29.12.73 OfficialJournaloftheEuropeanCommunities NoL360/5
REGULATION (EEC)No3512/73OFTHECOMMISSION
of28December 1973
fixingthecorrectiveamountapplicabletotherefundoncereals
whereasthecifforwarddeliverypriceisthatdeter­
minedinaccordancewithArticle3(2)ofRegulation
No140/67/EEC(5),asamendedbyRegulation (EEC)
No2435/70(b),based,inrespectofeachmonthfor
whichtheexportlicenceisvalid,onthecifprice
calculatedonthebasisofoffersforshipmentduring
themonthofexportation ;
Whereasthecorrectiveamountsofixedwillbealtered
ifapplicationofthecalculationproceduredescribed
aboveentailsachangeinthatamountofmorethan
()■125unitofaccount ;THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ;
HavingregardtoCouncilRegulationNo120/
67/EEC(')of13June1967onthecommonorganiza­
tionofthemarketincereals,aslastamendedbyRegu­
lation(EEC)NoI346/73(-),andinparticularthe
thirdsentenceofthefirstsubparagraph ofArticle16
(4)thereof;
HavingregardtotheOpinionoftheMonetary
Committee ;
WhereasArticle16(4)ofRegulationNo120/67/EEC
providesthattheexportrefundapplicablelocereals
onthedayonwhichapplicationforanexportlicence
ismade,adjustedforthethresholdpriceinforce
duringthemonthofexportation ,mustbeappliedon
requesttoexportstobeeffectedduringtheperiodof
validityoftheexportlicence;whereas,inthiscase,a
correctiveamountmustbeappliedtotherefund;
WhereasRegulationNo633/67/EEC('),aslast
amendedbyRegulation (EEC)No1461/72(4),lavs
downdetailedrulesfortheadvancefixingofthe
exportrefundoncereals;
WhereasthatRegulationprovidesthattherefund
applicableonthedavonwhichapplicationforan
exportlicenceismademust,whentherefundisfixed
inadvance,bereducedbynotmorethatthediffer­
encebetweenthecifforwarddeliverypriceandthecif
pricewheretheformerexceedsthelatterbymore
thanoneunitofaccountpermetricton;whereas,on
theotherhand,therefundmustbeincreasedbynot
morethanthedifferencebetweenthecifpriceand
thecifforwarddelivervpricewheretheformer
exceedsthelatterbymorethanoneunitofaccount
permetricton;
Whereasthecifpriceisthatdetermined inaccor­
dancewithArticle13ofRegulationNo120/67/EEC;Whereas,however,Article2ofRegulationNo633/
67/EECprovidesthatthecorrectiveamountappli­
cabletotheamountoftherefundfixedinadvanceon
exportstobeeffectedafterthethirdmonthfollowing
thatduringwhichthelicencewasissuedshouldbe
fixedonthebasisofforeseeablemarkettrends;
whereastothisendaccountshouldbetakenofavail­
abilitiesandforeseeabletrendsontheCommunity
marketandofforwardtrendsontheworldmarket,in
particularonthosemarketswhosespecificrequire­
mentshavemadeitnecessarytovarytherefund;
Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthefollowingbasis:
—inthecaseofcurrencieswhicharemaintained in
relationtoeachother,atanygivenmoment,
withinabandof2-25%,arateofexchangebased
ontheireffectiveparity;
—forothercurrenciesanexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeach
ofthesecurrenciesrecordedforagivenperiod,in
relationtotheCommunitycurrenciesreferredto
intheprevioussubparagraph ;
Whereasiffollowsfromapplyingalltheseprovisions
thatthecorrectiveamountmustbefixedasshownin
theTableannexedtothisRegulation ;
WhereasthemeasuresprovidedforinthisRegulation
areinaccordancewiththeOpinionoftheManage­
mentCommittee forCereals,(')0|Noll"7,14.6.1467,p.2264/6,7.
(-)OJNoI.141,2S.S.p.s.
(;)OJNo2vi,2N.4.p.y.
(4)OJNoI.I5\II.~I4~2.p.ivHOfNo125,26.6.I967,p.2456/67.
(")()jNoI.262,12.1970,p.V

NoL360/6 OfficialJournaloftheEuropeanCommunities 29.12.73
HASADOPTEDTHISREGULATION : herebyfixedasshownintheTableannexedtothis
Regulation .
Article1
Article2
ThecorrectiveamountreferredtoinArticle16(4)of
RegulationNo120/67/EECwhichisapplicabletoThisRegulationshallenterintoforceon29
exportrefundsfixedinadvanceinrespectofcerealsisDecember1973.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,28December1973.
FortheCommission
P.J.LARDINOIS
iMemberoftheCommission
ANNEX
totheCommissionRegulationof28December1973fixingthecorrectiveamountappli­
cabletotherefundoncereals
CCT
heading
NoDescriptionofgoods1st
period
12nd|3rd|4th5th6tli
period ;period Jperiodperiodperiod
2i3j456Current
12
10.01A
0.01B
0.02
0.03
0.04
0.0.5B
10.07CCommonwheat,andmes­
lin
Durumwheat
Rye
Barley
Oats
Maizeotherthanhybrid
maizeforsowing
Grainsorghum