PURPOSE: codification of legislation concerning scrutiny by Member States of transactions forming part of the system of financing by the European Agricultural Guarantee Fund.
PROPOSED ACT: Council Regulation.
CONTENT: the purpose of this proposal is to undertake a codification of Council Regulation 4045/89/EEC of 21 December 1989 on scrutiny by Member States of transactions forming part of the system of financing by the Guarantee Section of the European Agricultural Guidance and Guarantee Fund and repealing Directive 77/435/EEC. The new Regulation will supersede the various acts incorporated in it; this proposal fully preserves the content of the acts being codified and hence does no more than bring them together with only such formal amendments as are required by the codification exercise itself.