title: Recommendation for a DECISION OF THE COUNCIL on the application by the European Economic Community, as a provisional measure, of the Protocol of 23 March 1973 for the extension of the 1963 International Olive Oïl Agreement (submitted to the Council by the Commission)

text:
ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (73) 806
Vol. 1973/0152
 ---pagebreak--- Disclaimer
Conformément au règlement (CEE, Euratom) n° 354/83 du Conseil du 1er février 1983
concernant l'ouverture au public des archives historiques de la Communauté économique
européenne et de la Communauté européenne de l'énergie atomique (JO L 43 du 15.2.1983,
p. 1), tel que modifié par le règlement (CE, Euratom) n° 1700/2003 du 22 septembre 2003
(JO L 243 du 27.9.2003, p. 1), ce dossier est ouvert au public. Le cas échéant, les documents
classifiés présents dans ce dossier ont été déclassifiés conformément à l'article 5 dudit
règlement.
In accordance with Council Regulation (EEC, Euratom) No 354/83 of 1 February 1983
concerning the opening to the public of the historical archives of the European Economic
Community and the European Atomic Energy Community (OJ L 43, 15.2.1983, p. 1), as
amended by Regulation (EC, Euratom) No 1700/2003 of 22 September 2003 (OJ L 243,
27.9.2003, p. 1), this file is open to the public. Where necessary, classified documents in this
file have been declassified in conformity with Article 5 of the aforementioned regulation.
In Übereinstimmung mit der Verordnung (EWG, Euratom) Nr. 354/83 des Rates vom 1.
Februar 1983 über die Freigabe der historischen Archive der Europäischen
Wirtschaftsgemeinschaft und der Europäischen Atomgemeinschaft (ABI. L 43 vom 15.2.1983,
S. 1), geändert durch die Verordnung (EG, Euratom) Nr. 1700/2003 vom 22. September 2003
(ABI. L 243 vom 27.9.2003, S. 1), ist diese Datei der Öffentlichkeit zugänglich. Soweit
erforderlich, wurden die Verschlusssachen in dieser Datei in Übereinstimmung mit Artikel 5
der genannten Verordnung freigegeben.
 ---pagebreak--- COMMISSION OP THE EUROPEAN COMMUNITIES
                                                     COM(73)506 final
                                                     Brussels , 30 May 1973
                            Recommendation for a
         on the application "by the European Economic Community,
         as a provisional measure , of the Protocol of 23 March
         1973 for the extension of the 1963 International Olive
                             Oïl Agreement
               ( submitted to the Council "by the Commission)
   C0-1(73 ) 806 final
 ---pagebreak---                                                            VI/1595/T3-S
                                                           Orig. : F
                       - EXPLANATORY JtEMQRANDUM -
     1.   By Decision of 17 October 1972 , the Council authorised the
Commission to conduct negotiations on behalf of the Community for the
extension of the International Agreement on Olive Oil .
     2.   The Conference on Olive Oil organized by the United Nations
which was held at Geneva from 19 to 23 March 1973 , adopted a Protocol
for the further extension of the 19^3 International Olive Oil Agreement ,
in the elaboration of which the Community and its Member States took an
active part .
   ' 3«   Since the Community has the opportunity to become a party to
the 1973 Protocol , and thus to the amended International Agreement - the
necessary legal provisions to this end having been adopted by the
Conference - and as the amendments made by the Protocol have made the
Agreement as satisfactory as possible to the Community , the Commission
oonsiders that it can recommend the Council to take the steps necessary
for the accession of the Community .
     4 » According to the provisions of the Protocol , it is open until
30 October of this year for signature by Governments which are at present
parties to the Agreement . Under present circumstances the Community
cannot follow this procedure as it is not yet a party to the Agreement *
This procedure could however be used by those Member States which are
parties , namely Italy , Prance jthe BLEU , the United Kingdom and possibly
by the other Member States if the formalities for their accession to
the 1969 Protocol have been completed .
     5-   The procedure to be followed by the Community would be that
laid down in Article 9 of the Protocol ( accession by deposit of
instrument ).                                                          j
 ---pagebreak---                                                            VI/1595/73-E
                                                           Orig . : F
         The Commission recommends "that , until such time as the instruments
of ratification or of accession have "been deposited by the Governments of
the Member States , the Council should avail itself of the procedure laid
down in Articles 6 and 7 of the Protocol .
     6 . The draft decision ( annexed to this Memorandum ) aims at permitting
the Community to become a provisional $arty to the Protocol of 23 March 1973
for the extension of the 19&3 International Olive Oil Agreement and conse
quently to the said Agreement .
 ---pagebreak---                                                           VI/159V73-3
                                                          Orig ï P
                            Reconnen&ation for a
                            DIVISION OF røg GCgJCIL
          on the application by the European Economic Community ,
          as a provisional measure , of the Protocol of 23 March
          1973 for the extension of the 1963 International Olive
                            Oil Agreement
THE COUNCIL OP THE EUROPEAN COMMUNITIES ,
Having regard to the Treaty establishing the European Economic Community ,
and in particular Article 113 thereof ;
Having regard to the recommendation from the Commission ;
Whereas the Conference on Olive Oil organized by the United Nations has
adopted a Protocol for the extension of the 1963 International Olive Oil
Agreement ;
                                                                  , •   I
Whereas this amended International Agreement in a general way favours
international cooperation and contributes to the achievement of the
Community f s objectives in the fields of commercial policy arid common
agricultural policy ;
Whereas it is advisable that the Community declare its intention to
accedd to the Protocol of 23 March 1973 for the further extension of the
1963 International Olive Oil Agreement , and to apply that Protocol as a
provisional measure ,
                                                           /
HAS ADOPTED THIS DECISION :
                                Sole Article
      1 . The European Economic Community declares its intention to accede
to the Protocol of 23 March 1973 for the extension of the 1963 International
Olive Oil Agreement .
      2.  The provisions of this Protocol shall apply provisionally from
the date of its entry into force ( l). The texts of the Protocol and of the
( l) This date shall be published in the Official Journal of the European
     Communities .
 ---pagebreak---                                                           VI/1595/73-E
                                                          Orig : F
International Olive Oil Agreement , as amended by the said Protocol , are
annexed to this Decision .
     3.  The President Sf the Council is authorized to. designate the
person empowered to notify the Government of Spain , with whom the
Agreement and Protocol are deposited , of this Decision .
Done at Brussels ,
                                          For the Council ,
 ---pagebreak---                                                                         Distr .
                                                                        GENERAL
                                                                    . ,TD/OLIVE OIL. 5/6
                                                               '/;; '       "Aprii 1973
                                                                        Original : ARABIC/ENGLISH/
                                                                                FRENCH/ITALIAN/
                                                                                SPANISH
                                                              • « <                           j        .         '
UNITED NATIONS CONFERENCE 'ON .OLIVE OIL, . 1973 ,                    .     ...     ' "V"''                  '
Geneva, 19 March 1973 .                        .       .• ...             , ; ...
                 PROTOCOL OF 23 MARCH 1973 FURTHER EXTENDING
                 THE INTERNATIONAL OLIVE OIL AGREEMENT , 1963
                                            WITH AMENDMENTS
                   adopted by the Conference at its final
                            plenary meeting , 23 March 1973'
                     \i ' J. J . '
                                                                                .1
                                                                                ···.·· ; .·  0"·     '       ..
                                •  » J> ' '                                                              b     .    iV *■
 ---pagebreak--- TD/OLIVE OIL.5/6
page 2
                   PROTOCOL OF 23 MARCH 1973 FURTHER EXTENDING
                   THE INTERNATIONAL OLIVE OIL AGREEMENT , 1963
                                 WITH AMENDMENTS
      The Parties to this Protocol ,
      Considering that the International Olive Oil Agreement , 1963 , ( which succeeded
that of 1956 ), exrtended by the Protocols adopted in Geneva on 30 March 1967 and on
7 March 1969 , including the amendments which entered into force on 1 Ndvember 1971
 (these three instruments being hereinafter referred to as "the Agreement ") is due ,
in principle , to expire on 31 December 1973 >
      Desiring to continue the Agreement in force beyond that date ,
      Have agreed as follows ;
                                     ARTICLE 1
      1 . The Agreement , as amended by this Protocol , shall , as between the Parties
to the Protocol , continue in force until 31 December 1978 .
      2 . Any Government which become_s a Party to' this Protocol, 'sh9.ll be a Party to
the Agreement as amended thereby .
      3 . So far as the Parties to this Protocol are concerned , the Agreement and
this Protocol shall be read and interpreted as one single instrument and shall be
known as the International Olive Oil Agreement , 1963 , as amended, 1973 .
                                     ARTICLE 2
      The relevant provisions of the Agreement are amended as follows !
PREAMBLE
      Delete the first paragraph under heading ( i ) and rrubstitute therefor ?
          is a perennial fruit tree which , under conditions regarded as normal ,
begins to produce at an age varying between 6 and 15 years and on an average
comes into full production when approximately 30 years old,".
 ---pagebreak---                                                                                TD/OLIVE OIL. 5/6
                                                                                page 3
           Amend ( iv ) to read:    «
           " Considering "that it is essential to continue and develop the work undertaken
within the framework , of , the . International Olive. Oil Agreement ,., 1956". ■ •
 CHAPTER I - GENERAL OBJECTIVES                                                             .
                                            ΑιΊ;ίόΐ£ 1                   :       '
          Delete par&graph'l and substitute therefor :
          " 1 .- T6 promote international co-r-operatioii in connexion with world Olive oil
problems , to prevent the occurrence of any- unfair competltibn in the world' blive
oil trade and to ensure the delivery of a commodity that conforms to all the
specifications of the contracts conoluded."
        ^Insert a new paragraph 5 reading &s follows :
          " 5 * To examine the possibility of taking necessary action with regard to
other products of the olive tree }"                                          '
     '■■■ Re-number 'paragraph 5 as paragraph 6 and modify it to redd as follows !
                                                         ...                              ,      ·         . Ι ,
                                      1                                                                            » '
          "6 .   To continue and extend the work undertaken under the International Olive
Oil Agreement , 1956 ." •
CHAPTER II - PARTICIPATION
                                ■ '                  •••>..                    ■
                     .                     Artide              2
                                           ■ ι I » ■ > ■ 11 ι· ι Ι Γ · 1
                                                  r   ',                                                         •
          Replace thei text of the . Article, by the following:
          "Each Contracting Party shall constitute a single Member -of the Council -except
as otherwise provided in paragraph 2 pf Article 24 of this Agreement'!.
CHAPTER III - DEFINITIONS
                                           Article 3                                 ■' .
  ..      Delete* paragraph 1 and substitute therefor :
                                         1#                , * !           •     ...
          "1 »   The 'Council 1 means the International Olive Oil Council referred to in
Article 21 of this Agreement ."
 ---pagebreak--- TD/OLIVE OIL . 5/6
page 4
        Delete paragraph 4 and. substitute therefors
        "4 .  'Mainly producing Member' means a Member whose production of olive oil
