3.3.78 OfficialJournaloftheEuropeanCommunities NoL61/11
COMMISSION REGULATION (EEC)No447/78
of2March1978
fixingthecorrectiveamountapplicabletotherefundoncereals
THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ,
HavingregardtoCouncilRegulation (EEC)No
2727/7.5of29October1975onthecommonorgani­
zationofthemarketincereals('),aslastamendedby
Regulation (EEC)No2560/77(2),andinparticularthe
thirdsentenceofthesecondsubparagraph ofArticle
16(4)thereof,
HavingregardtoCouncilRegulation (EEC)No
2746/75of29October1975layingdowngeneral
rulesforgrantingexportrefundsoncerealsand
criteriaforfixingtheamountofsuchrefunds(3),
Havingregardtotheopinionof'theMonetary
Committee ,
WhereasArticle16(4)ofRegulation (EEC)No
2727/75providesthattheexportrefundapplicableto
cerealsonthedayonwhichapplicationforanexport
licenceismade,adjustedforthethresholdpricein
forceduringthemonthofexportation ,mustbe
appliedonrequesttoexportstobeeffectedduringthe
periodofvalidityoftheexportlicence;whereas,in
thiscase,thecorrectiveamountmustbeappliedto
therefund;
WhereasCouncilRegulation (EEC)No2744/75of29
October1975ontheimportandexportsystemfor
productsprocessedfromcerealsandfromrice(4),as
lastamendedbyRegulation (EEC)No2560/77,made
possiblethefixingofacorrectiveamountforcertain
productslistedinArticle 1(c)ofRegulation (EEC)No
2727/75;
WhereasRegulation (EEC)Nc1281/75(5)laiddown
detailedrulesfortheadvancefixingofexportrefunds
forcerealsandcertainproductsprocessedfrom
cereals;
Whereas,pursuanttothatRegulation ,whenthecorrec­
tiveamountisbeingfixedaccountmustbetakenof
theexistingsituationandthefuturetrendwithregard
topricesandavailabilitiesofcerealsontheCommu­nitymarketontheonehandandpricesforcereals
andcerealproductsontheworldmarketonthe
other;whereasthesameArticleprovidesthatitisalso
importanttoensureequilibriumandthenaturaldeve­
lopmentofpricesandtradeoncerealmarketsand,
furthermore ,totake-intoaccounttheeconomicaspect
oftheproposedexportsandtheneedtoavoiddistur­
bancesontheCommunitymarket;
WhereasfortheproductslistedinArticle1(c)of
Regulation (EEC)No2727/75accountshouldbe
takenofthespecificcriterialaiddowninArticle2(2)
ofRegulation (EEC)No1281/75;
Whereastheworldmarketsituationorthespecific
requirements ofcertainmarketsmaymakeitneces­
sarytovarythecorrectiveamountaccordingtodesti­
nation;
Whereasthecorrectiveamountmustbefixedatthe
sametimeastherefundandaccordingtothesame
procedure ;
Whereasitmaybealteredintheperiodbetween
fixings;
Whereas,ifthesystemofcorrectiveamountsisto
operatenormally,correctiveamountsshouldbecalcu­
latedonthefollowingbasis:
—inthecaseofcurrencies ,whicharemaintainedin
relationtoeachother,atanygivenmoment,
withinabandof2-25%,arateofexchangebased
ontheireffectiveparity;
—forothercurrenciesanexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeach
ofthesecurrenciesrecordedforagivenperiod,in
relationtotheCommunitycurrenciesreferredto
intheprecedingsubparagraph ;
Whereasitfollowsfromapplyingtheprovisions
referredtoabovethatthecorrectiveamountmustbe
fixedasshowninthetableannexedtothisRegula­
tion;
WhereasthemeasuresprovidedforinthisRegulation
areinaccordancewiththeopinionoftheManage­
mentCommitteeforCereals,(')OJNoL281,1.11.1975,p.1.
(-')OJNoL303,28.11.1977,p.1.
3)OJNoL281,1.11.1975,p.78.0OJNoL281,I.11.1975,p.65.h)OJNoL131,22.5.1975,p.15.

NoL61/12 OfficialJournaloftheEuropeanCommunities 3.3.78
HASADOPTEDTHISREGULATION :
Article1
ThecorrectiveamountreferredtoinArticle16(4)of
Regulation (EEC)No2727/75whichisapplicableto
exportrefundsfixedinadvanceinrespectofcerealsisherebyfixedasshowninthetableannexedtothis
Regulation .
Article2
ThisRegulationshallenterintoforceon3March
1978.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,2March1978.
FortheCommission
FinnGUNDELACH
Vice-President
ANNEX
totheCommissionRegulationof2March1978fixingthecorrectiveamountapplicableto
therefundoncereals
(u.a./tonne)
CCT
heading
NoDescriptionCurrent
31st
period
42nd
period
53rd
period
64th
period
75th
period
86th
period
9
10.01ACommonwheat,andmeslin 000
10.01BDurumwheat 00 0 — — — —
10.02 Rye 00000 — —
10.03 Barley 00+2.00+2.00—200 — —
10.04 Oats 000 — — — —
10.05BMaizeotherthanhybridmaize
forsowing— — — — — — —
10.07CGrainsorghum— — — — — — —
11.01ACommonwheatflour 00000 — —
11.01BRyeflour 00000 — —
11.02AIa)Durumwheatgroatsandmeal 00000 — —
11.02Alb)Commonwheatgroatsand
meal 00000 — —
N.B.ThezonesarethosedefinedinRegulation(EEC)No1124/77(OJNoL134,28.5.1977).