CELEX: 31974R0197
Language: en
Date: 1974-01-25
Title: Regulation (EEC) No 197/74 of the Council of 25 January 1974 amending in particular Regulation (EEC) No 2958/73 on the exchange rate applied in agriculture for the Italian lira

No L 22/2                                Official Journal of the European Communities                                   26 . 1 . 74
                                 REGULATION (EEC) No 197/74 OF THE COUNCIL
                                                       of 25 January 1974
              amending in particular Regulation ( EEC) No 2958 /73 on the exchange rate
                                          applied in agriculture for the Italian lira
THE COUNCIL OF THE EUROPEAN                                         Whereas Article 4b of Council Regulation (EEC) No
COMMUNITIES,                                                        974/71 (6) of 12 May 1971 on certain measures of
                                                                    conjunctural policy to be taken in agriculture
Having regard to the Treaty establishing the European               following the temporary widening of the margins of
Economic Community, and in particular Article 103                   fluctuation    for the   currencies     of  certain  Member
thereof ;
                                                                    States, as last amended by Regulation (EEC) No
Having regard to Council Regulation No 129 (') on                   3450/73 (7), provided that in principle the intervention
the value of the unit of account and the exchange                   and purchase prices applicable in Italy shall be fixed,
rates to be applied for the purposes of the common                  until the end of the 1973/74 marketing year, at the
agricultural policy, as last amended by Regulation                  level resulting from the application of the provisions
(EEC) No 2543/73 (2), and in particular Article 3                   in force on 31 December 1973 , expressed in Italian
thereof ;                                                           lira ;
Having regard to the proposal from the Commission ;                 Whereas in view of the repercussions which the situa­
                                                                    tion on the beef and veal market in Italy is already
Whereas Article 1 of Council Regulation (EEC) No                    having on the level of production and which it may
2958 /73 (3) of 31 October 1973 on the exchange rates               therefore have on the general balance of the economy
applied in agriculture for the Italian lira, as amended             it is necessary that this new representative rate be
by Regulation (EEC) No 2996/73 (4), provided for the                applied immediately in the beef and veal sector ;
application of representative rates for the Italian lira            whereas the basis for determining the incidence of the
with effect from 1 November 1973 and 1 January
                                                                    present Regulation should be the price level currently
 1974 ;
                                                                    applicable in Italy,
Whereas the economic situation in Italy necessitates
taking another step towards uniformity of agricultural
prices in the Community by fixing another more                      HAS ADOPTED THIS REGULATION :
realistic representative rate ;
Whereas the Monetary Committee will be consulted
                                                                                              Article 1
and whereas, in view of the urgency of the matter, the
measures envisaged should be adopted under the
conditions laid down in Article 3 (2) of Regulation No              The following is added to Article 1 (2) of Regulation
 129 ;                                                              (EEC) No 2958/73 :
Whereas the fixing of such a representative rate would                   '(c) with effect from 28 January 1974 10.0 Italian
                                                                              lira = 0-140449 unit of account '
lead to an adjustment in the level of prices for agricul­
tural products in Italy ; whereas this result is
consistent with the basic principle of uniformity of
                                                                                              Article 2
prices in the Community ; whereas it was on the basis
of this principle and its consequences that specific
provisions were laid down , in particular in Council                 1 . With effect from 28 January 1974 the interven­
Regulation (EEC) No 11 34/68 (5) of 30 July 1968                    tion price for beef and veal in Italy shall be increased
laying down rules for the implementation of Regula­                 by 5 % .
tion (EEC) No 653/68 on conditions for alterations to
the value of the unit of account used for the common                2.      Article 4b of Regulation ( EEC) No 974/71 shall
agricultural policy ; whereas these provisions cover                be applicable in this sector, taking into account the
only the case of a change in the parity of a currency ;             provisions of paragraph 1 . ■
whereas they should also be applied in this case ;
whereas the new representative rate should therefore                                           Article 3
be included in Regulation (EEC) No 2958 /73, the
other provisions of which remain unchanged ;                        This Regulation shall enter into force on the day of its
                                                                    publication in the Official Journal of the European
(!) OJ  No  106, 30 . 10 . 1962, p. 2553/62.                         Com munities.
(2) OJ  No  L 263, 19 . 9 . 1973, p. 1 .
(3) OJ  No  L 303, 1 . 11 . 1973, p. 1 .
(4) OJ  No  L 305, 1 . 11 . 1973, p. 7.                             (fe) OJ No L 106, 12. 5 . 1971 , p. 1 .
(5) OJ  No  L 188 , 1 . 8 . 1968, p. 1 .                            ( 7) OJ No L 353 , 22 . 12 . 1973 , p. 25 .
 ---pagebreak--- 26 . 1 . 74                    Official Journal of the European Communities                        No L 22/3
            This Regulation shall be binding in its entirety and directly applicable in all Member
            States .
            Done at Brussels, 25 January 1974.
                                                                     For the Council
                                                                       The President
                                                                          J. ERTL