has , during the 1965/66 - 1970/71 olive crop years , inclusive , exceeded its imports
from 1966 to 1971 ) inclusive ."
        Delete paragraph 5 and substitute therefor ;
        "5 .  'Mainly importing Member' means a Member whose production of olive oil
has , during the 1965/66 - 1970/71 olive crop years , inclusive , been smaller than
its imports from 1966 to 1971 > inclusive , or for which no production of olive oil
was recorded during the same crop years ."
        Insert new paragraph 6 as follows :                                        . ,
        " 6 . 'Member' means a Contracting Party or a territory or group of territories
given separate representation vinder paragraph 2 of Article 24 of this Agreement ."
        Insert new paragraph 7 as follows ;
        " The European Economic Community , if . it becomes a Contracting Party , shall
be considered both as a 'mainly producing Member' and a         'mainly importing Member' ,
provided that ;
        (i )  The provisions of Article 16 of this Agreement shall not apply to the
Community |
      ( ii ) Notwithstanding paragraph 1 of Article 28 of this' Agreement , the Community
shall be entitled , in all matters falling within Community jurisdiction , to cast
the votes in the Council allotted to each of its member States which are Contracting
Parties , whether they are mainly producing or mainly importing Members ;
    ( iii )   The Community shall also be entitled, in all matters falling within
Community jurisdiction , to cast in any committee of the Council the votes of its
member States which are members of that committee ;        and
      ( iv ) Notwithstanding Article 33 of this Agreement , the' contributions: of the
Community to the Administrative Budget for each calendar year shall be fixed by
the Council on the basis of the number of votes in the Council allotted to States
members of the Community which are Contracting Parties ;       such contributions shall
replace individual contributions by those States ."
 ---pagebreak---                                                                   TD/OLIVE OIL . 5/6
                                                                  page 5
 CHAPTER IV - GENERAL OBLIGATIONS
                                      Article 4
      Delete the phrase "Participating . Governments" and substitute therefor : : ;
 "Members?.*,.., • ••     ' 'r ,° l                             •
                                      Article 5
      Delete the phrase "Participating Governments" and substitute therefor :
"Members".                                                             , •<             M
                                                                           ' *               ·■
                                 : x  Article 6
      Delete the phrase "Participating Governments'* and substitute therefor :
"Members ".                           -
      Delete the phrase " and to avoid . the introduction of unfair competitive
practices in world trade in olive oil".
                                      Article 7           .. .                '• 1        \(
      Delete the phrase " Participating Governments", and in each case , substitute
therefor :     "Members".
CHAPTER V
     Delete the title of this Chapter and substitute therefor :
     " DESIGNATIONS AND DEFINITIONS OP OLIVE OILS AND .OF OLIVE-RESIDUE OILS .
INDICATIONS OF SOURCE AND APPELLATIONS OF ORIGIN."
                                      Article 8
     Paragraph 1 :     Delete paragraph 1 and substitute therefor :
                                                                                ■ I*
     "1 .   The designation 'olive oil ' " shall be^restricted to the oil obtained
exclusively , from the olive , excluding'^! Is obtained by solvents or reesterification
processes , as.weil as gny mixture with oils of any other nature ."
 ---pagebreak--- TD/OLIVE OIL.5/6
page 6
     Paragraph 2 of this Article is redrafted as follows ?
     "Members shall undertake to suppress both in domestic and in international
trade , with the least possible delay and in any case before the expiry of this
Agreement any use of the designation 'olive oil' alone or in combination with
other words , which is not in conformity with this Article".
                                     Article 9
     Paragraph 1 ;    Delete  paragraph 1 and substitute therefor ;
     " 1 . The designations of olive oils and of olive-residue oils of different
qualities are given in Annex A to this Agreement , which specifies the corresponding
definition for each designation ,, taking into account for each such quality , the
recommendations passed under paragraph 2 of Article 22 of this Agreement , covering
standards for the physical and chemical characteristics of olive oil and olive-
residue oil ".
     Paragraph 2 s    Delete paragraph 2 and substitute therefor ;
     " 2 . Such designations , which are compulsory for international trade purposes ,
must be used for each quality of olive oil and of olive-residue oil and they shall
appear in clearly legible characters on all containers ."
                                    Article 10
     Paragraph I s    Delete the phrase " Participating Governments " and substitute
therefor ;  " Members ".
     After the word " adopt " insert ;  " at the earliest possible date and before
the expiry of this Agreement ".
     Delete the phrase " Articles 8 , 9j H and 12 of this Agreement "     and substitute
therefor ;  " Articles 9 and. 11 of this Agreement and shall endeavour to apply them
in their domestic trade".
     Paragraph 2 ; Delete the phrase " of appellations of origin , indications of
source and designations of olive oils" and substitute therefor ; " of indications
of source , appellations of origin and designations Of olive oils and of olive-
residue oils ".
 ---pagebreak---                                                                        TD/OLIVE OIL.5/6
                                                                       page 7
        After "the phrase "used in the international marketing of olive oils" add:
 " and olive-residue oils".
        At the end of the paragraph insert tlie words :    " and olive-residue oils"*
                                       Article 11
        Paragraph I t Delete the phrase "Appellations of origin or indications of
 source" and substitute therefor : " Indications of source or appellations of
 origin" .
                                       Article 12
        Paragraph 1 :   Delete the paragraph and substitute therefor :                 ;
        "Any disputes on the subject of indications of source and appellations of ,
origin arising from interpretation of the clauses of this chapter of this           . ...
Agreement , or from difficulties in applying these , provisions which have not
been settled by direct , negotiation shall be examined by the Council *"
      ' Paragraph 2 :   Delete the paragraph and substitute therefor :
        " 2 . The Council shall endeavour to bring about conciliation after the Advisory
Commission provided for in paragraph 1 of Article 35 of this Agreement has expressed
its opinion and prior consultation with the World Intellectual Property Organization,
the International Federation of Olive Growers , and with a competent professional
organization of a mainly importing Member and, should the need arise , with' the
International Chamber of Commerce and the international institutions specialized
in analytical chemistry j should it be unsuccessful and after all efforts to reach
agreement have beeii exhausted,, the Members concerned shall have the right of
recourse , as a last resort , to the International Court of Justice ."
                                                                     *
CHAPTER VI - WORLDWIDE PUBLICITY TO PROMOTE OLIVE OIL CONSUMPTION
                                     • Article 13
        Paragraph 1 : . Delete the phrase " The Participating Governments" and substitute
the following therefor : " The Members , contributing to the Publicity Fund referred
to in paragraph 3 of this Article". +,
        Paragraph 2 :   After the phrase :  " chemical characteristics and" inserts     " , if
necessary ,".                                            "
 ---pagebreak--- TD/OLIVE OIL . 5/6
page 8
                                      Article 14
      Delete this Article and substitute therefors
      " The general and more limited publicity campaigns to be undertaken under
Article 13 above shall be decided on by the Council according to the resources
made available to it for the purpose' and having regard to the following
considerations and opinions ;                      '
      ( a)   Priority shall be given to action in the mainly producing countries and
in countries where the consumption of olive oil is likely to increase }
      (b )   The execution of campaigns may not be envisaged before the date on which
the actual payments into the publicity fund total 70 per cent of the contributions
due |
      (c)    Consultation of appropriate agencies and institutions ."
                                      Article 16
      First clause s In the first seritence , delete the phrase " The Participating .
Governments of the mainly producing countries " and substitute therefors,- "The
mainly producing Members ".
      In the second sentence , delete the word " Government " and substitute therefor ;
" Member " .
      Second clause s   Delete the word " country 's " and substitute therefors " Member 's
      Delete the phrase " any modification in the coefficients set out in Annex B of
the Agreement shall require a unanimous decision -in view of paragraph 2- of this
Article" and substitute therefors " any modification which may be made on that
occasion in the coefficients set out in Annex B to the Agreement as amended , 1973 ^
shall require a - unanimous decision of the mainly producing Members ".
      Third clause s In the first sentence , delete the word " countries which are
parties to this Agreement " and substitute therefors "Members ". In the second
sentence , delete the words " countries which are parties to this Agreement " and
substitute therefors     " Members ".
 ---pagebreak---                                                                  TD/OLIVE OIL.5/6
                                                                 page 9
       Fourth clause ; In the first sentence , delete the words "the Government s . pf              '
 other participating countries" and substitute therefors "the mainly importing
 Members ".                 ^       •" **   ' •" '* "■
       In the English text / delete the 6ebond sentenoe of this clause .
Paragraph 2
       First sentence s                                                           .   ■■■:'■+ .. : V.
       Delet ^ the words "The Participating -Governments of the mainly producing      1
 countries " and substitute therefors     "The mainly producing Members ".          •         •
       Delete the words "Annex B to this Agreement " and substitute therefors     "Annex.jB
to ,the Agreement as amended , 1973"*
       In the English text , after the firs#' sentence add the following;'                  :
      ."The coefficients in question * determined according to the average prpduction
and average net exports or imports of olive oil of each of the Members during the
olive crop years referred to in Article 3 of the Agreement as amended , 1973 , in .                  .
the proportion of 20 per cent for production and 80 per cent for net exports' or - ' - - V
imports , shall be subject to revision by the Council in 1976 for the purpose of
their application with effect from 1 January • 1977 * Such revision shall be
effected by a decision taken by a majority of four-fifths of the votes cast ,
including the votes df at least 70 p'ei4 cent of the number of mainly producing •
Members , taking into consideration the average production and average net exports
or imports of olive oil of each of the mainly producing Members during the olive
crop yeaj?s 1968/69 to 1973/74 * in the same proportion as specified above for such
production and such net exports or imports ."
Paragraph 3                                                                '
      Delete the words , " Governments of mainly producing countries" and substitute
therefor ; "mainly producing Members ". Delete the word " Government " and substitute
therefor ; " Member". Delete the words " Annex B to this Agreement " and substitute
therefor ; " Annex B tp the . Agreement as amended, 1973" ♦ Delete the word " Govern
ments" and substitute therefor ;     "Members".                                 .
 ---pagebreak--- TD/OLIVE OIL . 5 /6
page 10
Paragraph 7
       Delete the paragraph and substitute the following therefors
       " 7 . Wiih regard to the collection of contributions to the Publicity Fund and
in the event of delay in the payment of same , the provisions of paragraph 5 of
Article 33 of this Agreement shall apply ."                                 :       .
Paragraph 8
       Delete the phrase "Participating Governments" and substitute therefors
"Members" .              .
Paragraph 9
       First clause ; Delete the phrase " Participating Government' of a mainly
producing country" and substitute therefor ; "Mainly producing Member".
       Second clause ;     Delete the word " country" and substitute therefor ;   "Member".
CHAPTER VII - ECONOMIC MEASURES                                                 ,         '
                                       Article 19
       Paragraph 1 ;    Delete the phrase "Participating Government " and substitute
therefor ;    " Member".
       Delete the phrase "non-participating Governments" and substitute therefor :
