NoL114/26 OfficialJournaloftheEuropeanCommunities 1.5.86
COMMISSION REGULATION (EEC)No1277/86
of30April1986
fixingtheexportrefundsonoliveoil
naturaldevelopment ofpricesandtradeonthis
market,
—theneedtoavoiddisturbancesontheCommunity
market,and
—theeconomicaspectoftheproposedexports;
Whereas,furthermore ,Article4ofRegulationNo171/
67/EECprovidesthatthesaidrefundmustbefixedin
accordancewiththefollowingcriteria:
—theoliveoilpricesinthemainproducingareasofthe
Community ,
—themostfavourablequotationsrecordedonthe
variousmarketsofimportingthirdcountries,and
—themarketingcostsandthemostfavourabletransport
chargesfromCommunitymarketsinthemainprodu­
cingareastoportsorotherpointsofexportinthe
Community ,aswellascostsincurredinplacingthe
goodsontheworldmarket;THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,
HavingregardtotheActofAccessionofSpainand
Portugal,
HavingregardtoCouncilRegulationNo136/66/EECof
22September1966ontheestablishment ofacommon
organizationofthemarketinoilsandfats('),aslast
amendedbyRegulation (EEC)No3768/85(2),
HavingregardtoCouncilRegulationNo171/67/EECof
27June1967onexportrefundsandleviesonoliveoil(3),
aslastamendedbyRegulation(EEC)No2429/72(4),and
inparticularthefirstsentenceofArticle7thereof,
HavingregardtotheopinionoftheMonetaryCommittee,
WhereasArticle20ofRegulationNo136/66/EEC
providesthat,wherepriceswithintheCommunityare
higherthanworldmarketprices,thedifferencebetween
thesepricesmaybecoveredbyarefundwhenoliveoilis
exportedtothirdcountries;
Whereasthedetailedrulesforfixingandgrantingexport
refundsonoliveoilarecontainedinRegulationsNo
171/67/EECand(EEC)No616/72(5),aslastamendedby
Regulation(EEC)No2962/77(6);
WhereasArticle2ofRegulationNo171/67/EECprovides
thattherefundmustbethesameforthewholeCommu­
nity;
WhereasArticle3ofRegulationNo171/67/EECprovides
thatwhentherefundonoliveoilisbeingfixedaccount
mustbetakenof:
—theexistingsituationandthefuturetrendwithregard
topricesandavailabilitiesofoliveoilontheCommu­
nitymarketandpricesforoliveoilontheworld
market,
—theaimsofthecommonorganizationofthemarket
inoliveoilwhicharetoensureequilibriumandtheWhereasArticle5ofRegulationNo171/67/EECprovides
thattherefundonoliveoilmaybevariedaccordingto
destination wheretheworldmarketsituationorthe
specificrequirements ofcertainmarketsmakethisneces­
sary;
WhereasArticle7ofRegulationNo171/67/EECprovides
thattherefundmustbefixedatleastonceeverymonth;
whereasitmay,ifnecessary,bealteredintheintervening
period;
Whereasitfollowsfromapplyingthesedetailedrulesto
thepresentsituationonthemarketinoliveoilandin
particulartooliveoilpriceswithintheCommunityand
onthemarketsofthirdcountriesthattherefundshould
beassetoutintheAnnexhereto:
Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthefollowingbasis:
—inthecaseofcurrencieswhicharemaintainedinrela­
tiontoeachotheratanygivenmomentwithinaband
of2,25%,arateofexchangebasedontheircentral
rate,multipliedbythecorrectivefactorprovidedforin
thelastparagraphofArticle3(1)ofRegulation (EEC)
No1676/850,(')OJNo172,30.9.1966,p.3025/66.
(2)OJNoL362,31.12.1985,p.8.
(3)OJNo130,28.6.1967,p.2600/67.
(<)OJNoL264,23.11.1972,p.1.
MOJNoL78,31.3.1972,p.1.
(6)OJNoL348,30.12.1977,p.53. P)OJNoL164,24.6.1985,p.1.

1.5.86 OfficialJournaloftheEuropeanCommunities NoL114/27
—forothercurrencies,anexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeachof
thesecurrenciesrecordedoveragivenperiodinrela­
tiontotheCommunitycurrenciesreferredtointhe
previousindent,andtheaforesaidcoefficient;whereasthemeasuresprovidedforinthisRegulationare
inaccordancewiththeopinionoftheManagement
CommitteeforOilsandFats,
HASADOPTEDTHISREGULATION :
Article1
TheexportrefundsontheproductslistedinArticle1(2)
(c)ofRegulationNo136/66/EECshallbeassetoutin
theAnnexhereto.
Article2
ThisRegulationshallenterintoforceon1May1986.Whereas,pursuanttoArticle275oftheActofAccession
ofSpainandPortugal,refundsmaybegrantedinthecase
ofexportstoPortugal;whereas,inthelightofthesitua­
tionandthelevelofpricesnorefundshouldbefixedin
thecaseofexportstoPortugal;
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,30April1986.
FortheCommission
FransANDRIESSEN
Vice-President
ANNEX
totheCommission Regulationof30April1986fixingtheexportrefundson
oliveoil
(ECU/100kg)
CCTheadingNo Description Refund
15.07 Fixedvegetableoils,fluidorsolid,crude,refinedorpurified:
A Oliveoil:
I
(a)Untreated :
Virginoliveoil:
Inimmediatepackingsofanetcapacityof5kgorless,fordestinationsmentionedinArticle
5ofCommissionRegulation(EEC)No2730/79('),aswellasonexporttothirdcountries 67,00
II Other:
(a)Obtainedbyprocessingoilsfallingwithinsubheading15.07AIa)or15.07AIb),whetheror
notblendedwithvirginoliveoil:
Inimmediatepackingsofanetcapacityof5kgorless,fordestinationsmentionedinArticle
5ofCommissionRegulation(EEC)No2730/79('),aswellasonexporttothirdcountries 67,00
('OJNoL317,12.12.1979,p.1.