  point (e) is replaced by the following :
                                                                      '(e) for the Irish pound :
Having regard to Council Regulation No 129 on the
value of the unit of account and the exchange rates to                     £1 Irish = 1-56778 units of account
be applied for the purposes of the common agricul­
tural policy ('), as last amended by Regulation (EEC)             2. However, for the purposes of calculating, firstly,
 No 2543/73 (2), and in particular Article 3 thereof,             monetary compensatory amounts applicable from 4 to
                                                                  10 October 1976, and secondly, factors employed
                                                                  during the same period for determining differential
 Having regard to the proposal from the Commission,               amounts applicable to colza and rape seed, the opera­
                                                                  tive representative rate shall be the following :
                                                                  £1 Irish = 1-65547 units of account.
Whereas Council Regulation (EEC) No 557/76 of 15
March 1976 on the exchange rates to be applied in
 agriculture and repealing Regulation (EEC) No                                            Article 2
 475/75 (3), as last amended by Regulation (EEC) No
 1451 /76 (4), fixed a representative rate for the Irish          The following paragraph is added to Article 2 of Regu-.
 pound ; whereas the movement of this currency indi­              lation (EEC) No 557/76 :
 cates the advisability of fixing a new representative
 rate which reflects more closely the real economic situ­             '4. The representative rate of the Irish pound as
 ation ; whereas this rate should be applied in principle             fixed by Regulation (EEC) No 2423/76 shall
 as from the dates on which prices change ;                           apply :
                                                                      (a) from the dates shown in (b) and (c) of para­
Whereas      measures    should   be    taken   to ensure  a               graph 2 for the products mentioned therein ;
smooth transition to this rate ;                                      (b) from the beginning of the 1976/77 marketing
                                                                           year for the other products for which the
                                                                           marketing year has not commenced by 1 1
Whereas the Monetary Committee will be consulted ;                         October 1976 ;
whereas, in view of the urgency of the matter, the                    (c) from 11 October 1976 in all other cases.'.
 proposed measures should be adopted under the
conditions laid down in Article 3 (2), of Regulation
 No 129 ,                                                                                 Article 3
(') OJ No 106, 30. 10. 1962, p. 2553/62.                          This Regulation shall enter into force on the day of its
(2) OJ No L 263, 19. 9 . 1973, p. 1 .
(3) OJ No L 67, 15 . 3 . 1976, p. 1 .                             publication in the Official Journal of the European
b) OJ No I 163, 24. 6. 1976, p. 5.                                Communities.
 ---pagebreak--- No L 274/2                    Official Journal of the European Communities                        6. 10. 76
           This Regulation shall be binding in its entirety and directly applicable in all Member
           States .
           Done at Luxembourg, 5 October 1976.
                                                                     For the Council
                                                                       The President
                                                               A. P. L. M. M. van der STEE