Council Regulation (EC) No 2585/98 of 26 November 1998 on the conclusion of a Protocol setting out the fishing opportunities and financial contribution provided for in the Agreement between the European Economic Community and the Government of the Democratic Republic of Madagascar on fishing off Madagascar for the period from 21 May 1998 to 20 May 2001

COUNCIL REGULATION (EC) No 2585/98 of 26 November 1998 on the conclusion of a Protocol setting out the fishing opportunities and financial contribution provided for in the Agreement between the European Economic Community and the Government of the Democratic Republic of Madagascar on fishing off Madagascar for the period from 21 May 1998 to 20 May 2001
THE COUNCIL OF THE EUROPEAN UNION
,
Having regard to the Treaty establishing the European Community, and in particular Article 43 in conjunction with the first sentence of Article 228(2) and the first subparagraph of Article 228(3) thereof,
Having regard to the proposal from the Commission,
Having regard to the opinion of the European Parliament (1),
Whereas, pursuant to the Agreement between the European Economic Community and the Government of the Democratic Republic of Madagascar on fishing off Madagascar (2) the two Parties conducted negotiations to determine the amendments or additions to be made to the Agreement at the end of the period of application of the preceding Protocol to the Agreement;
Whereas, as a result of these negotiations, a new Protocol setting out the fishing opportunities and financial compensation provided for in the said Agreement for the period from 21 May 1998 to 20 May 2001 was initialled on 5 March 1998;
Whereas it is in the Community's interest to approve the said Protocol;
Whereas the method for allocating the fishing opportunities among the Member States should be defined on the basis of the traditional allocation of fishing opportunities under the fisheries agreement,