Article 1 
By way of derogation from Article 11 (A) (1) (a) of Directive 77/388/EEC, the Netherlands is hereby authorized to take the open market value, as defined in Article 11 (A) (1) (d) of the said Directive, as the taxable amount for the establishment of rights in rem in respect of buildings or parts thereof and the land on which they stand, considered to be tangible property in pursuance of Article 5 (3) of that Directive, where the following two conditions are met: - the taxable amount determined in accordance with Article 11 (A) (1) (a) of the Directive is abnormally low in comparison with the price that could be obtained for the property in a transaction between independent parties operating at arm's length, - the party acquiring the rights in rem is a non-taxable legal person or a taxable person carrying on exempted activities that do not entitle him to deduct VAT. Article 2 This authorization shall be granted until 31 December 1998. Article 3 This Decision is addressed to the Netherlands. Done at Brussels, 8 July 1996. For the Council The President R. QUINN (1) OJ No L 145, 13. 6. 1977, p. 1. Directive as last amended by Directive 95/7/EC (OJ No L 102, 5. 5. 1995, p. 18).
Article 2 
This authorization shall be granted until 31 December 1998. Article 3 This Decision is addressed to the Netherlands. Done at Brussels, 8 July 1996. For the Council The President R. QUINN (1) OJ No L 145, 13. 6. 1977, p. 1. Directive as last amended by Directive 95/7/EC (OJ No L 102, 5. 5. 1995, p. 18).
Article 3 
This Decision is addressed to the Netherlands. Done at Brussels, 8 July 1996. For the Council The President R. QUINN (1) OJ No L 145, 13. 6. 1977, p. 1. Directive as last amended by Directive 95/7/EC (OJ No L 102, 5. 5. 1995, p. 18).