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( 1 ) OJ NO 106 , 30 . 10 . 1962 , P . 2553/62 .

( 2 ) OJ NO L 263 , 19 . 9 . 1973 , P . 1 .

( 3 ) OJ NO L 106 , 29 . 4 . 1977 , P . 27 .

( 4 ) OJ NO L 90 , 4 . 4 . 1981 , P . 1 .

COUNCIL REGULATION ( EEC ) NO 2923/81

OF 10 OCTOBER 1981

AMENDING , WITH RESPECT TO THE FRENCH FRANC , REGULATION ( EEC ) NO 878/77 ON THE EXCHANGE RATES TO BE APPLIED IN AGRICULTURE

THE COUNCIL OF THE EUROPEAN

COMMUNITIES ,

HAVING REGARD TO THE TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY ,

HAVING REGARD TO COUNCIL REGULATION NO 129 ON THE VALUE OF THE UNIT OF ACCOUNT AND THE EXCHANGE RATES TO BE APPLIED FOR THE PURPOSES OF THE COMMON AGRICULTURAL POLICY ( 1 ), AS LAST AMENDED BY REGULATION ( EEC ) NO 2543/73 ( 2 ), AND IN PARTICULAR ARTICLE 3 THEREOF ,

HAVING REGARD TO THE PROPOSAL FROM THE COMMISSION ,

WHEREAS THE REPRESENTATIVE RATES CURRENTLY APPLICABLE WERE FIXED BY COUNCIL REGULATION ( EEC ) NO 878/77 OF 26 APRIL 1977 ON THE EXCHANGE RATES TO BE APPLIED IN AGRICULTURE ( 3 ), AS LAST AMENDED BY REGULATION ( EEC ) NO 850/81 ( 4 );

WHEREAS , WITH EFFECT FROM 5 OCTOBER 1981 , CERTAIN CHANGES IN THE CENTRAL RATES OF THE COMMUNITY CURRENCIES HAVE OCCURRED WITHIN THE EUROPEAN MONETARY SYSTEM ; WHEREAS THESE CHANGES THEORETICALLY INVOLVE THE INTRODUCTION OF MONETARY COMPENSATORY AMOUNTS IN FRANCE ; WHEREAS IT IS POSSIBLE TO AVOID THIS BY CHANGING THE FRENCH REPRESENTATIVE RATE ;

WHEREAS , TO ACHIEVE THIS OBJECTIVE , SUCH A RATE SHOULD BE ADOPTED IMMEDIATELY ;

WHEREAS THE MONETARY COMMITTEE WILL BE CONSULTED ; WHEREAS , IN VIEW OF THE URGENCY , IT IS NECESSARY TO ADOPT THE MEASURES ENVISAGED UNDER THE CONDITIONS PROVIDED FOR IN ARTICLE 3 ( 2 ) OF REGULATION NO 129 ,

HAS ADOPTED THIS REGULATION :

ARTICLE 1

ANNEX IV TO REGULATION ( EEC ) NO 878/77 IS REPLACED BY THE ANNEX TO THIS REGULATION .

ARTICLE 2

THIS REGULATION SHALL ENTER INTO FORCE ON 12 OCTOBER 1981 .

THIS REGULATION SHALL BE BINDING IN ITS ENTIRETY AND DIRECTLY APPLICABLE IN ALL MEMBER STATES .

DONE AT BRUSSELS , 10 OCTOBER 1981 .

FOR THE COUNCIL

THE PRESIDENT

P . WALKER

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ANNEX

FRANCE

1 . 1 ECU À 6.08656 FRENCH FRANCS .

THIS RATE SHALL APPLY FROM 12 OCTOBER 1981 .

2 . HOWEVER , IN THE FISHERIES SECTOR IT SHALL APPLY FROM 1 JANUARY 1982 AND UNTIL THAT DATE THE FOLLOWING RATE SHALL APPLY :

1 ECU À 5.84700 FRENCH FRANCS .