Council Regulation (EEC) No 929/79 of 8 May 1979 amending Regulation (EEC) No 729/70 concerning the amount allotted to the Guidance Section of the European Agricultural Guidance and Guarantee Fund

COUNCIL REGULATION (EEC) No 929/79  of 8 May 1979  amending Regulation (EEC) No 729/70 concerning the amount allotted to the Guidance Section of the European Agricultural Guidance and Guarantee Fund
THE COUNCIL OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community, and in particular Article 43 thereof,
Having regard to the proposal from the Commission (1),
Having regard to the opinion of the European Parliament (2),
Whereas the annual appropriations allotted to the Guidance Section of the European Agricultural Guidance and Guarantee Fund as provided for in Article 6 (5) of Council Regulation (EEC) No 729/70 of 21 April 1970 on the financing of the common agricultural policy (3), as last amended by Regulation (EEC) No 2788/72 (4), will from 1980 onwards no longer be sufficient to meet expenditure by this Section on the improvement of agricultural structures;
Whereas the amount of aid that may be awarded by the Guidance Section of the Fund should be fixed for a five-year period from 1 January 1980 and, except in the case of a new Council Decision, for each successive five-year period;
Whereas the annual appropriations allotted to the Guidance Section of the Fund should be fixed through the budgetary procedure in terms of the commitments to be met;
Whereas to enable the appraisal of the financial needs of each five-year period it is appropriate to foresee suitable arrangements not only for the transition to the new financial system but also at the end of each period,