TNAG-0424-FCO40-470-Construction-of-an-underground-railway-system-in-Hong-Kong-1973 — Page 169

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EUROPEAN COMMUNITIES

The Comcil

COUNCIL DECISION

of 16 December 1970

Brussels. 1 August 1-72

D.D. 992/72 (8 597)

CA 12.00

w/i

185

on the rules applicable, in the fields of export guarantees and finance for export, to certain sub-contracting in other member countries of the European Communities or in non-member countries

(70/552/EEC)

OJ. No I. 284 - 30.12.70

P. 59

THE COUNCIL OF THE EUROPEAN COMMUNITIES,

HAVING RESARD to

the Treaty eate busting the Emcpean Econcmc

Pitiría 103 Community, and in particular bones) setting up a

Policy Coordination Group Tor Credit Insurance, Credit Guarantees and Financial Credits;

HAVING REGARD to the first report of the Policy Coordination Group for Credit Insurance, Credit Guarantees and Financial Credits, approved by the Council at its meeting of 14/15 May 1962;

HAVING REGARD to the principles approved by the Council relating to automatic inclusion of sub-contracts with parties in other member countries of the

in the cover which may be European Communities or in non-member countries, granted to the principal contractor;

HAVING REGARD to the proposal from the Commission;

WHEREAS, after the tranzitional period has ended, the common export policy is to be based on uniform principles; whereas this Decision. will,

consequently, only apply to relations with third countries;

MIEREAS it is necessary to specify the conditions and procedure for application of those principles;

HAS DECIDED AS FOLLOWS:

Article 1

The rules applicable in eac

Member State to the automatic inclusion,

of sub-contracts with parties in other member countries of the European Communities or in non-membe the principal contracter, art to this Decision.

Article 2

countries in the cover which may be granted to defined in the provisions set out in the Annex

Those provisions shall apply to the sub-contracting, fescribed in that Annex and relating to export Trans: tions concluded on the basis of privately guaranteed credita. They sha I also apply, as regaris Sections 1, 11 and IV,

(1) OJ No 66, 17 October 1961

P 13,9/60

D.D. 992/72 (E 557)