OfficialJournaloftheEuropeanCommunitiesNoL134/17
31.5.88
COMMISSION REGULATION (EEC)No1476/88
of30May1988
fixingtheexportrefundsonoliveoil
Whereastheamountoftherefundmaynotexceedthe
differencebetweenthepriceofoliveoilintheCommu­
nityandthatontheworldmarket,adjusted,whereappro­
priate,totakeaccountofexportcostsfortheproductson
theworldmarket;
Whereas,inaccordancewithArticle5ofRegulation
(EEC)No1650/86,itmaybedecidedthattherefund
shallbefixedbytender;
Whereasthetenderingprocedureshouldcoverthe
amountoftherefundandmaybelimitedtocertaincoun­
triesofdestination,quantities,qualitiesandpresenta­
tions;
WhereasthesecondindentofArticle2ofRegulation
(EEC)No1650/86providesthattherefundonoliveoil
maybevariedaccordingtodestinationwheretheworld
marketsituationorthespecificrequirementsofcertain
marketsmakethisnecessary;THECOMMISSION OFTHEEUROPEANCOMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,
HavingregardtotheActofAccessionofSpainand
Portugal,
HayingregardtoCouncilRegulationNo136/66/EECof
22September1966ontheestablishmentofacommon
organizationofthemarketinoilsandfats('),aslast
amendedbyRegulation(EEC)No3994/87(2),
HavingregardtoCouncilRegulation(EEC)No1650/86
of26May1986onexportrefundsandleviesonolive
oil(3),andinparticularthefirstsentenceofArticle3(1)
thereof,
HavingregardtotheopinionoftheMonetaryCommittee,
WhereasArticle20ofRegulationNo136/66/EEC
providesthat,wherepriceswithintheCommunityare
higherthan,worldmarketprices,thedifferencebetween
thesepricesmaybecoveredbyarefundwhenoliveoilis
exportedtothirdcountries;
Whereasthedetailedrulesforfixingandgrantingexport
refundsonoliveoilarecontainedinRegulations(EEC)
No1650/86and(EEC)No616/72(4),aslastamendedby
Regulation(EEC)No2962/77(0;
WhereasthefirstindentofArticle2ofRegulation(EEC)
No1650/86providesthattherefundmustbethesame
forthewholeCommunity ;
Whereas,inaccordancewithArticle4ofRegulation
(EEC)No1650/86,therefundforoliveoilmustbefixed
inthelightoftheexistingsituationandoutlookinrela­
tiontooliveoilpricesandavailabilityontheCommunity
marketandoliveoilpricesontheworldmarket;
Whereas,however,wheretheworldmarketsituationis
suchthatthemostfavourableoliveoilpricescannotbe
determined,accountmaybetakenofthepriceofthe
maincompetingvegetableoilsontheworldmarketand
thedifferencerecordedbetweenthatpriceandtheprice
ofoliveoilduringarepresentativeperiod;WhereasArticle3(1)ofRegulation .(EEC)No1650/86
providesthattherefundmustbefixedatleastonceevery
month;whereasitmay,'ifnecessary,bealteredinthe
interveningperiod;
Whereasitfollowsfromapplyingthesedetailedrulesto
thepresentsituationonthemarketinoliveoilandin
particulartooliveoilpriceswithintheCommunityand
onthemarketsofthirdcountriesthattherefundshould
beassetoutintheAnnexhereto;
Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthefollowingbasis:
inthecaseofcurrencieswhicharemaintainedinrela­
tiontoeachotheratanygivenmomentwithinaband
of2,25%,arateofexchangebasedontheircentral
rate,multipliedbythecorrectivefactorprovidedforin
thelastparagraphofArticle3(1)ofCouncilRegula­
tion(EEC)No1676/85(6),aslastamendedbyRegula­
tion(EEC)No.1636/87Q;
forothercurrencies,anexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeachof
thesecurrenciesrecordedoveragivenperiodinrela­
tiontotheCommunitycurrenciesreferredtointhe
previousindent,andtheaforesaidcoefficient;(')OJNo172,30.9.1966,p.3025/66.
(2)OJNoL377,31.12.1987,p.30.
(3)OJNoL145,30.5.1986,p.8.
(♦)OJNoL78,31.3.1972,p.1.f)OJNoL348,30.12.1977,p.53.(«)OJNoL164,24.6.1985,p.1.
QOJNoL153,13.6.1987,p.1.

NoL134/18 OfficialJournaloftheEuropeanCommunities 31.5.88
WhereaspursuanttoArticle275oftheActofAccession
ofSpainandPortugal,refundsmaybegrantedinthecase
ofexportstoPortugal;whereas,inthelightofthesitua­
tionandthelevelofpricesnorefundshouldbefixedin
thecaseofexportstoPortugal;HASADOPTEDTHISREGULATION :
Article1
TheexportrefundsontheproductslistedinArticle1(2)
(c)ofRegulationNo136/66/EECshallbeassetoutin
theAnnexhereto.
Article2
ThisRegulationshallenterintoforceon1June1988.WhereastheManagementCommitteeforOilsandFats
hasnotdeliveredanopinionwithinthetimelimitsetby
itschairman,
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,30May1988.
FortheCommission
FransANDRIESSEN
Vice-President
ANNEX
totheCommissionRegulationof30May1988fixingtheexportrefundson
oliveoil
(ECU/100kg)
ProductcodeAmountofrefund(')
15091090100 55,40
15091090900101,50
1509900010058,40
15099000'900 107,40
1510009010015,50
15100090900 54,50
(')FordestinationsmentionedinArticle5ofCommissionRegulation(EEC)No2730/79(OJNoL317,12.12.
1979,p.1),aswellasforexportstothirdcountries.
NB:TheproductcodesandthefootnotesaredefinedinRegulation(EEC)No3846/87asamended.
/