CELEX: 51976PC0616
Language: en
Date: 1976-11-16
Title: AMENDMENTS TO PROPOSAL FOR A COUNCIL REGULATION (EEC) relating to the fixing of representative exchange rates in the agricultural sector. Amendments to COM(76)590 final 1) insert page 3 b attached 2) the first two lines on page 4 are deleted

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (76) 616
Vol. 1976/0188
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 ---pagebreak---          COMMISSION OF THE EUROPEAN COMMUNITIES
                                                                COM(76)616 Final
                                                                Brussels , 30 November 1976
                               AMMENDMENTS TO
                            PROPOSAL FOR A COUNCIL REGULATION (EEC )
                 relating to the fixing of representative exchange rates in the
                                    agricultural sector .
                           Amendments to COM(76)590 final
          l ) insert page 3 ^ attached
           2 ) the first two lines on page 4 are deleted
                                                                                    /
COM ( 76 ) 616 Final
 ---pagebreak---                                - 3b-
The 1 January of the second year preceding th-;t in which the ro'Hfyinp
decision was taken .
3.    The adjusted, representative rate shall be equal
      (a) in respect of currencies which are maintained within a maximum
           spot margin of 2.25$:
           to the weighted average of the exchange rates for the currency in
           question during the reference period in relation to the European
           monetary unit of account ;
      (b ) in respect of currencies other than those referred to under (a ):
           to the arithmetic average of the exchange rates for th : currency
           in question in relation to the European monetary unit of account
           and resulting from the average rates taken into account each week
           during the reference " period for the calculation of monetary
           compensatory amounts . -
4 . * However ,
      (a) for Member States whose currency has depreciated, the adjustment
           pursuant to this Article shall be effected only if the new
           representative rate differs by a percentage to be determined, from
           the old representative rate and from the exchange rate in relation
           to the European monetary unit of account resulting from the average
           rates taken into account , at the time when the new representative
           rate was fixed , for the calculation of the monetary compensatory
           amounts ;
      (b ) if the adjustment in accordance with this Article would result in the
           fixing of a new representative rate involving the introduction or the
           increase of monetary compensatory amounts , the new rcpresentat : vc
           rate to be adopted shall be the average rate taken into account at
           the most recent fixing of the monetary compensatory amounts , less
           the percentage referred to under (a) in the case of depreciated
           currencies and expressed in relation to the European monetary unit
           of account .