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( 1 ) OJ NO 106 , 30 . 10 . 1962 , P . 2553/62 .

( 2 ) OJ NO L 263 , 19 . 9 . 1973 , P . 1 .

( 3 ) OJ NO L 148 , 28 . 6 . 1968 , P . 13 .

( 4 ) OJ NO L 204 , 28 . 7 . 1978 , P . 6 .

( 5 ) OJ NO L 43 , 15 . 2 . 1977 , P . 1 .

( 6 ) OJ NO L 79 , 31 . 3 . 1979 , P . 78 .

COMMISSION REGULATION ( EEC ) NO 1488/79

OF 17 JULY 1979

AMENDING REGULATION ( EEC ) NO 303/77 LAYING DOWN GENERAL RULES FOR THE SUPPLY OF SKIMMED-MILK POWDER AND BUTTEROIL AS FOOD AID

THE COMMISSION OF THE EUROPEAN

COMMUNITIES ,

HAVING REGARD TO THE TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY ,

HAVING REGARD TO COUNCIL REGULATION NO 129 ON THE VALUE OF THE UNIT OF ACCOUNT AND THE EXCHANGE RATES TO BE APPLIED FOR THE PURPOSES OF THE COMMON AGRICULTURAL POLICY ( 1 ), AS LAST AMENDED BY REGULATION ( EEC ) NO 2543/73 ( 2 ), AND IN PARTICULAR ARTICLE 3 THEREOF ,

HAVING REGARD TO COUNCIL REGULATION ( EEC ) NO 804/68 OF 27 JUNE 1968 ON THE COMMON ORGANIZATION OF THE MARKET IN MILK AND MILK PRODUCTS ( 3 ), AS LAST AMENDED BY REGULATION ( EEC ) NO 1761/78 ( 4 ), AND IN PARTICULAR ARTICLES 6 ( 7 ) AND 7 ( 5 ) THEREOF ,

HAVING REGARD TO THE OPINION OF THE MONETARY COMMITTEE ,

WHEREAS THE PREVIOUS PROCEDURE UNDER COMMISSION REGULATION ( EEC ) NO 303/77 ( 5 ), AS LAST AMENDED BY REGULATION ( EEC ) NO 633/79 ( 6 ), FOR COMPARING TENDERS ON THE BASIS OF THE CURRENT REPRESENTATIVE RATES FOR THE PRICES AND AMOUNTS FIXED IN CONNECTION WITH THE COMMON AGRICULTURAL POLICY HAS NOT PROVED ENTIRELY SATISFACTORY ; WHEREAS IT NOW SEEMS POSSIBLE TO IMPROVE THE SITUATION BY ALTERING THE CONVERSION PROCEDURE ;

WHEREAS IT IS APPROPRIATE FOR THIS PURPOSE TO USE THE CURRENT EXCHANGE RATE IN PLACE OF THE REPRESENTATIVE RATE AND , AT THE SAME TIME , TO ALLOW FOR THE DIFFERING PRICE LEVELS IN THE MEMBER STATES BY TAKING ACCOUNT OF THE MONETARY COMPENSATORY AMOUNTS ; WHEREAS , IN THE CASE OF CURRENCIES GOVERNED BY THE EXCHANGE RATE MECHANISM OF THE EUROPEAN MONETARY SYSTEM AND MAINTAINED WITHIN 2.25 % OF A CENTRAL RATE , THAT RATE MAY BE USED AS THE CONVERSION RATE ; WHEREAS IN ALL OTHER CASES CONVERSION SHOULD BE CARRIED OUT ON THE BASIS OF THE AVERAGE SPOT EXCHANGE RATE USED FOR THE CORRESPONDING PERIOD AS A BASIS FOR FIXING THE MONETARY COMPENSATORY AMOUNT ;

WHEREAS THE MEASURES PROVIDED FOR IN THIS REGULATION ARE IN ACCORDANCE WITH THE OPINION OF THE MANAGEMENT COMMITTEE FOR MILK AND MILK PRODUCTS ,

HAS ADOPTED THIS REGULATION :

ARTICLE 1

ARTICLE 16 OF REGULATION ( EEC ) NO 303/77 IS AMENDED TO READ AS FOLLOWS :

' ARTICLE 16

1 . IN THE LIGHT OF THE TENDERS RECEIVED AND IN ACCORDANCE WITH THE PROCEDURE LAID DOWN IN ARTICLE 30 OF REGULATION ( EEC ) NO 804/68 A MAXIMUM AMOUNT SHALL BE FIXED IN ECU OR A DECISION SHALL BE TAKEN TO MAKE NO AWARD .

2 . FOR THE COMPARISON OF TENDERS , EACH TENDER SHALL BE CORRECTED BY THE MONETARY COMPENSATORY AMOUNT APPLICABLE IN THE MEMBER STATE CONCERNED ON THE LAST DAY OF THE PERIOD FOR THE SUBMISSION OF TENDERS .

THE CORRECTION SHALL TAKE THE FORM :

- OF AN INCREASE IN THE TENDER PRICE IN THE CASE OF TENDERS LODGED IN A MEMBER STATE WHOSE CURRENCY HAS DEPRECIATED IN VALUE ,

- OF A REDUCTION IN THE TENDER PRICE IN THE CASE OF TENDERS LODGED IN A MEMBER STATE WHOSE CURRENCY HAS APPRECIATED IN VALUE .

THE EXCHANGE RATE IN ECU TO BE USED FOR THE TENDERS IN NATIONAL CURRENCIES THUS CORRECTED SHALL BE :

- IN THE CASE OF CURRENCIES MAINTAINED WITHIN A MAXIMUM SPREAD OF 2.25 % , THE CENTRAL RATE FOR THE CURRENCY IN QUESTION ,

- IN ALL OTHER CASES THE AVERAGE OF THE SPOT EXCHANGE RATE FOR THE CURRENCY IN QUESTION OVER THE PERIOD FROM A WEDNESDAY TO THE FOLLOWING TUESDAY DIRECTLY PRECEDING THE LAST DAY OF THE PERIOD FOR THE SUBMISSION OF TENDERS . '

ARTICLE 2

THIS REGULATION SHALL ENTER INTO FORCE ON 1 SEPTEMBER 1979 .

THIS REGULATION SHALL BE BINDING IN ITS ENTIRETY AND DIRECTLY APPLICABLE IN ALL MEMBER STATES .

DONE AT BRUSSELS , 17 JULY 1979 .

FOR THE COMMISSION

FINN GUNDELACH

VICE-PRESIDENT