Legal provisions of COM(1998)724 - Amendment of Directive 78/660/EEC as regards the revision of amounts expressed in ecus

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dossier COM(1998)724 - Amendment of Directive 78/660/EEC as regards the revision of amounts expressed in ecus.
document COM(1998)724 EN
date June 17, 1999


Contents

Article 1

1. Article 11 of Directive 78/660/EEC is hereby amended as follows:

- in the first indent 'balance sheet total: ECU 2500000' shall be replaced by 'balance sheet total: EUR 3125000';

- in the second indent 'net turnover: ECU 5000000' shall be replaced by 'net turnover: EUR 6250000';

2. Article 27 of Directive 78/660/EEC is hereby amended as follows:

- in the first indent 'balance sheet total: ECU 10000000' shall be replaced by 'balance sheet total: EUR 12500000';

- in the second indent 'net turnover: ECU 20000000' shall be replaced by 'net turnover: EUR 25000000';

3. The revision of the amonts referred to in paragraphs 1 and 2 shall constitute the fourth five-yearly revision provided for in Article 53(2) of Directive 78/660/EEC.

Article 2

For Member States not adopting the euro, the equivalent amount in national currency shall be that obtained by applying the exchange rate published in the Official Journal of the European Communities published on 4 January 1999.

Article 3

1. Those Member States which intend to make use of the option provided for in Articles 11 and 27 of Directive 78/660/EEC, as amended by this Directive, shall bring into force the measures necessary for them to comply with this Directive at any time after its publication. They shall forthwith inform the Commission thereof.

2. When Member States adopt these measures, they shall contain a reference to this Directive or shall be accompanied by such reference on the occasion of their official publication. The methods of making such reference shall be laid down by Member States.

3. Member States shall communicate to the Commission the texts of the main provisions of national law which they adopt in the field governed by this Directive.

Article 4

This Directive shall enter into force on the date of its publication in the Official Journal of the European Communities.

Article 5

This Directive is addressed to the Member States.