Council Directive 63/474/EEC of 30 July 1963 liberalising transfers in respect of invisible transactions not connected with the movement of goods, services, capital or persons

COUNCIL DIRECTIVE  of 30 July 1963  liberalising transfers in respect of invisible transactions not connected with the movement of goods, services, capital or persons  (63/474/EEC)
THE COUNCIL OF THE EUROPEAN ECONOMIC COMMUNITY
,
Having regard to the Treaty establishing the European Economic Community, and in particular Articles 63 and 106 (3) thereof;
Having regard to the proposal from the Commission;
Having regard to the Opinion of the European Parliament (1);
Having regard to the Opinion of the Economic and Social Committee;
Whereal the establishment of the common market requires that restrictions on transfers between residents of Member States should be abolished as quickly and as widely as possible;
Whereas in respect of transfers relating to the invisible transactions set out in Annex III to the Treaty which are not governed by the provisions of Article 106 (1) and (2) or by the Chapter on freedom of movement of capital, a very high level of liberalisation has already been achieved in Member States;
Whereas, on these grounds and taking into account the economic situation of Member States, the liberalisation of transfers relating to all the relevant transactions in the form of a general permission or at least of the issue of any foreign exchange authorisations that may be required already appears possible at the present stage of the transitional period;