CELEX: 31974R2670
Language: en
Date: 1974-10-21 00:00:00
Title: Regulation (EEC) No 2670/74 of the Council of 21 October 1974 amending Regulation (EEC) No 2958/73 on the exchange rate applied in agriculture for the Italian lira

23 . 10 . 74                               Official Journal of the European Communities                           No L 286/ 1
                                                                   I
                                                 (Acts whose publication is obligatory)
                                  REGULATION (EEC) No 2670 / 74 OF THE COUNCIL
                                                         of 21 October 1974
               amending Regulation (EEC) No 2958 /73 on the exchange rate applied in agricul­
                                                       ture for the Italian lira
THE COUNCIL OF THE EUROPEAN                                            tural products in Italy ; whereas this result is
COMMUNITIES,                                                           consistent with the basic principle of uniformity of
Having regard to the Treaty establishing the European                  prices in the Community ; whereas this principle and
Economic Community ;                                                   its consequences have led to appropriate provisions
                                                                       being adopted ; in particular in Council Regulation
Having regard to Council Regulation No 1 29 (') on                     (EEC) No 1 1 34/68 (5 ) of 30 July 1968 laying down
the value of the unit of account and the exchange                      rules for the implementation of Regulation ( EEC) No
rates to be applied for the purposes of the common                     653 / 68 on conditions for alterations to the value of
agricultural policy, as last amended by Regulation                     the unit of account used for the common agricultural
(EEC) No 2543/73 (2 ), and in particular Article 3                     policy ; whereas these provisions cover only the case
thereof ;                                                              of a change in the parity of a currency ; whereas they
Having regard to the proposal from the Commission ;                    should also be applied in this case ; whereas the new
                                                                       representative rate should therefore be included in
Whereas Article 1 of Council Regulation ( EEC) No                      Regulation ( EEC) No 2958 / 73 , the other provisions of
2958 /73 (3 ) of 31 October 1973 on the exchange rates                 which remain in force ,
applied in agriculture for the Italian lira, as last
amended by Regulation ( EEC) No 1 847/74 (4 ),
provided for the application of a representative rate                   HAS ADOPTED THIS REGULATION :
for the Italian lira ;
Whereas the economic situation in Italy necessitates                                              Article 1
taking another step forwards uniformity of agricultural                The following is added to Article 1 (2) of Regulation
prices in the Community by fixing another more                         ( EEC) No 2958 /73 :
realistic representative rate ;
                                                                            '(e) with effect from 28- October 1 974 :
Whereas the Monetary Committee will be consulted                                 100 Italian lira = 0-1 20048 unit of account '.
and whereas, in view of the urgency of the matter, the
 measures envisaged should be adopted under the
                                                                                                  Article 2
conditions laid down in Article 3 (2) of Regulation No
  129 ;
                                                                       This Regulation shall enter into force on the day of its
Whereas the fixing of such a representative rate would                  publication in the Official Journal of the European
 lead to an adjustment in the level of prices for agricul­              Communities.
               This Regulation shall be binding in its entirety and directly applicable in all Member
               States .
                Done at Luxembourg, 21 October 1974.
                                                                                     Eor the Council
                                                                                      The President
                                                                                      CH . BONNET
 (') O ) No 106 , 30 . 10 . 1962 , p. 2SS.V62 .
(-') O'l No L 263 , 19 . 9 . 1973 , p. I.
 (■') Of No L 303 , I. 1 I. 1973 , p. 1 .
 (4 ) 0"| No L 1 9 S, IS . 7 . 1974, p. I.                              (*) OJ No L 1 88 , I. 8 . 1968 , p. I.