" Governments of States not Members of this Agreement ".
       Paragraph 2 s    Delete the phrase " Participating Governments" and substitute
therefors     " Members ".
       Delete the phrase "held in their countries" and substitute therefors           " held
in their territory".
       Delete the p&rase "to export to participating or other countries " and
substitute therefor ; "to export to Members or to non-Members of this Agree
ment " .
 ---pagebreak---                                                                   td/olive OIL. 5/6
                                                                  page 11
       Paragraph 3 s  Delete the phrase " Governments of countries'' . and. substitute
  therefors   "Members".                    ^               '
       Paragraph 4 8  In the first sentence delete the phrase" "Participating ■
. Governments" and substitute therefors         "Members".
       Delete "the phrase "member and other countries " and substitute therefors
  "Members and non-Members of this Agreement ".
       Delete the phrase "participating countries" and substitute therefors        "Members".
       In the second sentence , delete the phrase "Participating'Goverhment's" and
  substitute therefors     " Members ".
       Paragraph 5 s  Delete the phrase "Participating Governments " and substitute
 therefors    "Members1' .            ,       •   ' ' '
                                        Article 20
       Delete the phrase " Participating Governments " and substitute therefors
 "Members ".                                                            . •
               \ .
  CHAPTER VIII - ADMINISTRATION .
                                        Article 21
       In the title preceding this Article , delete the phrase " Olive Oil Council"
 and substitute therefor :, " International Olive Oil Council", l/
       Delete the text and substitute the following : " The International Olive Oil.,'-
 Council shall be entrusted with the administration of this Agreement ",
                                        Article1 22
       Paragraph 2 s  After the phrase "Ways and means of securing" inserts , "the
 development of international trade and".                        ...
       Delete the phrase "Participating Governments" and substitute .therefors
 "Members ".
 i/    This change affects only the English , French and Spanish' versions .
 ---pagebreak---  TD/OLIVE OIL.5/6
 page 12
        Paragraph 2j sub-paragraph ( l ) 3   At the end. of the sub-paragraph inserts
 " and olive-residue oily "
        Sub-paragraph ( ll ) s  Delete the phrase " International Arbitratidn' Boards"
 and substitute therefors       " an International Reconciliation and Arbitration Board".
       After the phrase " of olive oil " insert ;    " and olive-residue . oil"*;. ■
        Sub-paragraph ( ill ) ;   At the end of the sub-parsigr^ph inserts     " and of olive-
residue oils 5 "
       Sub-paragraph ( lV ) s   Delete the words " of olive oii".
       Paragraph 3 s  After the words " olive oil " inserts     " and olive-residue oil ".
       Paragraph 5 ? first clause s     After the words " relating to olive oil " inserts
" and olive-growing ,"
                                                                             ' i't t '
       Second clause s Delete the phrase " Suggestions and recommendations" and
substitute therefors " recommendations and suggestions" .
       Delete the word " aims" and substitute therefors " objectives" l/.
       Third clause s  After the word " countries " inserts     " or groups of countries ".
       Paragraph 6 s  Delete the paragraph and substitute the following ? * ■
       " The Council shall establish procedures under which the Members shall inform
the Council of the conclusions at which they have arrived after considering the
recommendations and suggestions referred to in this Article or arising from
application of this Agreement ."
                                        Article 24
       Paragraph Is Delete the first sentence and substitute therefors " Subject
to the provisions of paragraph 2 of this Article , each Contracting Party shall
be a Member of the Council with alright to vote".
       In the third sentence , delete the phrase "Participating Government " and
substitute therefors      "Member".
1/     In the English text only .
 ---pagebreak---                                                                                TD/OLIVE OIL. 5/6
                                                                                page 13
      Paragraph 2 s  Delete the words " Participating Government " and substitute
therefor :  " Contracting Party"                                       .
                               i                                     »
      Paragraph 3 ?  In the first sentence , delete the worcls "Participating Govern
ments" and substitute therefors     " Contracting Parties",
      In the second sentence , delete the words " of the delegation of his Government
and substitute therefors    " of his delegation".
     Paragraph 4 s Delete the words "Participating Governments" and substitute
therefors " Contracting Parties".
                                    Article 25
     Paragraph Is    Insert the following sentence at the end of the paragraphs
     " Should a Member invite the Council to meet elsewhere than at its seat and
if a decision is taken agreeing to the invitation , said Member shall -bear the
extra expenditures resulting from such invitation          for the budget of the Council".
     Paragraph 3 _> sub-paragraph ( l ) s Delete the phrase "Participating Governments
and substitute therefors    "Members ". ;                                                      f : ' ""
     Sub-paragraph ( ilj s  Delete the phrase "Participating Governments" and
substitute therefors    "Members ".
                                    Article 26
     Delete the phrase " Governments of the countries" and substitute therefors
"Members".   Delete the phrase "Participating Governments" and substitute therefors
"Members" .                                                                                '
                                    Article 27
                                              Ji                                i •
                                            • ••,"«     •'   ,w *' .     ?' • '
     In the first sentence , delete the phrase "Participating Governments" and
substitute therefors "Members" and. delete the words "Participating Government "
and substitute therefor :   "Member"'.           . .,.r
     In the second sentence , delete the - woEd® "Participating Governments" and
substitute therefors    "Members".
 ---pagebreak---  TD/OLIVE OIL.5/6
 page 14
                                     Article 28
      Paragraph 1 ;    Delete the phrase " participating country" and substitute '
therefor ?    " Member".
      Add the following phrase to the present text ; "«•*> no State Member being
 entitled to more than 450 votes and no Member to less than 5 votes".
      Paragraph 2 ;    Delete the paragraph .
      Paragraph 3s     Renumber as paragraph 2 .      '                .      .
                                     Article 29
           srraph 1 ;  Delete the word " countries " and substitute therefors      "Members ",
      Add the following sentences      " The votes of abstaining Members shall not be
counted ."
      Paragraph 2 s    tielete the phrase " The Government of a participating mainly
producing country" and' substitute therefors       "A mainly producing Member".
      Delete the phrase " another mainly producing country" and substitute therefors
" another mainly producing Member".
      Paragraph 3 ° Delete the phrase "a mainly producing country" in both instances
and substitute therefor ; "a mainly producing Member".
      Delete the phrase " held by his own country" and substitute therefors          " held
by that Member".
      Paragraph 4. s Delete the phrase " The Government of a participating mainly
importing country" and substitute therefors "A mainly importing Member".
      Delete the word " country" and substitute therefors      "Member".
      Paragraph 5 s Delete the phrase "a mainly importing country" and substitute
therefors "a mainly importing Member",
      Delete the phrase "held by his country" and substitute therefor :         " held by
that Member".
      Delete the phrase "mainly importing countries " and substitute therefors
"mainly importing Members ".
 ---pagebreak---                                                                    TD/OLIVE OIL. 5 /6
                                                                   page 15-
                                    Article 30
      Paragraphs 1 arid 2 s Delete these paragraphs and substitute therefor a
paragraph 1 reading as follows !            ....
      " 1 . The Council may appoint' an Executive Comiriitiee composed of -three-fifths
and two-fifths respectively of representatives of mainly producing and mainly
importing Members".
      Paragraph 3 s Renumber the paragraph as paragraph 2 and delete in it the words
"on the proposal of each' of the two groups mentioned in paragraph 1 - I- this A.rticle
      Paragraphs 4 > 5 > 6 and 7 ' Renumber these paragraphs as "3" » "4'N "5"         ^
respectively .                                                                        <.->t .
      Paragraph 8 : Renumber the paragraph as paragraph 7 • , Delete the phrase
"Participating Government " and substitute therefors "Member".
                                    Article 31
      Paragraph jh' Delete the phrase "Participating Governments" and substitute
therefors    "Members ".
CHAPTER IX - STATUTE , IMMUNITIES AMD PRIVILEGES
    , Delete the title of this chapter and substitute therefor :
      " PRIVILEGES AM) IMMUNITIES" . . -  ■
                                    Article 32                '  ,
      Paragraph Is- Delete the phrase " each Participating State" and substitute
therefors    "the territory of each-Member" .
      Insert new paragraph 3 as follows s-^..
      " 3 . The Council , the Director and the staff of the secretariat are granted
the privileges , immunities and facilities set out in the Agreement concerning the
Seat of the Council between the Council and the Government of,-the State in which
the Seat is located."
 ---pagebreak---  TD/OLIVE OIL.5/6
 page 16
 CHAPTER X - FINANCIAL PROVISIONS
                                      Article 33
      ^jTa^raT)}^ 1 ; Dele*te the phrase "their respective Governments" and substitute
therefor ;   " the Members concerned".                      :
      Delete the phrase "Participating Government " and substitute therefors "Member .
      Paragraph 2 ;   In the first sentence , delete the phrase " Participating Govern
ment " and substitute therefors       "Member".
      In the second sentence , delete the word " Government ", and siibstitute therefor :
" Member" .
      Paragraph 3s    In the first sentence , delete the phrase " Participating Govern
ment " and substitute therefor ;      "Member"; delete the words "under Article 36" |
delete the word " country " and substitute therefors     "Member".
      In the second sentence , delete the phrase "Participating Governments" and
substitute therefors     " Members ".
      Paragraph^ 5 z  Delete the paragraph and substitute the following ;
      " 5 . Should a Member not fully settle its contribution to the Administrative
Budget within six months from the outset of the financial year , the Director shall
request it to do so as soon as possible . If said Member does not settle its
contribution within three months of the above time-limit , its right to vote in
Council sessions and Committee meetings shall be suspended until its contribution
has been fully settled . Nevertheless , except by a vote of the Council , it shall
not be deprived of any of its other rights nor released from any of its obligations
under this Agreement . It cannot be exonerated by any vote from financial obliga
tions under this Agreement ."                                 , ,
CHAPTERjg r CO-OPERATION WITH OTHER ORGANIZATIONS ■
      Delete the title and substitute therefors
      " CO-OPERATION WITH OTHER ORGANIZATIONS AND THE ADMISSION OP, OBSERVERS".
 ---pagebreak---                                                                                TD/OLIVE OÏL.5/6
                                                                                page 17
                     ,                                    Article 34
         Delete the Article and substitute therefors
         " 1 . The Council may make whatever arrangements axe appropriate for
  consultation or co-operation with the United Nations and its organs , in
  particular the United Nations Conference on Trade and Development (UNCTAD)
  and with the Food and Agriculture Organization and such other specialized
  agencies of the United Nations rand intergovernmental organizations -as. may be
  appropriate . It may also make such arrangements as are appropriate- in respect
  of its co-operation with governmental and non-governmental agencies or insti
 tutions . . It may also invite any of the organizations referred to in this _
 Article to attend any of its meetings as an observer .
         2.     The Council , bearing in mind the particular role of UNCTAD in inter
national commodity trade , will , as it considers appropriate , keep UNCTAD
 informed of its activities and programmes' of work .                           '             .     '
         3.     The Council may also invite any State which is a member of the United
Nations or of one of its specialized agencies ' or of the International Atomic
