CELEX: 51979PC0416
Language: en
Date: 1979-07-17
Title: DRAFT DECISION OF THE ACP-EEC COUNCIL OF MINISTERS ON THE ADVANCE USE OF A PORTION OF THE 1979 INSTALMENT OF THE RESOURCES ALLOCATED TO THE SYSTEM FOR THE STABILIZATION OF EXPORT EARNINGS SET UP UNDER THE LOME CONVENTION (presented by the Commission to the Council)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (79) 416
Vol. 1979/0149
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 ---pagebreak--- COMMISSION OF THE EUROPEAN COMMUNITIES
                                     COM ( 79 ) 416 final
                                     Brussels . 17th July 1979
                 DRAFT DECISION OF THE ACP-EEC COUNCIL OF MINISTERS
        ON THE ADVANCE USE OF A PORTION OF THE 1979 INSTALMENT OF
                        . O  .  '-"A
       THE RESOURCES ALLOCATED TO THE SYSTEM FOR THE STABILIZATION
            OF EXPORT EARNINGS SET UP UNDER THE LOME CONVENTION
                                : ν/
               ( presented by the Commission to the Council )
 COM ( 79 ) 416 final
 ---pagebreak---                                    DRAFT   . DECISION
                      OF THE ACP-EEC COUNCIL OF MINISTERS
on the advance use of a portion of the 1979 instalment of the resources
allocated to the system for the stabilization of export earnings set up
under the Lom6 Convention .
THE ACP-EEC COUNCIL OF MINISTERS -
Having regard to Articte 18 ( 2 ) of the LomS Convention ,
Whereas , in view of the amount of the resources available for transfers
under the system for the stabilization of export earnings , it will not
be possible to remain within the limit of the annual instalment for 1978;
whereas the Council of Ministers should therefore authorize the advance
use of a portion of the 1979 instalment ;     , ■ ■
Whereas such advance use may not exceed 15 million EUA , which represents
20 % of the instalment for 1979 .
HAS DECIDED AS FOLLOWS i
                                Article 1
      For the purpose of effecting transfers under the system for the sta­
bilization of export earnings in respect of the 1978 financial year , the
advance use of the funds necessary to that end , up to the limit of ,
15 million EUA , representing 20 % of the 1979 instalment ,. is hereby autho­
rized .    1                            V
                                Article 2 ..
     The Commission is hereby authorized to take transfer decisions in ,
respect of the 1978 financia . year up to the amount stipulated in Article 1
                          Done at Brussels , on
                         For the ACP -EEC i Council of Ministers
 ---pagebreak---                                         \
EXPLANATORY MEMORANDUM
1 . The Commission responsible for administering the system for the stabili­
    zation of export earnings calculates that transfers to be made in 1979
    to compensate for losses recorded by certain ACP States in 1978 will
    exceed the available funds .
    Therefore , in accordance with Article 18 ( 2 ) of the Lom6 Convention ,
    it is necessary to ask the ACP-EEC Council of Ministers , the only body
    competent to deal with this matter , to authorize the advance use of a
    maximum of 20 % of the 1979 instalment of the export earnings stabili­
    zation system .
2 . To date , out of a total 153.6 million EUA ( the 76 . million EUA of the
    1978 instalment plus 77 million EUA left over from previous years ),
    118.5 million EUA has been transferred . To meet the applications lodged
    by a number of countries , it is likely that a further 50 million EUA
    will have to be transferred .
    In order to ensure that the system is properly administered , it would
    appear essential , in the light of these forecasts , to seek authorization
    to use the 1979 instalment in advance , up to the 20 X maximum laid down
    in Article 18 ( 2 ) amounting to 15 million EUA .
3 . Consequently, the Commission transmits to the Council a decision proposal
    of the ACP-EEC Council of Ministers in annex to the present document .