‘No L 363/58 Official Journal of the European Communities 31.12. 94 COUNCIL REGULATION (EC) No 3365/94 ' of 20 December 1994 allocating, for 1995, certain catch quotas between Member States for vessels fishing in Faroese waters ~ THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Com- munity, Having regard to Council Regulation (EEC) No 3760/92 of 20 December 1992 establishing a Community system for fisheries an aquaculture ('), and in particular Article 8 (4) thereof, Haviﬁg regérd to the proposal from the Commission, Whereas, in accordance with the procedure provided for in he Agreement on fisheries relations between the European Economic Community, of the one part, and the Government of Denmark and the Home Government of the Faroe Islands, of the other part (2) the two Parties have held consultations on their mutual fishing rights for 1995; s Whereas, as a result of these consultations, the two Parties have agreed on an arrangement for 1995 whereby cetain catch quotas are allocated to Community vessels in the Faroese fishing zone; Whereas, to ensure efficient management of the catch pos- sibilities available, they should be allocated among Member States as quotas in accordance with Article 8 of Regulation (EEC) No 3760/92; Whereas the fishing activities covered by this Regulation are subject to the relevant control measures provided for by Council Regulation (EEC) No 2847/93 of 12 October 1993 establishing a control system applicable to the common fish- eries policy (%), HAS ADOPTED THIS REGULATION: Article 1 From 1 January to 31 December 1995 catches taken by ves- sels flying the flag of a Member State in the waters falling within the fisheries jurisdiction of the Faroe Islands, under the arrangement on reciprocal fishing rights for 1995 between the Community and the Faroe Islands, shall not exceed the quotas set out in the Annex hereto. Article 2 This Regulation shall enter into force on 1 January 1995 However, for new Member States, the Regulation shall enter into force on the date of accession. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 20 December 1994. (") OJ NoL 389, 31.12. 1992, p. 1. (® OJ No L 226, 29. 8. 1980, p. 12. For the Council The President J. BORCHERT (®» OJ No L 261, 20. 10. 1993, p 1.