16.3.73 OfficialJournaloftheEuropeanCommunities NoL69/5
REGULATION (EEC)No723/73OFTHECOMMISSION
of15March1973
fixingthecorrectiveamountapplicabletotherefundoncereals
byRegulation (EEC)No2435/70(7),based,inres­
pectofeachmonthforwhichtheexportlicenceis
valid,onthecifpricecalculatedonthebasisof
offersforshipmentduringthemonthofexport­
ation;
Whereasthecorrectiveamountsofixedwillbeal­
teredifapplicationofthecalculationprocedure
describedaboveentailsachangeinthatamountof
morethan0·125unitofaccount;
WhereashoweverArticle2ofRegulationNo
633/67/EECprovidesthatthecorrectiveamount
applicabletotheamountoftherefundfixedin
advanceonexportstobeeffectedafterthethird
monthfollowingthatduringwhichthelicencewas
issuedshouldbefixedonthebasisofforeseable
markettrends;whereastothisendaccountshould
betakenofavailabilities andforeseeabletrendson
theCommunitymarketandofforwardtrendson
theworldmarket,inparticularonthosemarkets
whosespecificrequirementshavemadeitnecessary
tovarytherefund;
Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthebasisofan
exchangeratewhichisbased,inthecaseofcurrencies
whicharefloatingorwhosecentralratediffersfrom
theofficialparity,ontheeffectiverateorthe
centralrateofthesecurrenciesand,inthecaseof
theUSdollar,onthechangeinparityannounced
on13February1973;
Whereasitfollowsfromapplyingallthesepro­
visionsthatthecorrectiveamountmustbefixedas
shownintheTableannexedtothisRegulation ;
WhereasthemeasuresprovidedforinthisRegula­
tionareinaccordancewiththeOpinionofthe
ManagementCommitteeforCereals;
HASADOPTED THISREGULATION :THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuro­
peanEconomicComunity;
HavingregardtoCouncilRegulationNo
120/67/EEC(x)of13June1967onthecommon
organizationofthemarketincereals,aslastamen­
dedbytheAct(2)annexedtotheTreaty(3)onthe
AccessionofnewMemberStatestotheEuropean
EconomicCommunityandtheEuropeanAtomic
EnergyCommunity ,signedatBrusselson22January
1972,andinparticularthethirdsentenceofthefirst
subparagraph ofArticle16(4)thereof;
HavingregardtotheOpinionoftheMonetary
Committee ;
WhereasArticle16(4)ofRegulationNo120/67/
EECprovidesthattheexportrefundappli­
cabletocerealsonthedayonwhichapplication
foranexportlicenceismade,adjustedforthe
thresholdpriceinforceduringthemonthofex­
portationmustbeappliedonrequesttoexportsto
beeffectedduringtheperiodofvalidityoftheex­
portlicence;whereas,inthiscase,acorrective
amountmustbeappliedtotherefund;
WhereasRegulationNo633/67/EEC(4),aslast
amendedbyRegulation (EEC)No1461/72(5),lays
downdetailedrulesfortheadvancefixingofthe
exportrefundoncereals;
WhereasthatRegulationprovidesthattherefund
applicableonthedayonwhichapplicationfora
exportlicenceismademustwhentherefundis
fixedinadvance,bereducedbynotmorethatthe
differencebetweenthecifforwarddeliveryprice
andthecifpricewheretheformerexceedsthe
latterbymorethanoneunitofaccountpermetric
ton;whereas,ontheotherhand,therefundmust
beincreasedbynotmorethanthedifferencebe­
tweenthecifpriceandthecifforwarddelivery
pricewheretheformerexceedsthelatterbymore
thanoneunitofaccountpermetricton;
Whereasthecifpriceisthatdeterminedinac­
cordancewithArticle13ofRegulationNo
120/67/EEC;whereasthecifforwarddelivery
priceisthatdeterminedinaccordancewithArticle
3(2)ofRegulationNo140/67/EEC(6),asamendedArticle1
ThecorrectiveamountreferredtoinArticle16(4)
ofRegulationNo120/67/EECwhichisapplicable
toexportrefundsfixedinadvanceinrespectof
cerealsisherebyfixedasshownintheTablean­
nexedtothisRegulation .
Article2
(1)OJNo117,19.6.1967,p.2269/67.
ThisRegulationshallenterintoforceon16March
1973.(2)OJNoL73,27.3.1972,p.14.
(s)OJNoL73,27.3.1972,p.5.
(4)OJNo233,28.9.1967,p.9.
(5)OJNoL155,11.7.1972,p.35.
(«)OJNo125,26.6.1967,p.2456/67. (7)OJNoL262,3.12.1970,p.3.

NoL69/6 OfficialJournaloftheEuropeanCommunities 16.3.73
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
Stares.
DoneatBrussels,15March1973.
FortheCommission
P.J.LARDINOIS
MemberoftheCommission
ANNEX
totheCommissionRegulationof15March1973fixingthecorrectiveamountapplicable
totherefundoncereals(x)
(i*.U.>ton■
CCT
heading
NoDescriptionofgoodsCurrent
31st
period
42nd
period
53rd
period
64th
period
75th
period
86th
period
9
10.01A
10.01B
10.02
10.03
10.04
10.05B
10.07CCommonwheat,andmes­
lin
Durumwheat
Rye
Barley
Oats
Maizeotherthanhybrid
maizeforsowing
Grainsorghum
0)AdvancefixingoftherefundsissuspendedinaccordancewithRegulation (EEC)No646/73(OJNoL61,7.3.1973,p.17),asamended
byRegulation (EEC)No701/73(OJNoL67,14.3.1973,p.17).