Energy Agency but not yet Party to this Agreement to attend any' of its meetings
 as an observer ."
 CHAPTER XII - DISPUTES AND COMPLAINTS
'  » ■ "  ' »■■■! » m  m 1 * m am IM m ■ ■ nwimii   «■■■.« m      -
                                                         Article 35
         Paragraph 1 ;               Delete the phrase " Participating Government " and substitute
therefor :           "Member" .                 .-•••:•                                           •
         Paragraph 3 ?               Delete the phrase " Participating Government " in both instances ,
and substitute therefors                         "Member".          '
         After the phrase " decision on the subjeot ", insert the phrases                             " after
consulting the Members concerned".                                            ■                 •       –7    .
         Paragraph 4 s Delete the phrase "Participating Goven^nent " and substitute
therefors "Member".'                              ' !                 ' '             ' ' . •             .,      ,
                                                           ; .it.'        :       ■                             '
         Paragraph 5s Delete the phrase "Participating Government " and . substitute
therefors " Member", •                                                      ' '     • –     •
 ---pagebreak---   TD/OLIVE OIL.5/6
  page 18
        Delete the word. " Government " and. in each instance substitute therefor ;
  "Member"- if.
              V
  CHAPTER XIV - • DURATION, AMENDMENT , SUSPENSION, WITHDRAWAL , EXPIRY , RENEWAL
                                    ■ Article 37
        Paragraph 2 s   Delete the phrase " Participating Governments" and. Substitute
  therefors   " Members ".
                                      Article 38
        Paragraph 1 s   Delete the phrase " Participating Government " and substitute
 therefors    "Member".
        Delete "this Agreement " and substitute therefors' "the Agreement as amended ,
  1973".
        Delete the phrase " Participating Governments" and substitute therefors
 " Contracting Parties".
        Paragraph 2 s   Delete the word " Government " and substitute therefors   "Member",
        Paragraph 3 s Delete the phrase "Participating Government shall notify
 depositary Government " and substitute therefors " Contracting .Party shall notify
 the depositary Government ".
        Paragraph 4 ° Delete the phrase " Participating Governments" and substitute
 therefors " Contracting Parties".
'       Paragraph       Delete the phrase " Participating Governments" and substitute
therefors " Contracting Parties".
     . Paragraph 6 s Delete the phrase , "by the Governments of the participating
  countries" and substitute therefors " by or on beh?.lf of Members".
      . Delete the phrase " by the Governments of all the participating countries"
 and substitute therefor ; "by or on behalf of all Members".
            sub-paragraph ( a ) ;  Delete the phrase " Participating Governments" and
 substitute therefor ;     " Contracting Parties ".                ,
  1/    This change affects only the English , French and Italian versions of the
        Agreement .
 ---pagebreak---                             ■                 • ' '•                                             TD/OLIVE OIL. 5/6 " -
                    ; .·          · . λ ; ·· "
                                                   , .     .
                                                         · : ·             ·
                                                                             -                .· Pag® 19                                -ι    .·»
              m;'T             i
             sub-paragraph ( b ) s           Delete and substitute therefors
       "( b ) The Council shall decide immediately whether the amendment is of such
importance that Members which have not accepted the amendment must be suspended
from participation in \ k<i ''"Agreement' as amended, 1973 > as from the date . 033. which ,                                                _
 such amendment comes into force in accordance with sub-^paragraph ( a) "above , and
 shall inform all Members accordingly . Should the Council decide that the amendment
is of such importance , the Members which' have' hot accepted it shall inform the ,/^/
 Council before the date on which the amendment is to enter into> force 1 in iaccord&nde
with sub-paragraph ( a ) above , whether they still consider such an amendment un
acceptable ; the participation in the Agreement as amended ,. 1973 , of Members .
which have so decided and those which have not given notice of their decision
shall then be automatically suspended from the date of entry' 'into force of the
amendment . Nevertheless , should any such Member satisfy the Council that it
was prevented from accepting the amendment before its entry into force , in
accordance with sub-paragraph ( a) above , on . account , of". .constitutional or institu
tional difficulties beyond its control , the Council may defer suspension until
such difficulties have been overcome and the Member has' notified the Council of
its decision ."
      Paragraph          -Delete "the phrase " Participating Government suspended" and                                                    i" '•»/>
substitute therefore' "Member whose participation has been 'suspended"#'" •J '
                                                             : ' . λ· , ϊ'     ·.·   . ·'·ν :· ϋο                  - ν   ; · ·■ . £.. .
                     '·' ·■■■'·■'                1 ΑγϊϊοΙθ 39 :                                               ν.
      Paragraph Is"' - Delete and substitute' the'tfefoi^ - ,r                                                   ■■■'•'■
                                                                                ' ■    -il,-:/:                •    •"
      ." 1 .  Should a Contracting Party consider its interest seriously endangered
by the fact that a signatory fails to ' ratify; accept or approve this' Agreement as ''
amended, 1973 > or because of conditions or reservations attached to a signature ,
ratification , acceptance or approval , it shall so notify the depositary , Government .
On receipt of such notification , the depositary Government shall inform thie Council
which shall examine the question during its first session following receipt of
such notification . If , after examination of the question by the Council , the
Contracting Party continues to consider, its interests seriously endangered it ;
may withdraw from the Agreement as amended by giving notice of its withdrawal to
the depositary Government within a period of thirty days after "being notified of
the Council 's decision ."           .                                             -
      Paragraph 2 , sub-paragraph ( a ) ; Delete the phrase " Participating Government "
and substitute therefors " Contracting Party'!.
 ---pagebreak--- TD/OLIVE 01 L. 5/6
page 20
            sub-paragraph ( b ) s Delete the phrase , in the first two instances
"Participating Government " and substitute therefors " Contracting Party".
                  ' •
     Delete the phrase " or by the withdrawal under Article 42 , paragraph 2 , of
all or some of the non-metropolitan territories represented by . another Participating
Government ",
            sub-paragraph ( c ) s Delete the phrase " Participating Government " in both
instances and substitute therefor :      " Contracting Party".
            sub-paragraph ( d) ;  Delete the phrase "Participating Government " and
substitute therefor ;     " Contracting Party".
     Paragraph 3 s     Delete the phrase " Participating Government " and substitute
therefor ;    " Contracting Party".                                    ....             ;
                                     Article 40
     Delete the phrase " Participating Governments" and substitute therefor ;
" Members " .
                                     Article 41
     Paragraph I s     Delete the paragraph and substitute therefors
     " Any Contracting Party which withdraws from , and any Member whose participation
is suspended in , the Agreement as. amended , 1973 > during the period of application
of the Agreement must discharge all the obligations as regards , contributions to
the Council and respect any commitments undertaken- before the effective date of .
withdrawal from, or suspension of' participation in , the Agreement as amended , 1973 «"
     Paragraph 2 ;     Delete the phrase " Participating Government " and substitute
therefor :    " Contracting Party".                           ,               .
     Add after " Agreement " the phrase " as amended , 1973" •
CHAPTER XV       TERRITORIAL APPLICATION                                    "       1
                                     Article 42        .,            _
                                             ..         - I-, , . .• • '        • 1   '   kJ
     Delete this chapter , consisting of Article 42 , paragraphs 1 , 2 and 3 *
 ---pagebreak---                                                                               td/olive OIL. 5/6
                                                                              page 21
                                       ANNEX A         "
     Delete the title and substitute therefors " DESIGNATIONS AND DEFINITIONS OF
OLIVE OILS AND OLIVE-RESIDUE OILS1' .                                                                     ^
     Paragraph 1 ; After the words "olive oils produce#' ,, insert , the word " solely"
     Delete the words' "types' of" oils * or' oils extracted . in . a . different manner" < and
substitute therefor thé' wôrà' " ôiis ," .                       • ' . "!
                                                                    *                .          i- '
                                                   *           *
                                    . -ANNEX B •                          ' •                 . lV.
     Delete the list of countries and their co-effi'Ci'enfsf 'and replace by the. .
following !                                            :"'                    •
                    Algeria                                         1.47
                    Arab    Republic of Egypt ...                  O.iy .            «•<
                    Argent inà'                                    2.07
                    Greece                                         5 • 77         . ,,,  "     ■ 'i-'.....
                    Israel                                         0.17
                    Italy                                         33*67            •; •-             i
                    Lebanon                                    ' 0.47
                    Morocco                                         1.61
                    Porlvugcil                •••••••«              3 « 07
                    Spain                                    ' :'3'7.'07
                    Syrian- Arab -Republic?                         0.82
                r..                         •••«••••••            10.07
                    Turkey- v..v#v.v. v.'.                ..        3.57                     " -
                                     Tôt ai      ; ". ; ;     iôô.ôo
 ---pagebreak--- TD/OLIVE ;OIL.5/6
page 22
                                          ANTIEX C
                       " .1 * τ·,· ·   ,
      Delete the contents of the Annex and replace by the following !
Mainly producing Members
                                                                                v
      Algeria                                                                          y 2J,
      Arab    Republic of Egypt                                                ......       5
      Argent ina                             »                                             21
     European Economic Community ?
           - Italy                                                                        450
      Greece                                                                              187
     .Israel                                                                                8
     Lebanon ........                                      ...»                            12
     Morocco                                                                               42
     Portugal                                                                              78
      Spain                                                                               450
      Syrian Arab Republic                              ..................                 28
     Tunisia                              ......................                           88
     Turkey ......................                          ................ #            104
Mainly importing Members             "           v            r • • .. .• ..
     Dominican Republic                                                                     5
     European Economic Community :                      ...... . . ,
          - Belgium/Luxembourg                 . v. ...                              .      5
          - Dènmark                  '   V.V.v.v.v.-.v                               .      5
          - Federal Republic of Geiuraaiy                                                   8
          - France •                                            .........                  25
          - Ireland                                                    ... ......... .      5
          - Netherlands                                                                     5
