EC-Treaty
ex Article 7※
1. The common market shall be progressively established during a
transitional period of twelve years.
This transitional period shall be divided into three stages of four
years each; the length of each stage may be altered in accordance
with the provisions set out below.
2. To each stage there shall be assigned a set of actions to be
initiated and carried through concurrently.
3. Transition from the first to the second stage shall be
conditional upon a finding that the objectives specifically laid
down in this Treaty for the first stage have in fact been attained
in substance and that, subject to the exceptions and procedures
provided for in this Treaty, the obligations have been fulfilled.
This finding shall be made at the end of the fourth year by the
Council, acting unanimously on a report from the Commission. A
Member State may not, however, prevent unanimity by relying upon the
non-fulfilment of its own obligations. Failing unanimity, the first
stage shall automatically be extended for one year.
At the end of the fifth year, the Council shall make its finding
under the same conditions. Failing unanimity, the first stage shall
automatically be extended for a further year.
At the end of the sixth year, the Council shall make its finding,
acting by a qualified majority on a report from the Commission.
4. Within one month of the last-mentioned vote any Member State
which voted with the minority or, if the required majority was not
obtained, any Member State shall be entitled to call upon the
Council to appoint an arbitration board whose decision shall be
binding upon all Member States and upon the institutions of the
Community. The arbitration board shall consist of three members
appointed by the Council acting unanimously on a proposal from the
Commission.
If the Council has not appointed the members of the arbitration
board within one month of being called upon to do so, they shall be
appointed by the Court of Justice within a further period of one
month.
The arbitration board shall elect its own Chairman.
The board shall make its award within six months of the date of the
Council vote referred to in the last subparagraph of paragraph 3.
5. The second and third stages may not be extended or curtailed
except by a decision of the Council, acting unanimously on a
proposal from the Commission.
6. Nothing in the preceding paragraphs shall cause the transitional
period to last more than fifteen years after the entry into force of
this Treaty.
7. Save for the exceptions or derogations provided for in this
Treaty, the expiry of the transitional period shall constitute the
latest date by which all the rules laid down must enter into force
and all the measures required for establishing the common market
must be implemented.
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