No L 341/116 Official Journal of the European Communities 31.12. 93 COUNCIL REGULATION (EC) No 3695/93 of 21 December 1993 allocating, for 1994, certain catch quotas between the Member States for vessels fishing in Faroese waters THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, Having regard to Council Regulation (EEC) No 3760/92 of 20 December 1992 establishing a Community system for fisheries and aquaculture (1), and in particular Article 8 (4) thereof, Having regard to the proposal from the Commission, Whereas, in accordance with the procedure provided for in the Agreement on fisheries 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, the two parties have held consultations on their mutual fishing rights for 1994; Whereas, as a result of these consultations, the two Parties have agreed on an arrangement for 1994 whereby certain catch quotas are allocated to Community vessels in the Faroese fishing zone; Whereas, to ensure efficient management of the catch possibilities available, they should be allocated among the 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 fisheries policy (2), HAS ADOPTED THIS REGULATION: Artiqle 1 From 1 January to 31 December 1994 catches taken by vessels 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 1993 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 - 1994, This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 21 December 1993. (1) OJ No L 389, 31. 12. 1992, p. 1. For the Council The President A. BOURGEOIS (3) O] No L 261, 20. 10. 1993, p. 1.