          - United Kingdom                 n m * . ......................                   8
     Gabon                                                                                5
     Libyan Arab Republic                                           .............          28
     Uruguay                                                                                5
                                          AMEX D
                                          Delete .
 ---pagebreak---                                                                            TD/ÔLIVE OÏL . 5/6
                                                                           page 23
                                     ARTICLE 3              ->■ :"r "
       1 . Any Government which is a member of the United 'Nations Conference on
 Trade and Development may become - a Party to this Protobol in accordance with
 its constitutional or institutional procedures ?            ■1
       ( a) by signing it ; or
      (b ) by ratifying , accepting or approving it after having signed it subject
             to ratification , acceptance or approval ;    or
      ( c ) by acceding to it . .                                                  '
      2.    Each signatory Government;, shall , on signing this Protocol 3t ate whether ,
 according to its constitutional or institutional procedures,' its signature is ,
or is not , subject to ratification , . acceptance ox*- approval .
                       .. .          ARTICLE 4    ■
                                                                                J
      This Protocol shall be open in Madrid with the Government of Spain , the .
depositary Government of the Agreement and of this Protocol , until 3*5 October ,
1973 . inclusive , for signature by any Government whioh is on that date a party
to the Agreement ,                                    •              , '
      In cases where ratification , acceptance or approval is required , the appropriate
instrument shall be deposited with the depositary Government of the Agreement not
later than 31 December 1973 , on the Understanding that' the Council may grant an .
extension or extensions of this time to any signatory Government which has not
deposited the said instrument' by this date .                      '          •                  ;
                                     ARTICLE 6
      Any non-signatory Government entitled to accede to . this Protocol under
Article 9 > ®ay notify the depositary Government that . it is undertaking to
satisfy the constitutional or institutional procedures required to accede to-
this Protocol as rapidly as possible .                                                        .;
          M                     '    ARTICLE 7          ^L               :■ •
      1 . Any signatory Government which has not been able to deposit its instrument
of ratification , acceptance or approval by 31 December 1973 and has been granted
an extension of time under Article 5 of this Protocol and any non-signatory Govern
ment which has made a notification pursuant to Article 6 of this Protocol may
indicate to the depositary Government that it will provisionally apply the Agree
ment as amended by this Protocol .
 ---pagebreak---    TD/ OLIVE OIL.5/6
   page 24
         2 . During the entire period when , the Agreement as amended by this Protocol
   is in force , either definitively or provisionally , a signatory Government which
   has been granted an extension of time under Article 5       this Protocol pr a non-
   signatory Government which has given an indication under paragraph 1 of this
  Article shall "be a provisional Member with all the rights and duties of a Member
  until that Government becomes a Contracting Party .
                                     ARTICLE 8
         1 . This Protocol shall enter definitively into force on 1 January 1974 > or
  on any date within the following twelve months , between the Governments which,
  have signed it , and, in cases where their constitutional or institutional procedures
   so require , have ratified , accepted or approved it , or have acceded to it', if these
  Governments include those of six mainly producing countries , together accounting
  for at least 60 per cent of worldwide olive oil production during the reference
  period stipulated in Article 3 of this Agreement , as well as those of three
  mainly importing countries . If this Protocol has not definitively entered into .
  force in accordance with the preceding sentence , it shall do so at any time after
  it is provisionally in force when the numerical and production percentage require
  ments of this paragraph are satisfied by the deposit of instruments of ratification ,
  acceptance , approval or accession .
         2 . This Protocol shall enter provisionally into force on 1 January 1974 or'
  on any date within the following twelve months , between the Governments which have
  signed it and , in cases where their constitutional or institutional procedures so
  require , have ratified , accepted or approved it , or have acceded to it , or have
  indicated that they will apply it provisionally , if these Governments include
. those of six mainly producing countries together accounting for at least 60 per
  cent of worldwide olive oil production during the reference period stipulated in
  Article 3 of the Agreement , as well as those of three mainly importing countries .
         3 . If by 1 January 1974 this Protocol has not entered into force either
  provisionally or definitively in the manner described in paragraphs 1 and 2 of
  this Article , but has received a sufficient number of signatures to enable it
  to enter into force after ratification , acceptance or approval in conformity
  with the relevant provisions of this Protocol , then the Agreement shall , in
  accordance with paragraph 4 of Article 37 j continue in force beyond 1 January
  1974 until the date of the provisional or definitive entry into force of this
  Protocol , provided that the period of such extension shall not exceed twelve
  months .
 ---pagebreak---                                                                     td/olive OIL* 5/6
                                                                    page 25
      4 « If by 30 October 1973 "this Protocol has not received a number of signatures
sufficient for it to enter into force after ratification , acceptance or approval ,
the Governments which have signed it and , where their constitutional or institutional
procedures ^o require , have ratified, accepted, approved,or acceded to the said :
Protocol or have stated that they will apply it provisionally , may decide by           v
common .agreement that this Protocol shall enter into force among themselves , or
may take whatever other action they consider is required by the circumstances .
                                     ARTICLE 9
      1.  This Protocol shall be open for accession by any non-signatory Government
which is a member of the United Nations Conference on Trade and Development .
      2 . Accessionto this Protocol - shall be deemed to be accession to thd Agree
ment as amended , 1973 •                                                              •
      3 . Accession shall be effected by the deposit of an instrument of accession
with the depositary Government of the Agreement and shall take effect from the.
date of deposit of such instrument or on the date of entry into force , of this
Protocol , whichever date- is the ' later .                               •
                                                , ' , •< !
                               .'      v '  1 '
                               '    ARTICLE 10 '
      If by 31 December 1978 a new agreement to extend        or renew the Agreement as
continued in force by this Protocol has been negotiated and has received a
sufficient number of signatures to enable it to enter into force after ratification ,
acceptance or approval in conformity with the relevant provisions .of the Agreement
and if that new agreement has not entered into force , either provisionally or
definitively , the present Protocol ' shall continue in force beyond 31- December : .
1978 until the entry into force of the new agreement , provided that the period
of such extension shall not exceed twelve months .
                                  ■ ARTICLE 1I;"   vv      ■"
      1 . Any Government may , upon signature , or upon deposit of its instrument of
ratification , acceptance or approval of this Protocol , or upon accession theretoj
declare by notice addressed to the depositary Government that the Agreement as
amended , 1973 > shall extend to any of the territories for whose international
relations that Government is for the time being . ultimately responsible . The said
Agreement shall extend to the territories named in th6 notification from the date
of such notification or from the date on which the present Protocol enters into
force for that Government , whichever is the later .
 ---pagebreak--- TD/OLIVE OIL . 5/6
page 26
       2 . Any Contracting Party which has made a declaration pursuant to paragraph 1
of this Article may at any later time , by notification to the depositary Government ,
declare that the Agreement as amended , 1973 , shall cease to extend to the territory
named in the notification and the said Agreement shall cease to extend to such
territory from the date of such notification .
       3 . When a territory to which the Agreement as amended , 1973 , has been
extended under paragraph 1 of this Article subsequently attains independence ,
its Government may , within 90 days after the attainment of independence , declare
by notification to the depositary Government that it has assumed the rights and
obligations of a Contracting Party to the Agreement as amended , 1973 . It shall
become a Contracting Party to the said Agreement from the date of such notifi
cation .                                                                           ,
                                    ARTICLE 12
       The depositary Government of the Agreement shall without delay inform the
signatory and acceding Governments of any signature , ratification , acceptance
or approval of , or accession to , this Protocol , ( of any notification and any
indication made under Articles 6 and 7 of this Protocol , and of the date of
entry into force of this Protocol .
     • The European Economic Community shall    have the same rights and powers as
the Governments referred to in the present Protocol ^ including those referred • . ■ •
to in Articles 3 and 9 thereof .
       IN WITNESS WHEREOF , the undersigned , having been duly authorized to this
effect by their respective Governments , have signed this Protocol on the dates
appearing opposite their signatures .
       The texts of the present Protocol in the Arabic , English , French , Italian
and Spanish languages shall all be equally authentic , the originals being deposited
with the Government of Spain which shall furnish certified true copies thereof to
all Governments that have signed or acceded to this Protocol .
       DONE at Geneva , on 23 March 1973 •
 ---pagebreak---                    .   RESOLUTION FINALE ADOPTEE PAR LA CONFERENCE
                     A SA DEUXIEME SEANCE PLENTERE , LE 23 MARS 1973
       La Conférence clos Mations Unies sur l' huile d' olive » 1973 >
       S 'étant réunie à. Gcnbve du 19 au 23 mar3 1973 j .
       Exprimant sa gratitude au Secrétaire général de la CNUCED pour los moyens .
 matériels et les services qu' il a mis , au nom du - Secrétaire général do l' Organi
 sation dos Nations Unies , à la disposition de la Conférence ,
       Rendant hommàge au Président et aux autres membres du Bureau do . la Conférence
pour le talent et l' impartialité, dont ils ont fait preuve , et félicitant le secré
 tariat de sa compétenco et de son ardeur au travail ,
       Ayant établi le texto du Protocole portant nouvelle reconduction do l' Accord
 international sur l' huile d' olive , 19^3 » avec amendements audit Accord, en anglais ,
en arabe , en espagnol , en français et en italien,
       1.    Décide que los textes en langue anglai&e , arabe , espagnole , française
et italienne du Protocolo du 23 mars 1973 portant nouvelle reconduction do
l' Accord international sur l' huile d' olive , 1963 » ".voc anendemonta FAi'lit Accord,
feront également foi ;
       2 ..  Demande que ces textes , authentifiés par la signature du Secrétaire
de la Conférence , soient transmis au Gouvernement do l' Espagne , Gouvernement
dépositaire de l' Accord;
       3»    Prie le Gouvernement dépositaire de transmettre des copies certifiées
conformes de ces textes à, tous les Gouvernomonts invités à. la Conférence , ainsi
qu' à, la Communauté économique européenne ;
       4.    Prie le Gouvernement dépositaire de prendre les dispositions nécessaires
pour que le Protocole du 23 mars 1973 scit ouvert à Madrid, à. la signature jusqu' au
30 octobre 1973 inclus de tout Gouvernement qui , à cette date , est Partie h.
l' Accord , ainsi qu' à, l' adhésion de tout Gouvernement non signataire nombre de la
CNUCED et soit enregistré , dbs son entree on vigueur , auprbs du Secrétaire général
de l' Organisation des Nations Unies , conformément à, l' Article 102 de la Charte
des Nations Unios , étant précise que la mention "Gouvernement Partio à, l' Accord"
et "Gouvernement non signataire " est réputée valoir pour la Communauté économique
européenne ;                                         ,
       5*   Appelle l' attention des Gouvernements et de la Communauté économique
européenne sur la procédure d' entre© en vigueur mentionnée à l' Article 8 du
Protocolo . .
   ι


