THE COUNCIL OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Economic Community,

Having regard to Council Regulation (EEC) No 170/83 of 25 January 1983 establishing a Community system for the conservation and management of fishery resources ( 1 ), as amended by the Act of Accession of Spain and Portugal, and in particular Article 11 of that Regulation,

Having regard to the poposal from the Commission,

Whereas catch possibilities for cod in the Spitsbergen and Bear Island area (ICES Division II b) and Division 3M of the Regulatory Area defined in the NAFO Convention should be allocated in order to ensure the rational management of the amounts available to the Community;

Whereas, in order to enable fishermen to organize their fishing on a stable basis, rules for the allocation of these catch possibilities should be adopted in the light of how stocks develop;

Whereas the allocation of the share of the cod stock available to the Community in the Spitsbergen and Bear Island area does not in any way prejudice the rights and obligations arising out of the 1920 Treaty of Paris,

HAS DECIDED AS FOLLOWS: