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The Fund's operations in the currencies of the Member States shall be expressed in a European monetary unit of account of a value of 0 788867088 grammes of fine gold. When all the Member States alter the parity or the central rate of their currency simultaneously in the same direction, the value of the unit of account shall be changed automatically: - where the parities change in the same proportion : in the same direction and by the same proportion as the changes in parities or in the central rates; - where the parities change in different proportions : in the same direction as the change and in the same proportion as the smallest change in parity or central rate, unless the Council decides on a larger change. In such a case the Council shall act within three days from that of the official announcement by the first Member State to change the parity or central rate of its currency, and in accordance with the procedure laid down in the fourth paragraph of this Article. Simultaneous changes mean changes in the parity or central rate of the currencies of the Member States made within the three-day period referred to above.

Any other changes in the value of the unit of account shall be decided on by the Council, acting unanimously on a proposal from the Commission after consulting the Monetary Committee and the Board of Governors of the Fund.

The Statutes of the Fund are set out in the Annex to this Regulation and form an integral part thereof.