title: Recommendation for a COUNCIL DECISION concerning the Community position to be adopted in discussions on the development of international accounting and reporting standards within the United Nations Organization (submitted to the Council by the Commission)

text:
ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (82) 877
Vol. 1982/0268
 ---pagebreak--- Disclaimer
Conformément au règlement (CEE, Euratom) n° 354/83 du Conseil du 1er février 1983
concernant l'ouverture au public des archives historiques de la Communauté économique
européenne et de la Communauté européenne de l'énergie atomique (JO L 43 du 15.2.1983,
p. 1), tel que modifié par le règlement (CE, Euratom) n° 1700/2003 du 22 septembre 2003
(JO L 243 du 27.9.2003, p. 1), ce dossier est ouvert au public. Le cas échéant, les documents
classifiés présents dans ce dossier ont été déclassifiés conformément à l'article 5 dudit
règlement.
In accordance with Council Regulation (EEC, Euratom) No 354/83 of 1 February 1983
concerning the opening to the public of the historical archives of the European Economic
Community and the European Atomic Energy Community (OJ L 43, 15.2.1983, p. 1), as
amended by Regulation (EC, Euratom) No 1700/2003 of 22 September 2003 (OJ L 243,
27.9.2003, p. 1), this file is open to the public. Where necessary, classified documents in this
file have been declassified in conformity with Article 5 of the aforementioned regulation.
In Übereinstimmung mit der Verordnung (EWG, Euratom) Nr. 354/83 des Rates vom 1.
Februar 1983 über die Freigabe der historischen Archive der Europäischen
Wirtschaftsgemeinschaft und der Europäischen Atomgemeinschaft (ABI. L 43 vom 15.2.1983,
S. 1), geändert durch die Verordnung (EG, Euratom) Nr. 1700/2003 vom 22. September 2003
(ABI. L 243 vom 27.9.2003, S. 1), ist diese Datei der Öffentlichkeit zugänglich. Soweit
erforderlich, wurden die Verschlusssachen in dieser Datei in Übereinstimmung mit Artikel 5
der genannten Verordnung freigegeben.
 ---pagebreak--- COMMISSION OF THE EUROPEAN COMMUNITIES
                                                     COM ( 82 ) 877 final
                                                     Brussels , 6 January 1983
                              Recommendation for a
                                COUNCIL DECISION
  concerning the Community position to be adopted in discussions on the
  development of international accounting and reporting standards within
                        the United Nations Organization
                               f //      -k-,      p l
                 ( submitted to the Council by the Commission )
 COM ( 82 ) 877 final
 ---pagebreak---                           Explanatory Memorandum
A new UN intergovernmental expert working group on international
standards of accounting and reporting
       1 . The Economic and Social Council (ECOSOC ) of the United
Nations Organization (UN) adopted a resolution in October 1982
setting up an intergovernmental expert working group (l ). Its terms
of reference concern questions of accounting and reporting
primarily by multinational enterprises or , in UN language , trans
national corporations . The group will commence work in February
1983 in New York . Certain Member States have been elected as
members of the new group : Prance , Federal Republic    of Germany ,
Italy , Netherlands , United Kingdom . The group is to meet for one
period of two weeks each year in New York and to report annually
to the UN Commission on Transnational Corporations on measures
to be taken in the field of international accounting and reporting
with a view to realizing the long term objective of international
harmonization of accounting and reporting . The group will meet
for a period of three years after which the UN Commission will
review its work and its mandate , with a view to deciding whether
its continuation is desirable .
        2 . The creation of the new group follows the recommendation
of the ad hoc intergovernmental expert working group on international
 standards of accounting and reporting that made its final report to
the UN Commission during 1982 (2 ). The same Community Member States
were members of the ad hoc group and the Commission representatives
 co-ordinated and presented the position of the Ccmmunity in accordance
with the Council 's decision of 26 October 1979 (})•
 (1 ) Resolution 1 982/67 of 27 October 1982 .
 ( 2) Report of the Ad Hoc Intergovernmental Working Group of
      Exoerts on International Standards of Accounting and Reporting ,
      E/c 10/1932/8 , 24 May 1982 .
 (3 ) Council document , 10096/79 «
 ---pagebreak---                                   -  /
Relationship bet . een proceedings of UN group and Community
legi si at ion on amounting and reporting
          3 . Transnational corporations almost always operate
as groups of companies . Their accounting and reporting is
based on the legal requirements applying to companies ,
whether as oarent or subsidiary undertakings . The European
Community has adopted a series of legislative measures
concerning accounting and reporting by companies (l ). Other
measures are currently in preparation , in particular the
proposed seventh directive on group accounts ( 2 ), currently
at a late stage in Council . Accordingly , the subject matter
of the discussions of the new UN group will for a large part
consist of issues covered by Community measures on accounting
and reporting as was the case in the previous group .
Procedures concerning Community position to be adopted in new group
          4 . The Commission therefore recommends to the Council that ,
 on the basis of decision of the Court of Justice of the European
Communities in the AETR case ( 3 ) and following the precedent set
 in 1979 as regards the UN 's ad hoc intergovernmental expert working
group that has recently completed its mandate , the procedures
 specified in the attached decision be adopted concerning the
 Community position to be presented during the proceedings of the
 successor group recently created .
  (1 ) In particular the first and fourth company law directives ,
        see OJ L 6 5 of 14 March 1963 , p. 8 and OJ L 222 of 14 August 1978 ,
        p. 11 .
  ( 2 ) OJ C 14/2 of January 1979 > P » 2 . Note also proposal for a
        directive on the annual accounts of banks currently before
        the European Parliament , OJ C 130 of 1 June 1931 , p. 1 .
  ( 3 ) Case 22/70 , judgement of 31 March 1971 *
 ---pagebreak---                               Recommendation for a
                                COUNCIL DECISION
    concerning the Community position to be adopted in discussions on the
    development of international accounting and reporting standards within
   the United Nations Organization .
   THE COUNCIL OP THE EUROPEAN COMMUNITIES ,
   Having regard to the Treaty establishing the European Ecancraic Community,
   Having regard to the Recommendation from the Commission,
   Whereas a decision should be taken on the Community position to be adopted
   in the discussions on the development of international accounting and
   reporting standards within the United Nations Organisation,
   HAS DECIDED AS FOLLOWS:
                                 Sole Artide
1*        Soring "the discussions of the intergovernmental Working Group
   of Experts oa international accounting and reporting standards, set up
   in October 1982 by the Economic and Social Council of the United
   Nations , the Commission shall express the Community 's position insofar
   as those discussi one relate to subjects covered by common rules .
          The CoaaaisBion shall act in consultation with the representatives
   of the Member States .
2.        The Commission shall    ensure   that the proposals which it has
   submitted to the Council for a more thorough harg-ni zation of accounting
   and reporting law are presented in such a way during the discussions of
   the Working Group referred to in paragraph 1 that they clearly show the
   importance which the Community attaches to such harmonization .
3.        The Member States and the Commission shall coordinate their
   positions with a view to reaching a common position in the nestings of
   the Working Group referred to in paragraph 1 , in particular on the
   question of what further steps should be taken i.r» the fisld o? inter
   national accounting and reporting standards in ti     coat art of the
   proceedings of the United Nations Commission cn T :- iiiSi..atiana.l Corporations .
 Done at                                                     For the Council


