CELEX: 51975PC0171
Language: en
Date: 1975-04-22
Title: Draft amendments forwarded by the Commission following the consultation on the draft revision of the Treaty establishing the European Economic Community the object of which is to amend the Statute of the European Investment Bank (submitted to the Council by the Commission)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (75) 171
Vol. 1975/0066
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In accordance with Council Regulation (EEC, Euratom) No 354/83 of 1 February 1983
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Community and the European Atomic Energy Community (OJ L 43, 15.2.1983, p. 1), as
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In Übereinstimmung mit der Verordnung (EWG, Euratom) Nr. 354/83 des Rates vom 1.
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     COMMISSION OF THE EUROPEAN COMMUNITIES
                                                         COM(75)171 final.
                                              Brussels . 22 april 1975
  Draft amendments forwarded by the Commission following the consultation on
  the draft revision of the Treaty establishing the European Economic Community
  the object of which is to amend the Statute of the European Investment Bank
                     ( submitted to the Council by the Commission )
                                .1
   COM ( 75 ) 171 final .
 ---pagebreak---          AMEX I                                                 11/253/75-E
                                                                Orig . t F
    Draft amendments forwarded by the Commission following the consultation on
    the draft revision of the Treaty establishing the European Economic Community ,
    the object of which is to amend the Statute of the European Investment Bank
1 . Draft amendments to the text of the Preamble
    - considering that the definition of the unit of account and the methods
      for converting this unit and the currencies of Member States according
      to the provisions of article 4 » paragraph 1 , second section , and. of
      article 7 , paragraph 3 and- 4 of the Statute of the Bank in their present
      form are no longer entirely in keeping with the circumstances of interna­
      tional monetary relations ;
    - considering that the future evolution of the international and Community
      monetary system cannot be foreseen and that consequently rather than
      laying dovn immediately a new definition of the unit of account in the
      Statute of the Bank , it is desirable to give the Bank the means to adapt
      itself to changes where necessary , following the appropriate procedures
      and timetables ;
    - considering that , in order to provide the opportunity for a rapid and
      flexible adaptation it would be appropriate to give the Governos of the
      Bank powers to modify , if necessary , the definition of the unit of account
      and the methods for converting the unit of account and the various curren­
      cies ;
    - considering that Community measures in the monetary field are formulated on
      proposals from the Commission , the Monetary Committee having been consulted,
      and that therefore the mutual consistency of decisions to be taken will be
      better ensured if the new procedure for adjusting the Bank 's unit of account
      also involves the Commission and the Monetary Committee ;
 ---pagebreak---                                                               11/253/75-E
   ANNEX II                                                   Orig. i P
Draft amendments to the enaoting terms
Article 4 . paragraph 1 . subparagraph 2
Add the sentence :
"The Board of Governors , acting unanimously on a proposal from the Board of
 Directors , and after receiving Opinions from the Commission and from the
 Monetary Committee , may alter the definition of the unit of account ".
Article 7 . paragraph 4
Add the sentence :
"Furthermore it may, deciding unanimously on a proposal from the Board of
 Directors , and after receiving Opinions from the Commission and from the
 Monetary Committee , alter the method of converting sums expressed in units
 of acoount into national currencies and vice versa"*
Article 9 » paragraph 3 . ( g)
Write into Article 4 :
"The Board of Governors shall • •••••••• exercise the powers and funotions
 provided for in Articles 4t 7 » 14 . 17 . 26 and 27 ."