The Community shall act within the limit of the powers conferred upon
it by this Treaty and of the objectives assigned to it therein.
In areas which do not fall within its exclusive competence, the
Community shall take action, in accordance with the principle of
subsidiarity, only if and in so far as the objectives of the proposed
action cannot be sufficiently achieved by the Member States and can
therefore, by reason of the scale or effects of the proposed action, be
better achieved by the Community.
Any action by the Community shall not go beyond what is necessary to
achieve the objectives of this Treaty."
6) Article 4 shall be replaced by the following:
"ARTICLE 4
1. The tasks entrusted to the Community shall be carried out by the
following institutions:
- a EUROPEAN Parliament,
- a COUNCIL,
- a COMMISSION,
- a COURT OF JUSTICE,
- a COURT OF AUDITORS.
Each institution shall act within the limits of the powers conferred upon
it by this Treaty.
2. The Council and the Commission shall be assisted by an Economic
and Social Committee and a Committee of the Regions acting in an
advisory capacity."
7) The following Articles shall be inserted:
"ARTICLE 4a
A European System of Central Banks (hereinafter referred to as
"ESCB") and a European Central Bank (hereinafter referred to as
"ECB") shall be established in accordance with the procedures laid
down in this Treaty; they shall act within the limits of the powers