20.11.98 Official Journal of the European Communities L 312/1 (Acts whose publication is obligatory) COUNCIL REGULATION (EC) No 2467/98 of 3 November 1998 on the common organisation of the market in sheepmeat and goatmeat THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particular Articles 42 and 43 thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the European Parliament ('), Having regard to the opinion of the Economic and Social Committee (2), (1)  Whereas Council Regulation (EEC) 3013/89 of 25 September 1989 on the common organisation of the market in sheepmeat and goatmeat (3) has been frequently and substantially amended (*); whereas for reasons of clarity and rationality the said Regulation should therefore be codified,; (2)  Whereas the operation and development of the common market in agricultural products must be accompanied by the establishment of a common agricultural policy involving common organisation of the agricultural markets; whereas the form of such organisation may vary from one product to another; (3)  Whereas, in order to attain the objectives set out in Article 39 of the Treaty, in particular market (1) OJ C 313, 12.10.1998. (%) OJ C 214, 10.7.1998, p. 72. () OJ L 289, 7.10.1989, p. 1. Regulation as last amended by Regulation (EC) No 1589/96 (O] L 206, 16.8.1996, p. 25). (*) See Annex II, Part B. stability and a fair standard of living for the agricultural community concerned, it is necessary to retain certain arrangements facilitating adjustment of supply to market requirements; whereas, in particular, Community sheepmeat and goatmeat producers should continue to be granted a premium to compensate for loss of income, and intervention measures should be continued; (4)  Whereas provision should be made for the fixing of a basic price at which intervention measures will come into operation and which will protect the Community market against price fluctuations on the world market for certain products in the sector; (5) Whereas the amount of the premium to be granted to producers, determined on the basis of a Community single income loss, must take account of the different specialisations of production systems in the Community; whereas, in order to limit any increase in the budget cost in this sector, provision should be made for limiting the full rate of the premium to 1 000 animals per producer in the less-favoured areas within the meaning of Directive 75/268/EEC (°) and to 500 animals per producer in other areas; whereas, above these figures, the premium will continue to be paid at the reduced level of 50 %; (6)  Whereas it is opportune for administrative purposes that the latest date for the payment of the premium should coincide with the end of the budgetary year; (°) OJ L 128, 19.5.1975, p. 1. Directive replaced by Regulation (EC) No 950/97 (O] L 142, 2.6.1997, p. 1).