               EUROPEAN COMMISSION
            Brussels, 27.7.2016
            COM(2016) 517 final
            Recommendation for a
            COUNCIL IMPLEMENTING DECISIONimposing a fine on Spain for failure to take effective action to address an excessive deficit

               Recommendation for a

               COUNCIL IMPLEMENTING DECISION

               imposing a fine on Spain for failure to take effective action to address an excessive deficit

               THE COUNCIL OF THE EUROPEAN UNION,

               Having regard to the Treaty on the Functioning of the European Union,

               Having regard to Regulation (EU) No 1173/2011 of the European Parliament and of the Council of 16 November 2011 on the effective enforcement of budgetary surveillance in the euro area, and in particular Article 6 thereof,

               Whereas,

               (1)The Council, by decision adopted on 12 July 2016 established that no effective action has been taken by Spain to correct the excessive deficit in response to the Council Recommendation of 21 June 2013 under Article 126(7) of the Treaty.

               (2)Following the Council's decision under Article 126(8) of the Treaty that Spain has not taken effective action to correct the excessive deficit, the Commission should recommend the Council to impose a fine.

               (3)The fine to be imposed on Spain should in principle amount to 0.2% of its GDP in the preceding year, but its amount may be reduced or cancelled on grounds of exceptional economic circumstances or following a reasoned request by the Member State concerned.

               (4)The GDP of Spain in 2015 was EUR 1081.19 billion. 0.2% of that GDP corresponds to EUR 2162.38 million.

