At the latest by 31 December 1996, the EMI shall specify the regulatory,  organizational and logistical framework necessary for the ESCB to perform its tasks  in the third stage. This framework shall be submitted for decision to the ECB at the  date of its establishment.

4. The EMI, acting by a majority of two thirds of the members of its Council, may:

formulate opinions or recommendations on the overall orientation of monetary  policy and exchange rate policy as well as on related measures introduced in  each Member State;

submit opinions or recommendations to governments and to the Council on  policies which might affect the internal or external monetary situation in the  Community and, in particular, the functioning of the European Monetary System;  make recommendations to the monetary authorities of the Member States  concerning the conduct of their monetary policy.

5. The EMI, acting unanimously, may decide to publish its opinions and its  recommendations.

6. The EMI shall be consulted by the Council regarding any proposed Community act  within its field of competence.

Within the limits and under the conditions set out by the Council, acting by a  qualified majority on a proposal from the Commission and after consulting the  European Parliament and the EMI, the EMI shall be consulted by the authorities of  the Member States on any draft legislative provision within its field of competence.

7. The Council may, acting unanimously on a proposal from the Commission and  after consulting the European Parliament and the EMI, confer upon the EMI other  tasks for the preparation of the third stage.

8. Where this Treaty provides for a consultative role for the ECB, references to the  ECB shall be read as referring to the EMI before the establishment of the ECB.

Where this Treaty provides for a consultative role for the EMI, references to the  EMI shall be read, before 1 January 1994, as referring to the Committee of  Governors.

9. During the second stage, the term ECB' used in Articles 173, 175, 176, 177, 180  and 215 shall be read as referring to the EMI.

Article 109g

The currency composition of the ECU basket shall not be changed.

From the start of the third stage, the value of the ECU shall be irrevocably fixed in  accordance with Article 1091( 4 ).

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