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Document 11957E208

TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY, PART FIVE - INSTITUTIONS OF THE COMMUNITY, TITLE II - FINANCIAL PROVISIONS, ARTICLE 208

Legal status of the document In force

ELI: http://data.europa.eu/eli/treaty/teec/art_208/sign

11957E208

TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY, PART FIVE - INSTITUTIONS OF THE COMMUNITY, TITLE II - FINANCIAL PROVISIONS, ARTICLE 208


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Article 208

The Commission may , provided it notifies the competent authorities of the Member States concerned , transfer into the currency of one of the Member States its holdings in the currency of another Member State , to the extent necessary to enable them to be used for purposes which come within the scope of this Treaty . The Commission shall as far as possible avoid making such transfers if it possesses cash or liquid assets in the currencies which it needs .

The Commission shall deal with each Member State through the authority designated by the State concerned . In carrying out financial operations the Commission shall employ the services of the bank of issue of the Member State concerned or of any other financial institution approved by that State .

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