Regulation (EEC) No 1134/68 of the Council of 30 July 1968 laying down rules for the implementation of Regulation (EEC) No 653/68 on conditions for alterations to the value of the unit of account used for the common agricultural policy

• Published date: 01 August 1968
• Subject Matter: Provisions under Article 235 EEC,Common customs tariff,Monetary measures in the field of agriculture
• Official Gazette Publication: Journal officiel des Communautés européennes, L 188, 1 août 1968

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31968R1134

Regulation (EEC) No 1134/68 of the Council of 30 July 1968 laying down rules for the implementation of Regulation (EEC) No 653/68 on conditions for alterations to the value of the unit of account used for the common agricultural policy

Official Journal L 188 , 01/08/1968 P. 0001 - 0004
Danish special edition: Series I Chapter 1968(II) P. 0391
English special edition: Series I Chapter 1968(II) P. 0396
Greek special edition: Chapter 03 Volume 4 P. 0003

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( 1 ) OJ N L 123 , 31 . 5 . 1968 , P . 4 .

( 2 ) OJ N 106 , 30 . 10 . 1962 , P . 2553/62 .

( 1 ) OJ N 165 , 21 . 9 . 1966 , P . 2965/66 .

( 2 ) OJ N 172 , 30 . 9 . 1966 , P . 3025/66 .

( 3 ) OJ N L 148 , 28 . 6 . 1968 , P . 13 .

REGULATION ( EEC ) N 1134/68 OF THE COUNCIL

OF 30 JULY 1968

LAYING DOWN RULES FOR THE IMPLEMENTATION OF REGULATION ( EEC ) N 653/68 ON CONDITIONS FOR ALTERATIONS TO THE VALUE OF THE UNIT OF ACCOUNT USED FOR THE COMMON AGRICULTURAL POLICY

THE COUNCIL OF THE EUROPEAN COMMUNITIES ,

HAVING REGARD TO THE TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY ;

HAVING REGARD TO COUNCIL REGULATION ( EEC ) N 653/68 ( 1 ) OF 30 MAY 1968 ON CONDITIONS FOR ALTERATIONS TO THE VALUE OF THE UNIT OF ACCOUNT USED FOR THE COMMON AGRICULTURAL POLICY , AND IN PARTICULAR ARTICLE 6 THEREOF ;

HAVING REGARD TO THE PROPOSAL FROM THE COMMISSION ;

WHEREAS COUNCIL REGULATION N 129 ( 2 ) ON THE VALUE OF THE UNIT OF ACCOUNT AND THE EXCHANGE RATES TO BE APPLIED FOR THE PURPOSES OF THE COMMON AGRICULTURAL POLICY , AS AMENDED BY REGULATION ( EEC ) N 653/68 , DEFINED BY A WEIGHT IN FINE GOLD THE VALUE OF THE UNIT OF ACCOUNT TO BE USED FOR THE COMMON AGRICULTURAL POLICY AND THE SPECIAL TRADE SYSTEMS FOR CERTAIN GOODS PROCESSED FROM AGRICULTURAL PRODUCTS ; WHEREAS , MOREOVER , THAT REGULATION ALSO PROVIDED THAT THE RATES OF EXCHANGE BETWEEN CURRENCIES TO BE APPLIED FOR THE SAME PURPOSES ARE THOSE CORRESPONDING TO THE PAR VALUE COMMUNICATED TO THE INTERNATIONAL MONETARY FUND , WHICH IS ALSO DEFINED BY A WEIGHT IN GOLD ; WHEREAS THAT REGULATION THUS FIXED THE RATIO BETWEEN THE UNIT OF ACCOUNT AND THE DIFFERENT CURRENCIES ; WHEREAS , IN ACCORDANCE WITH REGULATION ( EEC ) N 653/68 , RULES SHOULD BE ADOPTED TO BE APPLIED WHERE THERE IS AN ALTERATION IN THE VALUE OF THE UNIT OF ACCOUNT OR THE EXCHANGE RATES ;

WHEREAS ANY ALTERATION IN THE VALUE OF THE UNIT OF ACCOUNT OR THE CURRENCY OF A THIRD COUNTRY MAY NECESSITATE AN URGENT AMENDMENT OF THE AMOUNTS FIXED IN PURSUANCE OF PROVISIONS ON THE COMMON AGRICULTURAL POLICY OR THE SPECIAL TRADE SYSTEMS ARISING THEREFROM , IN THAT THE ELEMENTS USED IN THE CALCULATION OF THOSE AMOUNTS , DETERMINED IN MANY CASES ON THE BASIS OF PRICES RULING ON INTERNATIONAL MARKETS , ARE AFFECTED BY THE ALTERATION IN QUESTION OR BY THE RESULTS WHICH IT PRODUCES ON THE MARKET ;

WHEREAS , BECAUSE OF THE ADVANCE FIXING OF CERTAIN OF THE AMOUNTS REFERRED TO ABOVE , THE PROPER FUNCTIONING FROM AN ECONOMIC AND FINANCIAL POINT OF VIEW OF THE COMMON MARKET ORGANISATIONS OR THE SPECIAL SYSTEMS REFERRED TO ABOVE MIGHT BE ENDANGERED IF THE TRANSACTIONS TO WHICH SUCH AMOUNTS APPLY ARE CARRIED OUT...