preamble_10

Council Directive 76/580/EEC of 29 June 1976 amending Directive 73/239/EEC on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct insurance other than life assurance · European Union

Whereas, for the purposes of the said Directive "unit of account" means that unit which is defined in Article 4 of the Protocol on the Statute of the European Investment Bank ; whereas on the basis of this definition the conversion of the amounts mentioned in the Directive into national currencies would lead to distortions of competition between undertakings whose head offices are situated in the various Member States;

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Source: EUR-Lex (Cellar) · retrieved 2026-11-06 · Text as adopted (Official Journal); later amendments are not incorporated in this text.