Council Regulation (EEC) No 428/87 of 9 February 1987 setting up a system of compensation for loss of export earnings for least-developed countries not signatory to the Third ACP - EEC Convention

COUNCIL  REGULATION (EEC) No 428/87
of 9 February 1987
setting up a system of compensation for loss of export earnings for least-developed countries not signatory to the Third ACP - EEC Convention
THE COUNCIL OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community, and in particular Article 235 thereof,
Having regard to the proposal from the Commission (1),
Having regard to the opinion of the European Parliament,
Whereas in pursuance of the Community development cooperation policy it is desirable to give effect on certain conditions to a system to compensate least-developed countries not signatory to the Thrid ACP - EEC Convention for losses of export earnings;
Whereas amongst the objectives that make up the importance and significance of development there is inter alia that of promoting the welfare and respecting the fundamental rights of the communities concerned; whereas it is therefore necessary to obtain the fullest guarantees that the system will operate to the benefit of those communities;
Whereas for the purposes of implementation, the aims and outlines of the system should be established in a framework regulation;
Whereas to ensure that the system attains its objectives it is necessary to provide that the countries concerned should benefit only if they undertake to abide by certain conditions;
Whereas the Treaty has not provided the necessary powers other than those of Article 235,