CELEX: 31975R2638
Language: en
Date: 1975-10-16 00:00:00
Title: Regulation (EEC) No 2638/75 of the Council of 16 October 1975 amending Regulation (EEC) No 475/75 with regard to the rate of exchange to be applied in agriculture for the Irish pound and the pound sterling

18 . 10 . 75                            Official Journal of the European Communities                           No L 269/ 1
                                                                I
                                             (Acts whose publication is obligatory)
                                REGULATION (EEC) No 2638/75 OF THE COUNCIL
                                                      of 16 October 1975
               amending Regulation (EEC) No 475/75 with regard to the rate of exchange to be
                       applied in agriculture for the Irish pound and the pound sterling
THE COUNCIL OF THE EUROPEAN                                        laying down rules for the implementation of Regula­
COMMUNITIES,                                                       tion (EEC) No 653/68 on conditions for alterations to
                                                                   the value of the unit of account used for the common
Having regard to the Treaty establishing the European              agricultural policy ; whereas those provisions refer
Economic Community ;                                               only to alterations in the parity of a currency ; whereas
                                                                   the application of those provisions is also justified in
                                                                   the present case of a change in the representative
Having regard to Council Regulation No 129 ( l) on                 rate ;
the value of the unit of account and the exchange
rates to be applied for the purposes of the common
agricultural policy, as last amended by Regulation                 Whereas the Monetary Committee will be consulted
(EEC) No 2543/73 (2), and in particular Article 3                  on the fixing of the new representative rates ; whereas,
thereof ;                                                          in view of the urgency of the matter, the measures
                                                                   should be adopted in accordance with the conditions
                                                                   laid down in Article 3(2) of Regulation No 129,
Having regard to the proposal from the Commission ;
Whereas Council Regulation (EEC) No 475/75 (3) of
27 February 1975 on the exchange rates to be applied
                                                                   HAS ADOPTED THIS REGULATION :
in agriculture, as amended by Regulation (EEC) No
1 925/75 (4), fixed, for the currencies of the Member
States, and in particular for the Irish pound and the
pound sterling, the representative exchange rate to be
                                                                                           Article 1
used in agriculture ;
Whereas it is in the interests of the Community to                 In Article 1 (2) of Regulation (EEC) No 475/75, the
revert to using a price system ; whereas that aim may              representative rates referred to in (e) and (h) shall be
more easily be attained by fixing, for each of the                 replaced by the following rates :
currencies in question, a new representative rate
which is closer to the real economic situation ;                   (e) for the Irish pound : £ 1 Irish = 1-72914 units of
whereas, in applying those rates, any particular diffi­                account ;
culties which may arise in certain sectors should be               (h) for the pound sterling : £ 1 sterling = 1-75560
taken into account ;                                                   units of account.
Whereas the problems presented by the alteration of
the relationship between the unit of account and a
                                                                                            Article 2
national currency have resulted in the adoption of
Regulations in that sphere, and in particular Council
Regulation (EEC) No 1134/68(5) of 30 July 1968                     The provisions of Regulation (EEC) No 1134/68
                                                                   relating to the alteration of the relationship between
(•) OJ   No  106, 30. 10. 1962, p. 2553/62.                        the parity of the currency of a Member State and the
(2) OJ  No  L 263, 19. 9. 1973, p. 1 .
(3) OJ  No  L 52, 28 . 2. 1975, p. 28 .                            value of the unit of account shall apply in respect of
(4) OJ  No  L 195, 26. 7. 1975, p. 35.                             the change in the representative rate for the Irish
(5) OJ  No  L 188, 1 . 8 . 1968, p. 1 .                            pound and the pound sterling.
 ---pagebreak--- No L 269/2                         Official Journal of the European Communities                            18 . 10 . 75
                        Article 3                                 1975, except for the amounts referred to in the
                                                                  second indent,
1 . This Regulation shall enter into force on the day        — in respect of the amounts fixed in units of account
of its publication in the Official Journal of the Euro­
                                                                  referring to common wheat, the neiv representa­
pean Communities.
                                                                  tive rates shall take effect from 1 July 1976,
2. The new representative rates shall take effect            — in respect of beef and veal, the new representative
from 27 October 1975, Article 2 of Regulation (EEC)               rates shall take effect from 5 January 1976, except
No 475/75 to remain applicable for the products for               for the amount referred to in the following indent,
which the 1975/76 marketing year has not yet begun           — in respect of the amount of the premium referred
on that date or for which the prices for 1975/76 are              to in Article 1 ( 1 ), second subparagraph, of
not yet applicable on that date.                                  Council Regulation (EEC) No 464/75 ( !) of 27
However :
                                                                  February 1975 establishing systems of premiums
                                                                  for producers of bovine animals, the representative
— in respect of the cereals sector, the new represen­             rates for the period of application of this Regula­
    tative rates shall take effect from 3 November                tion shall be those valid before 4 August 1975.
              This Regulation shall be binding in its entirety and directly applicable in all Member
              States.
              Done at Luxembourg, 16 October 1975.
                                                                           For the Council
                                                                            The President
                                                                              M. PEDINI
                                                             (') OJ No L 52, 28 . 2. 1975, p. 5.