Legal provisions of COM(2003)29 - Amendment of Directive 78/660/EEC as regards amounts expressed in euro

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dossier COM(2003)29 - Amendment of Directive 78/660/EEC as regards amounts expressed in euro.
document COM(2003)29 EN
date May 13, 2003


Contents

Article 1

Directive 78/660/EEC is hereby amended as follows:

1. in Article 11:

(a) the first paragraph shall be amended as follows:

(i) in the first indent the words 'balance sheet total: EUR 3125000' shall be replaced by the words 'balance sheet total: EUR 3650000';

(ii) in the second indent the words 'net turnover: EUR 6250000' shall be replaced by the words 'net turnover: EUR 7300000';

(b) the following paragraph shall be inserted:"In the case of those Member States which have not adopted the euro, the amount in national currency equivalent to the amounts specified in the first paragraph shall be that obtained by applying the exchange rate published in the Official Journal of the European Union on the date of the entry into force of the Directive setting those amounts in consequence of the review provided for in Article 53(2).";

2. in Article 27:

(a) the first paragraph shall be amended as follows:

(i) in the first indent the words 'balance sheet total: EUR 12500000' shall be replaced by the words 'balance sheet total: EUR 14600000';

(ii) in the second indent the words 'net turnover: EUR 25000000' shall be replaced by the words 'net turnover: EUR 29200000';

(b) the following paragraph shall be inserted:"In the case of those Member States which have not adopted the euro, the amount in national currency equivalent to the amounts specified in the first paragraph shall be that obtained by applying the exchange rate published in the Official Journal of the European Union on the date of the entry into force of the Directive setting those amounts in consequence of the review provided for in Article 53(2)."

Article 2

1. Member States shall adopt the measures necessary to comply with this Directive if and when they decide to make use of the option provided for in Articles 11 and 27 of Directive 78/660/EEC. They shall forthwith inform the Commission thereof.

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

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

Article 3

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

Article 4

This Directive is addressed to the Member States.