No L 197/30 Official Journal of the European Communities 26. 7. 88 COUNCIL REGULATION (EEC) No 2229/88 of 19 July 1988 ‘ ‘ amending Regulation (EEC) No 1418/76 on the common organization of the market in THE COUNCIL OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, and in particular Article 43 thereof, ‘ Having regard to the proposal from the Commission (1), Having regard to the opinion of the European Parliament (2), Having regard to the opinion of the Economic and Social Committee (3), Whereas the intervention mechanism was adjusted from the 1987/88 marketing year, in particular as concerns -the conditions for opening buying in by intervention agencies during the period when the latter is possible; whereas experience has shown that the new mechanism entails a highly cumbersome administrative management without " affording any real advantages; whereas the previous system should accordingly be re-established; Whereas, on buying in, the coefficient of 94 % must apply to the intervention price applicable at the beginning of the marketing year; whereas it must not affect the monthly increases, HAS ADOPTED THIS REGULATION: Article 1 Council Regulation (EEC) No 1418/76(*) is hereby amended as follows: 1. Article 5 is replaced by the following: ‘Article 5 1. In the period 1 December to 31 July, the intervention agencies shall buy in paddy rice which is offered to them, provided the offers comply with conditions, in particular in respect of quantity and quality, to be determined in accordance with para- graph §. » 2.  Buyingin as provided for in paragraph 1 shall be carried out on the basis of a price equal to 94 % of the rice intervention price applicable for the marketing centre at which the paddy rice is offered, under conditions determined pursuant to paragraphs 4 and §. If the quality of the paddy rice offered differs from the standard quality for which the intervention price was fixed, the latter shall be adjusted by applying price increases or reductions. 3. Under the conditions adopted pursuant to paragraphs 4 and 5, the intervention agencies shall offer for sale, for export to third countries or for supply to the internal market, paddy rice bought in accordance with paragraph 1. 4.  The Council, acting by a qualified majority on a proposal from the Commission, shall adopt general rules: governing intervention. 5.  Detailed rules for the application of this Article shall be adopted in accordance with the procedure laid down in Article 27, in particular as regards: the minimum quality and' quantity required for intervention, ) the price increases or reductions applicable to intervention, the procedures and conditions for taking over by the intervention agencies, the procedures and conditions for disposal by the intervention agencies.’ o 2. Article 7 (1) is replaced by the following: ‘1. Thetarget price, intervention prices and buying-in prices referred to in Article 5 (2) shall be subject to monthly increases, phased over the whole or part of the marketing year.’ Article 2 This Regulation shall enter into force on the third day following its publication in the Official Journal of the European Communities. It shall apply with effect from 1 September 1988. . This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 19 July 1988. (1) OJ No C 139, 30. 5. 1988, p. 13. (2) OJ No C 167, 27. 6. 1988. (3) OJ No C 175, 4. 7. 1988, p. 33. (*) O] No L 166, 25. 6. 1976, p. 1. For the Council The President Y. POTTAKIS