CELEX: 31976D0402
Language: en
Date: 1976-04-06 00:00:00
Title: 76/402/EEC: Council Decision of 6 April 1976 on the level of the interest rate subsidy, provided for by Directive 72/159/EEC on the modernization of farms, to be applied in Italy

Avis juridique important

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31976D0402

76/402/EEC: Council Decision of 6 April 1976 on the level of the interest rate subsidy, provided for by Directive 72/159/EEC on the modernization of farms, to be applied in Italy  

Official Journal L 108 , 26/04/1976 P. 0039 - 0040

++++ ( 1 ) OJ N L 96 , 23 . 4 . 1972 , P . 1 .   ( 2 ) OJ N L 128 , 19 . 5 . 1975 , P . 1 .  COUNCIL DECISION  OF 6 APRIL 1976  ON THE LEVEL OF THE INTEREST RATE SUBSIDY , PROVIDED FOR BY DIRECTIVE 72/159/EEC ON THE MODERNIZATION OF FARMS , TO BE APPLIED IN ITALY   ( 76/402/EEC )  THE COUNCIL OF THE EUROPEAN COMMUNITIES ,  HAVING REGARD TO THE TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY ,  HAVING REGARD TO COUNCIL DIRECTIVE 72/159/EEC OF 17 APRIL 1972 ON THE MODERNIZATION OF FARMS ( 1 ) , AND IN PARTICULAR THE SECOND SUBPARAGRAPH OF ARTICLE 8 ( 2 ) AND THE SECOND SUBPARAGRAPH OF ARTICLE 19 ( 1 ) THEREOF ,  HAVING REGARD TO THE PROPOSAL FROM THE COMMISSION ,  WHEREAS THE SECOND SUBPARAGRAPH OF ARTICLE 8 ( 2 ) OF DIRECTIVE 72/159/EEC PROVIDES THAT MEMBER STATES MAY BE AUTHORIZED TO GRANT INTEREST RATE SUBSIDIES EXCEEDING 5 % , IF SUCH ACTION IS WARRANTED BY THE SITUATION OF THE CAPITAL MARKET IN THE MEMBER STATES , AND TO REDUCE TO 2 % THE MINIMUM RATE PAYABLE BY BENEFICIARIES IN CERTAIN REGIONS ;  WHEREAS THE ITALIAN GOVERNMENT HAS REQUESTED AUTHORIZATION TO RAISE THE LEVEL OF THE INTEREST RATE SUBSIDY TO 9 % AND , IN THE MEZZOGIORNO AND THE LESS-FAVOURED REGIONS OF NORTHERN AND CENTRAL ITALY INCLUDING THEIR MOUNTAIN AREAS , TO 11 % ;  WHEREAS THE ITALIAN GOVERNMENT HAS REQUESTED THAT THE MINIMUM RATE PAYABLE BY BENEFICIARIES IN THE MEZZOGIORNO AND IN THE LESS-FAVOURED REGIONS OF NORTHERN AND CENTRAL ITALY BE REDUCED TO 2 * 4 % WITHOUT , HOWEVER , AFFECTING ARTICLE 9 ( 1 ) OF COUNCIL DIRECTIVE 75/268/EEC OF 28 APRIL 1975 ON MOUNTAIN AND HILL FARMING AND FARMING IN CERTAIN LESS-FAVOURED AREAS ( 2 ) ;  WHEREAS THE ITALIAN GOVERNMENT HAS FURTHERMORE REQUESTED THAT THE EXPENDITURE RESULTING FROM THE INCREASE IN THE SUBSIDY BE DECLARED ELIGIBLE FOR ASSISTANCE ;  WHEREAS THE CURRENT RATE OF 13 * 4 % IN ITALY FOR LONG-TERM AGRICULTURAL LOANS AND THE INTEREST RATE SUBSIDIES PROVIDED FOR OF 9 AND 11 % WILL MEAN THAT THE BENEFICIARY IS CALLED UPON TO BEAR A RATE OF INTEREST IN EXCESS OF THE MINIMA LAID DOWN BY DIRECTIVE 72/159/EEC ;  WHEREAS THE ECONOMIC AND AGRICULTURAL DEVELOPMENT OF THE MEZZOGIORNO AND THE LESS-FAVOURED REGIONS OF NORTHERN AND CENTRAL ITALY , INCLUDING THEIR MOUNTAIN AREAS , IS CLEARLY LESS ADVANCED THAN THAT OF THE OTHER REGIONS ;  WHEREAS PARTICIPATION BY THE EUROPEAN AGRICULTURAL GUIDANCE AND GUARANTEE FUND IN THE EXPENDITURE RESULTING FROM THE INCREASE IN THE SUBSIDY IS RECOMMENDED ,  HAS ADOPTED THIS DECISION :  ARTICLE 1  THE ITALIAN REPUBLIC IS HEREBY AUTHORIZED TO INCREASE THE INTEREST RATE SUBSIDY PROVIDED FOR IN THE FIRST SUBPARAGRAPH OF ARTICLE 8 ( 2 ) OF DIRECTIVE 72/159/EEC TO 11 % FOR THE MEZZOGIORNO AND THE LESS-FAVOURED REGIONS OF NORTHERN AND CENTRAL ITALY , INCLUDING THEIR MOUNTAIN AREAS , AND TO 9 % FOR THE OTHER REGIONS .  ARTICLE 2  THE ITALIAN REPUBLIC IS HEREBY AUTHORIZED TO REDUCE THE MINIMUM RATE PAYABLE BY THE BENEFICIARY PROVIDED FOR IN THE FIRST SUBPARAGRAPH OF ARTICLE 8 ( 2 ) OF DIRECTIVE 72/159/EEC TO 2 * 4 % IN THE MEZZOGIORNO AND THE LESS-FAVOURED REGIONS OF NORTHERN AND CENTRAL ITALY .  HOWEVER , THE PROVISIONS REFERRED TO IN THE FIRST SUBPARAGRAPH SHALL NOT AFFECT ARTICLE 9 ( 1 ) OF DIRECTIVE 75/268/EEC .  ARTICLE 3  THE EXPENDITURE INCURRED BY THE ITALIAN REPUBLIC PURSUANT TO ARTICLE 1 OF THIS DECISION SHALL BE ELIGIBLE FOR ASSISTANCE FROM THE GUIDANCE SECTION OF THE EUROPEAN AGRICULTURAL GUIDANCE AND GUARANTEE FUND WITHIN THE LIMIT FIXED BY THE FIRST SUBPARAGRAPH OF ARTICLE 19 ( 3 ) OF DIRECTIVE 72/159/EEC .  ARTICLE 4  THIS DECISION SHALL APPLY UNTIL 31 DECEMBER 1977 .  ARTICLE 5  THIS DECISION IS ADDRESSED TO THE ITALIAN REPUBLIC .  DONE AT LUXEMBOURG , 6 APRIL 1976 .  FOR THE COUNCIL  THE PRESIDENT  J . HAMILIUS