               (5)In accordance with Article 2(3) of Regulation (EU) No 1173/2011, ‘exceptional economic circumstances’ means circumstances where an excess of a government deficit over the reference value is considered exceptional within the meaning of the second indent of point (a) of Article 126(2) TFEU, as specified in Regulation (EC) No 1467/97. According to the latter Regulation, such an excess is exceptional when it results (i) from an unusual event outside the control of the Member State concerned and with a major impact on the financial position of general government or (ii) from a severe economic downturn, meaning a negative annual GDP volume growth rate or an accumulated loss of output during a protracted period of very low annual GDP volume growth relative to its potential..

               (6)An evaluation of the application of the above-mentioned conditions to Spain yields the following conclusions:

               Following ten consecutive quarters of negative real GDP growth, economic growth in Spain resumed in the third quarter of 2013. Real GDP growth reached 1.4% in 2014 and accelerated to 3.2% in 2015. According to the updated Commission 2016 spring forecast, real GDP growth is expected to reach 2.9% in 2016. This is an upwards revision of 0.3 pp. compared to the Commission 2016 spring forecast, driven by higher-than-expected public and private consumption in the first quarter of the year. Consequently, there has not been a severe economic downturn over the period covered by the 21 June 2013 Council Recommendation (i.e. 2013-2016).

               Moreover, no unusual events outside the control of the government, with major impact on public finances over 2013-2016, took place. Even though Spanish inflation surprised on the low side and was even negative in 2014, its impact on the public finances was not major as it was largely offset by higher-than-expected real GDP growth, with fast job creation and a tax-rich composition of growth benefitting the deficit reduction.

               (7)Therefore, exceptional economic circumstances that would warrant a reduction of the amount of the fine do not exist.

               (8)On 13 July 2016, Spain submitted a reasoned request to the Commission to recommend that the Council set the amount of the fine to zero. In support of its request, Spain gave the following reasons:

               (9)Spain recalls its important achievements in implementing a far-reaching reform agenda, despite a very challenging economic context, that proved decisive in supporting the strong rebound of economic activity and job creation, as well as the correction of accumulated imbalances. It also highlights the significant fiscal effort implemented in the wake of the crisis and the negative impact of low and even negative inflation on the fiscal adjustment process and the economy as a whole. Methodological issues are also raised, concerning the alleged inability of the current methodology to assess SGP compliance to take account of negative inflation surprises or to accurately measure potential GDP growth in the case of Spain. Finally, it reports on measures and commitments taken to reduce the public deficit in 2016 and reaffirms the commitment to correct the excessive deficit by 2017.

               (10)An assessment of the abovementioned arguments leads to the considerations below.

               (11)The Spanish economy has experienced a significant turnaround in recent years, also thanks to reforms undertaken in a challenging economic environment that helped ease existing rigidities in labour and product markets. The successful completion of the financial assistance programme for the recapitalisation of financial institutions in Spain in early 2014 and the major structural reforms that have been carried out alongside created a sound basis for the economic recovery. Also after the completion of the programme, Spain continued to implement structural reforms, including a reform of the insolvency framework, the completion of the banking sector restructuring, the public administration reform and the creation of an independent fiscal council. Helped by monetary policy and a reinforced euro area governance framework, this paved the way for a return of capital inflows and improved financial conditions. As growth resumed in the second half of 2013, internal and external rebalancing advanced, also supported by reform-induced competitiveness gains. The recovery is accompanied by strong job creation, supported by continued wage moderation and the impact of labour market reforms. Notwithstanding the progress in rebalancing the economy, important challenges remain, as still high private and public debt reflected in the very high level of net external liabilities exposes the country to risks stemming from shifts in market sentiment, and still high unemployment hampers economic adjustment.

               (12)While Spain did not take effective action to address the excessive deficit in compliance with the Council's recommendation of 21 June 2013, it should be acknowledged that Spain had already delivered sizeable fiscal efforts to correct its excessive in the budgets for 2012 and to a lesser extent 2013. The consolidation fatigue highlighted by the Council decision of 12 July 2016 followed this substantial fiscal structural effort and occurred after difficult economic conditions that impinged on social cohesion. Indeed, notwithstanding the strong rebound of the economy since the third quarter of 2013, Spain kept experiencing unfavourable economic conditions during the period covered by the last Council recommendation. The output gap reached −8.5% of potential GDP in 2013 and, while improving fast, it was still largely negative, at −4.0%, in 2015. The unemployment rate peaked at 26.1% in 2013 and social exclusion and inequality worsened in the wake of the crisis, bringing the overall share of people at risk of poverty or social exclusion to 29.2 % in 2014, one of the highest rates in the EU.

               (13)In this context, while some of the measures taken in recent years had a negative direct impact on the public finances, they may contribute to growth and employment in the medium to long term, and in turn to the sustainability of public finances. Social security contributions exemptions and rebates contributed to the persistent general government deficit, but to some extent supported social cohesion by targeting lower income earners, less qualified workers and new permanent contracts. The tax reforms adopted in late 2014, while being under-funded, are aimed at making the tax structure more growth-friendly as well as improving tax governance and equity.

               (14)For 2016, the Spanish government, in its caretaker position, has taken deficit-reducing measures following the Commission Recommendation of 9 March 2016 regarding measures to be taken by Spain in order to ensure a timely correction of its excessive deficit, which is welcome. In particular, with a view to implementing provisions in domestic legislation to enforce fiscal discipline on regional governments, on 6 April, the government required 12 regional governments to approve cuts in budget appropriations to ensure compliance with their deficit targets for 2016. While the expenditure cuts for 2016 adopted to date by those governments are considerably below the expected amount reported in the 2016 Stability Programme, Spain's central government has approved around 0.2% of GDP cuts to budgetary appropriations. On 13 July, the Spanish caretaker government announced its commitment to put in place further welcome deficit-reducing measures. On the revenue side, amendments to the corporate income tax law, to be adopted as soon as a new government is formed, have been envisaged to make up for the loss in revenues of around 0.5% of GDP expected for 2016 following the changes made to the regulation of instalment payments (pagos fraccionados) of the corporate income tax, so as to ensure that corporate income tax revenues reach the level expected in the 2016 Stability Programme. On the expenditure side, the advancing of the date of closure of the central government's fiscal year, adopted on 14 July, can help contain expenditure developments in the second half of 2016. Nevertheless, these measures are still subject to considerable implementation risks, in particular with respect to the timely adoption by Parliament of required changes to the corporate income tax law and whether they will be sufficient to offset the expected shortfall in corporate income tax revenues. The government has also committed to take further measures against tax fraud.

               (15)Spain's reasoned request to the Commission also highlights the negative impact of low and even negative inflation on the fiscal adjustment process and the economy as a whole. As also argued in the Council Decision of 12 July 2016, over 2013-2015, Spanish inflation (as measured by the GDP deflator) was indeed well below that in the baseline macroeconomic scenario underpinning the recommendation (it was even negative in 2014, at −0.4%). However, the negative impact of low or even negative inflation on Spain's fiscal outcomes was largely offset by higher-than-expected real GDP growth.

               (16)Spain also puts forward methodological issues concerning the alleged inability of the current effective action methodology to take account of negative inflation surprises or to accurately measure potential GDP growth in the case of Spain. Concerning the possible underestimation of the structural effort carried out in Spain, it must be borne in mind that, in estimating potential growth, the Commission applies the commonly agreed production function methodology, endorsed by the Council. As regards the impact the impact of negative inflation, the Commission acknowledges in its analytical work that the methodology agreed for fiscal surveillance – and based on the correction of headline balance figures by means of potential output estimates – can, in the presence of a negative inflation shock, lead to the underestimation of the structural effort. However, this approach is complemented by a so-called bottom-up measure of the fiscal effort, which assesses whether expenditure targets have been met and the planned discretionary measures on the revenue side have been implemented. Contrary to the change in the structural balance, this bottom-up measure will likely be over-estimating the fiscal effort following a disinflation shock. In the case of Spain, also the use of such bottom-up methodology shows that no cumulated effort was delivered over 2013-2015, against the recommended cumulative structural effort of 3.0% of GDP.

               (17)In view of Spain's reasoned request and having regard of the previous points, notably the deep structural reforms undertaken by the Spanish government since 2012 and still in place, the challenging economic environment during the period covered by the June 2013 Council recommendation, the deficit-reducing commitments announced by the Spanish caretaker government in its reasoned request, along with the consolidation measures put in place following the Commission Recommendation of 9 March 2016 regarding measures to be taken by Spain in order to ensure a timely correction of its excessive deficit, a cancellation of the fine of 0.2% of GDP is considered warranted.

               HAS ADOPTED THIS DECISION:

               Article 1

               The fine of 0.2% of GDP to be imposed on Spain for failure to take effective action in response to the Council recommendation of 21 June 2013 is cancelled.

               Article 2

               This decision is addressed to the Kingdom of Spain.

               Done at Brussels,

                  For the Council

                  The President