Article 1 
This Regulation lays down the adaptations and transitional measures required in the agricultural sector in order to implement the agreements concluded during the Uruguay Round of multilateral trade negotiations.
Article 2 
The adaptations referred to in Article 1 are set out in the Annexes hereto.
Article 3 
1. Where transitional measures are necessary under the common agricultural policy in order to facilitate the switch-over from the existing arrangements to those resulting from the requirements of the agreements referred to in Article 1, such measures shall be adopted in accordance with the procedure laid down in Article 38 of Regulation No 136/66/EEC ( 1 ) or, as appropriate, the corresponding Articles in the other Regulations on the common organization of agricultural markets, or in Regulation (EC) No3448/93 ( 2 ). When such measures are adopted, account shall be taken of the special features of the various agricultural sectors, having due regard to the obligations arising from the agreements referred to in Article 1. 2. The measures referred to in paragraph 1 may be adopted during a period expiring on 30 June 1999 and shall not apply beyond that date. The Council, acting by a qualified majority on a proposal from the Commission, may extend that period.
Article 4 
1. Where, in view of the special circumstances affecting an agricultural product, compliance with the requirements on export support under the agreements referred to in Article 1 can be assured by means having a lesser effect than those provided for to that end, the Commission may exempt that product from the application of the provisions on export refunds covered by this Regulation. 2. Without prejudice to the provisions of this Regulation, the Commission may take any measures necessary to protect the Community market against imports of agricultural products from third countries towards which the Community has no obligations under the agreements referred to in Article 1. 3. Measures pursuant to paragraphs 1 and 2 shall be adopted in accordance with the procedure set out in Article 3 (1).
Article 5 
The Commission shall submit a report to the Council and to the European Parliament before 30 June 1997 on the operation of the arrangements resulting from this Regulation and on the experience acquired with the measures taken by third countries to implement the agreements concluded during the Uruguay Round of multilateral trade negotiations. The Council, acting on a proposal from the Commission in accordance with the procedure laid down in Article 43 (2) of the Treaty, will decide on any amendments arising out of the results and conclusions of that report.
Article 6 
1. This Regulation shall enter into force on 1 January 1995. 2. It shall apply from 1 July 1995. However: (a) Article 3 and Article 4 (2) shall apply from 1 January 1995; (b) the provisions laid down in the Annexes on import duties and additional import duties which apply to products listed in Annexes XIII and XVI for which an entry price is applicable shall apply during 1995 as from the commencement of the marketing year for the products concerned in1995; (c) the provisions on export refunds shall apply: — as from 1 September 1995 as regards Annexes II and XVI, — as from 1 October 1995 as regards Annex IV, — as from 1 November 1995 as regards Annex V; (d) the provisions laid down in Annex XV shall apply as from 1 January 1995; (e) the provisions laid down in Annex XVI, 1.2, shall apply as from 1 January 1996. This Regulation shall be binding in its entirety and directly applicable in all Member States.