EUR-Lex - 31978D0152 - EN

ARTICLE 1

DENMARK IS HEREBY AUTHORIZED ON A TEMPORARY BASIS TO MAINTAIN THE RESTRICTIONS IN FORCE ON THE DATE WHEN THIS DECISION IS NOTIFIED , ON PURCHASES BY PERSONS RESIDENT IN DENMARK OF FOREIGN SECURITIES DEALT IN ON A STOCK EXCHANGE , OTHER THAN THOSE REFERRED TO IN ARTICLE 2 , AND REPURCHASES FROM ABROAD OF DANISH SECURITIES DEALT IN ON A STOCK EXCHANGE , DENOMINATED ENTIRELY OR PARTLY IN FOREIGN CURRENCY , INCLUDING PHYSICAL TRANSFERS OF THE SECURITIES IN QUESTION .

ARTICLE 2

FROM 1 JANUARY 1978 TRANSACTIONS REFERRED TO IN ARTICLE 1 , WHERE THEY CONCERN PURCHASES BY DANISH RESIDENTS OF BONDS ISSUED BY THE COMMUNITY , COMMUNITY FINANCIAL INSTITUTIONS AND INTERNATIONAL FINANCIAL INSTITUTIONS OF WHICH DENMARK IS MEMBER , SHALL NOT BE SUBJECT TO RESTRICTIONS .

ARTICLE 3

1 . THE COMMISSION SHALL KEEP UNDER CLOSE REVIEW THE DEVELOPMENT OF THE ECONOMIC SITUATION IN DENMARK . IT SHALL INVESTIGATE THE SITUATION AND THE EFFECTS OF THE MEASURES AUTHORIZED HEREIN NOT LATER THAN 31 DECEMBER 1978 .

2 . THE COMMISSION RESERVES THE RIGHT TO AMEND OR REVOKE THIS DECISION IF IT FINDS THAT THE CONDITIONS ON WHICH IT WAS BASED HAVE CHANGED OR THAT THE EFFECTS OF THE DECISION ARE MORE RESTRICTIVE THAN IS NECESSARY TO ACHIEVE ITS PURPOSE .

ARTICLE 4

THIS DECISION IS ADDRESSED TO THE KINGDOM OF DENMARK .

DONE AT BRUSSELS , 22 DECEMBER 1977 .

FOR THE COMMISSION

FRANCOIS-XAVIER ORTOLI

VICE-PRESIDENT