Regulation 23

Where reference is made in these Regulations to the ECU, the exchange value to be used with effect from the 31st December of each year shall be the value which applies on the last day of the preceding October for which exchange values for the ECU are available in all Community currencies with the exception of Articles 3, 16 and 17 of the first Directive, where Article 2 of Directive 76/580/EEC [O.J. No. L189, 13.7.1976, p.13.] shall apply.