No L 196/16 Official Journal of the European Communities 24. 7. 97 COUNCIL REGULATION (EC) No 1421/97 of 22 July 1997 fixing the amounts of aid for seeds for the 1998/99 and 1999/2000 marketing THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, Having regard to Council Regulation (EEC) No 2358/71 of 26 October 1971 on the common organization of the market in seeds ('), and in particular Article 3 (3) thereof, Having regard to the proposal from the Commission (3), Having regard to the Opinion of the European Par- liament (%), Having regard to the Opinion of the Economic and Social Committee (%), Whereas the present situation and the outlook on the Community market for seeds listed in the Annex to Regulation (EEC) No 2358/81 that will be sold during the 1998/99 and 1999/2000 marketing years do not offer the assurance of a fair return to producers; whereas part of their costs should therefore be met by the granting of aid; Whereas Article 3 (2) of Regulation (EEC) No 2358/71 provides that the aid shall be fixed, taking into account, on the one hand, the need to ensure a balance between the volume of production required in the Community and the possible outlets for that production and, on the other hand, the prices of the products on external markets; Whereas the application of these provisions resuits in the fixing of the amounts of aid applicable for the 1998/99 and 1999/2000 marketing years at the levels set out in the Annex hereto, HAS ADOPTED THIS REGULATION: Article 1 For the 1998/99 and 1999/2000 marketing years the amounts of the aid granted for seeds referred to in Article 3 of Regulation (EEC) No 2358/71 shall be as set out in the Annex hereto. Article 2 This Regulation shall enter into force on 1 July 1998. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 22 July 1997. (") OJ No L 246, 5. 11. 1971, p. 1. Regulation as last amended by Regulation (EC) No 3290/94 (O] No L 349, 31. 12. 1994, p. 105). (» OJ No C 101, 27. 3. 1997, p. 25. () OJ No C 200, 30. 6. 1997. {*) Opinion delivered on 29 May 1997 (pot yet published in the Official Journal). For the Council The President F. BODEN