CELEX: 31995R1161
Language: en
Date: 1995-05-22 00:00:00
Title: Council Regulation (EC) No 1161/95 of 22 May 1995 amending the number of further reference periods in the context of the agri-monetary system

Avis juridique important

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31995R1161

Council Regulation (EC) No 1161/95 of 22 May 1995 amending the number of further reference periods in the context of the agri-monetary system  

Official Journal L 117 , 24/05/1995 P. 0001 - 0001

COUNCIL REGULATION (EC) No  1161/95 of 22 May 1995 amending the number of further reference periods in the context of the  agri-monetary systemTHE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, Having regard to the proposal from the Commission, Having regard to Council Regulation (EEC) No 3813/92 of 28 December 1992 on the unit of account and  the conversion rates to be applied for the purposes of the common agricultural policy  (1), and in  particular Article 9 thereof, Whereas Article 4 (5) of Regulation (EEC) No 3813/92 provides that where a foreseeable change in  the agricultural conversion rate would result in an appreciable fall for a currency, that change  shall be suspended for the currency in question for a certain period during which the monetary  trend must be confirmed before the change can take place; Whereas the current monetary trend has resulted in a situation in which the aforementioned  conditions have been fulfilled, in particular for the Belgian and Luxembourg franc; whereas a  similar problem may arise shortly for other Community currencies; whereas, however, the trend does  not seem to be certain; whereas, accordingly, it would appear appropriate, exceptionally and in  view of the potential budgetary impact, in the case of the currencies concerned, to increase the  number of reference periods constituting the period of suspension, HAS ADOPTED THIS REGULATION: Article 1 Where the application of Article 4 of Regulation (EEC) No 3813/92  would lead to a fall in the agricultural conversion rate for a currency before 26 May 1995, the  change in the agricultural conversion rate in question shall be suspended for the following  reference period. Article 2 This Regulation shall enter into force on the day following its publication in the  Official Journal of the European Communities. This Regulation shall be binding in its entirety and directly applicable in all  Member States. Done at Brussels, 22 May 1995. For the Council The President A. MADELIN