Document ID: 31984D0141

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COUNCIL DECISION
of 5 March 1984
amending Decision 76/402/EEC on the level of the interest rate subsidy provided for by Directive 72/159/EEC on the modernization of farms, to be applied in Italy
(84/141/EEC)
THE COUNCIL OF THE EUROPEAN
COMMUNITIES,
Having regard to the Treaty establishing the European Economic Community,
Having regard to Council Directive 72/159/EEC of 17 April 1972 on the modernization of farms (1), as last amended by Directive 84/436/EEC (2), and in particular the second subparagraph of Article 8 (2) thereof,
Having regard to the proposal from the Commission,
Whereas the Italian Government has requested an extension of the validity of Decision 76/402/EEC (3), as last amended by Decision 82/437/EEC (4), which is applicable until 31 December 1983;
Whereas the rate of interest currently applicable in Italy to long-term agricultural loans is 19,5 %, which is 6,1 % higher than the rate on which Decision 76/402/EEC was based;
Whereas an interest rate of 19,5 % and interest rate subsidies of 9, 11 and 12 % respectively would mean that the recipient would be called upon to bear a rate of interest in excess of the minimum laid down by Directive 72/159/EEC,
HAS ADOPTED THIS DECISION:
Article 1
With effect from 1 January 1984, Article 4 of Decision 76/402/EEC is hereby replaced by the following:
'Article 4
This Decision shall apply until 30 June 1984.'
Article 2
This Decision is addressed to the Italian Republic.
Done at Brussels, 5 March 1984.

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