++++

Article 70

1 . If the application of Article 68 in Spain results in a price level different from that of the common prices , the prices in respect of which , in Section II , reference is made to this Article shall , subject to paragraph 4 , be aligned with the common prices each year at the beginning of the marketing year in accordance with the provisions of paragraphs 2 and 3 .

2 . Where the price of a product in Spain is lower than the common price , the move towards alignment shall be made in seven stages , the price in Spain , at the time of the first six moves towards alignment , being increased successively , by a seventh , a sixth , a fifth , a quarter , a third and a half of the difference between the price level in that Member State and the common price level which are applicable before each move towards alignment ; the price resulting from that calculation shall be increased or reduced proportionately to any rise or fall in the common price for the next marketing year ; the common price shall be applied in Spain at the time of the seventh move towards alignment :

3 . ( a ) Where the price of a product in Spain is higher than the common price , the price in that Member State shall be maintained at the level resulting from the application of Article 68 , the moves towards alignment resulting from the development of common prices during the seven years following accession .

However , the price in Spain shall be adjusted to the extent necessary to avoid an increase in the variation between that price and the common price .

Moreover , if the Spanish prices , expressed in ECU , fixed under the previous national arrangements for the 1985/86 marketing year have led to an overrun in the variation existing for the 1984/85 marketing year between the Spanish prices and the common prices , the price in Spain resulting from the application of the two preceding subparagraphs shall be reduced by an amount to be determined , equivalent to part of the overrun , so that the overun is totally absorbed over the first seven marketing years following accession .

Without prejudice to point ( b ) , the common price shall be applied when the seventh move towards adjustment takes place .

( b ) Where the price of a product in Spain is significantly higher than the common price , the Council shall , at the end of the fourth year following accession , carry out an analysis of the development of moves towards price alignment , on the basis of an opinion from the Commission accompanied , where appropriate , by suitable proposals .

The Council , acting by a qualified majority on a proposal from the Commission and after consulting the Assembly , may , in particular , prolong the period for moves towards price alignment within the limits of the maximum duration of the period of application of the transitional measures and decide on other methods of accelerated moves towards price alignment .

4 . In the interests of the smooth functioning of the process of integration , it may be decided that , notwithstanding paragraph 2 , the price of one or more products in Spain shall , for one marketing year , vary from the prices resulting from the application of that paragraph .

That variation may not exceed 10 % of the amount of the price move to be made .

In that event , the price level for the following marketing year shall be that which would have resulted from applying paragraph 2 if the variation had not been decided upon . A further variation from that price level may , however , be decided upon for that marketing year under the conditions laid down in the first and second subparagraphs .

The derogation laid down in the first subparagraph shall not apply to the last move towards alignment referred to in paragraph 2 .