5.3.77 Official Journal of the European Communities No L 61/1 (Acts whose publication is obligatory) COUNCIL REGULATION (EEC) No 425/77 of 14 February 1977 amending Regulation (EEC) No 805/68 on the common organization of the market in beef and veal and adapting Regulation (EEC) No 827/68, and Regulation (EEC) No 950/68 on the Common Customs Tariff THE COUNCIL OF THE EUROPEAN COMMUNITIES, Having regand ®o the Treaty establishing the European Economic Community, -and in particular Article 43 thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the European Parliament (1), Having regard to the opinion of the Economic and Social Committee (2), Whereas Council Regulation (EEC) No 805/68 of 27 June 1968 on the common organization of the market in beef and veal (3), as last amended by Regulation (EEC) No 568/76 (4), entails a price and trading system intended in particular to stabilize markets and to ensure a fair standand of living for the agrioculltural community concerned; Whereas the situation on the beef and veal market has been characterized in recent years by a shortage, aocompanied by a rise in prices inevitably affecting developments in the sphere of both consumption and (*) OJ No C 23, 8. 3. 1974, p. 37. (*) OJ No C 88, 26. 7. 1974, p. 10. () OJ No L 148, 28. 6. 1968, p. 24. (% O] No L 67, 15. 3. 1976, p. 28. production; whereas this situation thereafter degener- ated into a market price slump, made worse by massive imports; Whereas, therefore, the normal mechanisms of Regulation (EEC) No 805/68 have been unable to continue to operate with the desired effectiveness; whereas, therefore, it has been necessary for several years to invoke the exception rules applicable in the event of any marked rise or fall in prices and of any risk of serious disturbance due to imponts; Whereas the result of this expenience is that import arrangements must be adjusted to avoid a recunrence of similar situations; whereas this adjustment mwust apply particularly to the calculation of a basic levy for all the products subject to the levy system; whereas application of the levy must be adjusted upwards or idownwards in accordance with the relationship existing berween market prices in the Community and the guide prioe; Whereas certain special systems shoulld be adapted so that account 'may be taken in annual estimates of "both the supplies available to the Community and the Community’s needs; Whereas the distinction between «calves and adult bovine animals and between the meat obtained therefrom often proves difficult to establish, par- ticularly at the time of importation; whereas, there- fore, the trading system should be adjusted to eliminate this distinction and the guide price for calves should be abolishad;