272 OfficialJournaloftheEuropeanCommunities
28.9.67 OFFICIAL ■JOURNALOFTHEEUROPEAN COMMUNITIES No233/9
REGULATION No633/67/EECOFTHECOMMISSION
of27September1967
ontheadvancefixingoftheexportrefundoncereals
WhereasArticle.3ofCommissionRegulationNo
473/67/EEC2onimportandexportlicencesfor
cereals,processedcerealproducts,rice,brokenrice
andprocessedriceproductsprovidesthattheexport
licenceforcommonwheatandbarleyisnormally
validfromthedateofissuethereofuntiltheendof
thethirdmonthfollowingthatinwhich•itwas
issued;whereas,however,incertaincases,theexport
,licenceforcommonwheatandbarleyisvalidfrom
thedateofissuethereofuntiltheendofthefifth
monthfollowingthatinwhichitwasissued;whereas
insuchcases,wheninformationislackingonthe
futuremarketbeyondthreemonths,theamountof
therefundfixedinadvanceforanyexporttobe
madeduringthelasttwomonthsofvalidityofthe
licenceshouldbedeterminedbyreferencetothe
amountvalidforthethirdmonth;
WhereasthemeasuresprovidedforinthisRegulation
areinaccordancewiththeOpinionofthe
ManagementCommitteeforCereals;'THECOMMISSION OFTHEEUROPEAN COM-■
MUNITIES ,
HavingregardtotheTreatyestablishingthe
EuropeanEconomicCommunity ;
HavingregardtoCouncilRegulationNo
120/67/EEC1of13June1967onthecommon
organisationofthemarketincereals,andin
particularArticle16(6)thereof;
WhereasArticle16oftheabove-mentioned
Regulationprovidesthat,forexportsofcereals,the
differencebetweenquotationsorpricesontheworld
marketandpricesintheCommunitymaybecovered
byanexportrefundwhichmaybefixedinadvance;
whereas,inthecaseofadvancefixing,therefund
mustbeadjustedforthethresholdpricewhichwill
beinforceduringthemonthinwhichexporttakes
placeandacorrectiveamount,fixedatthesame
time,mustbeappliedtotherefund;*
Whereas,inordertoassesstheamountofthe.refund
tobegrantedwhenthisisfixedinadvance,the
variationinworldmarketpriceswhichmayoccur
betweenthedayonwhichtheapplicationforthe
licenceismadeandthemonthinwhichexporttakes
placehastobeestimated;whereasthec.i.f.forward
deliverypricereflectsthisvariationandenablesthe
amountbywhichtherefundvalidonthedayon
whichtheapplicationforthelicenceismadetobe
reducedorincreased;
Whereasitwouldbeinadvisablefortheamountof
refundstovarytoofrequently,thuscausing
uncertaintyforthoseentitledtothem,merelyasa
resultofsmallchangesinworldmarketquotations,
whereas,therefore,withoutharmingtheinterestsof
thoseentitled,alimitshouldbesetwithinwhich
variationsinthesequotationsdonotaffectthe
amountoftherefund;HASADOPTED THISREGULATION :
Article1
Whentheexportrefundmentionedinthefirst
subparagraph ofArticle16(4)ofRegulationNo
120/67/EECisfixedinadvance,therefundshallbe
thatwhichisapplicabletoanexportontheday.on
whichthelicenceisappliedfor:
—reducedbynotmorethanthedifferencebetween
thec.i.f.forwarddeliverypriceandthec.i.f.price
wheretheformerexceedsthelatterbymorethan
oneunitofaccountpermetricton,
—increasedbynotmorethanthedifference
betweenthec.i.f.priceandthec.i.f.forward
deliverypricewheretheformerexceedsthelatter
bymorethanoneunitofaccountpermetricton.
Intheintervalsbetweenweeklyfixings,therefund
applicableinthecaseofadvancefixingshallbe
adjustedonlywhenapplicationoftheabove1OJNo117,19.6.1967,p.2269/67.
2OJNo204,24.8.1967,p.16.

OfficialJournaloftheEuropeanCommunities 273
inwhichitwasissued,theamountoftherefund
fixedinadvanceinrespectofanexportofcommon
wheatandbarleyeffectedduringthe'lasttwomonths
ofvalidityoftheexportlicenceshall,without
prejudicetotheadjustmentprovidedforinArticle
16(4)ofRegulationNo120/67/EEC,beequalfor
eachproducttothatapplyingtoanexporteffected
duringthethirdmonthfollowingthatinwhichthe
licencewasissued.provisionswouldleadtoitsamountbeingalteredby
morethan0-125unitsofaccountpermetricton.
Thec.i.f.priceforthispurposeshallbethat
calculatedinaccordancewithArticle3ofRegulation
No120/67/EEC.
Thec.i.f.forwarddeliverypriceforthispurposeshall
bethatcalculatedinaccordancewithArticle3(2)of
RegulationNo140/67/EECbased,however,in
respectofeachmonthforwhichtheexportlicenceis
valid,onthec.i.f.pricecalculatedonthebasisof
offersforshipmentduringthemonthinwhichthe
exportwillbeeffected.Article3
Article2CommissionRegulationNo196/67/EECof28June
1967ontheadvancefixingoftheexportrefundon
cerealsisherebyrepealed.
ThisRegulationshallenterintoforceonthethird
dayfollowingitspublicationintheOfficialJournal­
oftheEuropeanCommunities .Wheretheexportlicenceisvalidfromthedateof
issueuntiltheendofthefifthmonthfollowingthat
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,27September1967.
FortheCommission
ThePresident
JeanREY