lar so permit.
2) In so far as movement of goods, services and capital are limited
only by restrictions on payments connected therewith, these
restrictions shall be progressively abolished by applying, mutatis
mutandis, the provisions of this Chapter and the Chapters relating to
the abolition of qualitative restrictions and to the liberalization of
services.
3) Member States undertake not to introduce between themselves any
new restrictions on transfers connected with the invisible transactions
listed in Annex III to this Treaty.
The progressive abolition of existing restrictions shall be effected in
accordance with the provisions of Articles 63 to 65, in so far as such
abolition is not governed by the provisions contained in paragraphs 1
and 2 or by the other provisions of this Chapter.
4) If need be, Member States shall consult each other on the measures
to be taken to enable the payment and transfers mentioned in this
Article to be effected; such measures shall not prejudice the
attainment of the objectives set out in this Treaty."
16) Article 75 shall be replaced by the following:
"ARTICLE 75
1. For the purpose of implementing Article 74, and taking into account
the distinctive features of transport, the Council shall, acting in
accordance with the procedure referred to in Article 189c and after
consulting the Economic and Social Committee, lay down:
(a) common rules applicable to international transport to or from the
territory of a Member State or passing across the territory of one or
more Member States;
(b) the conditions under which non-resident carriers may operate
transport services within a Member State;
(c) measures to improve transport safety;
(d) any other appropriate provisions.
2. The Provisions referred to in (a) and (b) of paragraph 1 shall be laid
down during the transitional period.
3. By way of derogation from the procedure provided for in paragraph
1, where the application of provisions concerning the principles of the
regulatory system for transport would be liable to have a serious
effect on the standard of living and on employment in certain areas
and on the operation of transport facilities, they shall be laid down by
the Council acting unanimously on a proposal from the Commission,
after consulting the European Parliament and the Economic and Social
Committee. In so doing, the Council shall take into account the need
for adaptation to the economic development which will result from
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