NoL207/34 OfficialJournaloftheEuropeanCommunities 28.7.73
REGULATION (EEC)No2042/73OFTHECOMMISSION
of27July1973
makingtransitionalprovisionsconsequential upontheapplicationon4June
1973ofthenewsystemofmonetarycompensatory amounts
lossduetovariationsinthevalueofthedollaratthe
timeofthetransitionfromonesystemtotheother;
Whereas,inviewoftheentryintoforceofthenew
systemon4June1973,itseemsfairtoprovidethat,
forallimportsorexportsinrespectofwhichadvance
fixingofthelevyorrefundhadbeenrequestedbefore
thatdate,thecompensatory amountshouldbethat
applicableon3June1973;whereastheawardupon
tenderofacontractfortheexportofsugarhasalso
theeffectoffixingtheamountofrefund;whereas,
therefore,thesameconsiderationshouldbegivento
thecaseofarefundfixeduponanawardastothe
othercasesmentioned ;whereas,however,thebenefit
ofthisprovisionshouldonlyapplyonrequest;
WhereastheManagementCommitteesforCereals,for
PoultrymeatandEggs,forSugarandforMilkand
MilkProductshavenotdeliveredOpinionswithinthe
timelimitssetbytheirChairmen ;THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ;
HavingregardtoCouncilRegulation (EEC)No
974/71(')of12May1971oncertainmeasuresof
conjunctural policytobetakeninagriculture
followingthetemporarywideningofthemarginsof
fluctuation forthecurrencies ofcertainMember
States,aslastamendedbyRegulation (EEC)No
1225/73(2),andinparticularArticle6thereof;
Whereasoneoftheconsequences oftheintroduction
ofthenewsystemofmonetarycompensatory
amountson4June1973isthatthemonetarycompen­
satoryamountofaMemberStatenolongerreflects
therelationshipbetweenitscurrencyandtheUS
dollar;whereasthefluctuationofthedollarandother
currenciesinrelationtothecurrenciesoftheMember
Statestakingpartinthejointfloatistakenintoconsid­
erationinthecalculationofleviesandrefunds;
whereas,therefore,underthenewsystemoperators
havetocoverthemselvesagainsttheriskofexchange
fluctuations ,whileundertheformersystemtheriskof
changesintherateofexchangeinrelationtothe
dollarwascovered ,bythemonetarycompensatory
amount;
Whereasoperatorshavebeenawareofthenewrules
tobeappliedtoparitieslaiddownbyCouncilRegula­
tion(EEC)No1112/73(3)of30April1973,amending
Regulation (EEC)No974/71,oncertainmeasuresof
conjunctural policytobetakeninagriculture
followingthetemporarywideningofthemarginsof
fluctuationforcertainMemberStates;
Whereas,however,thedateofapplicationofthenew
systemwasfixedon4June1973byCommission
Regulation (EEC)No1463/73(4)of30May1973
layingdowndetailedrulesfortheapplicationofmone­
tarycompensatory amounts ;
Whereasifanimporterorexporterhadfixedalevyor
refundinadvancebeforethatdate,hemaysustainHASADOPTED THISREGULATION :
Article1
Attherequestofthepartyconcernedthemonetary
compensatory amount,includingthecoefficientby
whichthelevyorrefundisadjusted,applicableon3
June1973shall,inlieuoftheamountapplicableon
thedateofimportationorexportation ,applytoall
transactionscarriedoutbefore3June1973inrespect
ofwhichthelevyorrefundwasfixedinadvance
before4June1973or,inthecaseofsugar,therefund
wasthesubjectofanawardupontendermadebefore
4June1973.
Article2
1.ThisRegulationshallenterintoforceontheday
ofitspublicationintheOfficialJournaloftheEuro­
peanCommunities .
2.Itshallapplyfrom4June1973.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,27July1973.
FortheCommission
ThePresident
François-Xavier ORTOLI
(')OJNoL106,12.5.1971,p.1.
(2)OJNoL125,11.5.1973,p.49.
(3)OJNoL114,30.4.1973,p.4.h)OJNoL146,4.6.1973,p.1.