Administrative and financial provisions

Article 7

The first financial year shall run from the date on which the Commission takes office to 30  June of the following year.

The levy provided for in Article 50 of the Treaty may be collected upon the adoption of the  first budget estimates. As a transitional measure to meet initial administrative expenditure,  Member States shall make repayable interest free advances, the amount of which shall be  calculated in proportion to their contributions to the Organization for European Economic Cooperation.

( Third paragraph repealed by Article 24( 2 ) of the Merger Treaty )

[ See Article 24( 1 ) of the Merger Treaty, which reads as follows:

1. The officials and other servants of the European Coal and Steel Community, the European  Economic Community and the European Atomic Energy Community shall, at the date of  entry into force of this Treaty, become officials and other servants of the European  Communities and form part of the single administration of those Communities.

The Council shall, acting by a qualified majority on a proposal from the Commission and  after consulting the other institutions concerned, lay down the Staff Regulations of officials of  the European Communities and the Conditions of Employment of other servants of those  Communities. ]

CHAPTER 2

ESTABLISHMENT OF THE COMMON MARKET

Article 8

The common market will be established as effect is given to Article 4 of the Treaty, once all  the institutions of the Community have been set up and the Commission has consulted  governments, undertakings and associations of undertakings, workers and consumers, and an  overall picture of the situation in the Community has been established on the basis of the  information thus obtained.

This shall be done, without prejudice to the special provisions contained in this Convention;

a. In the case of coal, upon notification by the Commission that the equalization machinery  provided for in Chapter 2 of Part Three of this Convention has been set up;
b. In the case of iron ore and scrap, on the same date as for coal;
c. In the case of steel, two months after that date.

The equalization machinery for coal provided for in Part Three of this Convention shall be set  up within six months, after the Commission takes office.

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