4.5.2005 Official Journal of the European Union L 114/9 I (Acts whose publication is not obligatory) COUNCIL COUNCIL DECISION of 22 December 2004 on the conclusion of the Agreement between the European Community and the Principality of Andorra providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments (2005/356/EC) THE COUNCIL OF THE EUROPEAN UNION, (3)  The application of the provisions of Directive 2003/48/EC (%) depends on the application by the Princi- pality of Andorra of measures equivalent to those contained in that Directive, in accordance with an agreement concluded by the Principality of Andorra with the European Community. Having regard to the Treaty establishing the European Community, and in particular Article 94 in conjunction with the first subparagraph of paragraph 2, the first subparagraph of paragraph 3 and paragraph 4 of Article 300 thereof, (4 In accordance with Decision 2004/828/EC, and subject ) o to the adoption at a later date of a Decision on the Having regard to the proposal of the Commission, conclusion of the Agreement, the Agreement was signed on behalf of the European Community on 15 November 2004. Having regard to the Opinion of the European Parliament (%), (5)  The Agreement should be approved. Whereas: (6) It is necessary to provide for a simple and rapid procedure for possible adaptations of Annexes I and II (1)~ On 16 October 2001 the Council authorised the to the Agreement, Commission to negotiate with the Principality of Andorra an appropriate agreement for securing the adoption by the Principality of measures equivalent to those to be applied within the Community to ensure HAS DECIDED AS FOLLOWS: effective taxation of savings income in the form of interest payments. Article 1 The Agreement between the European Community and the Principality of Andorra providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments is hereby approved on behalf of the European Community. (2)  The text of the Agreement which is the result of the negotiations duly reflects the negotiating directives issued by the Council. It is accompanied by a Memorandum of Understanding between the European Community and its Member States, of the one part, and the Principality of Andorra of the other part, the text of which is attached to Council Decision 2004/828/EC (3). The text of the Agreement is attached to this Decision (¥). (*) Opinion of 17 November 2004 (not yet published in the Official (}) OJ L 157, 26.6.2003, p. 38. Directive as last amended by Directive Journal). 2004/66[EC (O] L 168, 1.5.2004, p. 35). () O] L 359, 4.12.2004, p. 32. () O] L 359, 4.12.2004, p. 33.