14.2.75 OfficialJournaloftheEuropeanCommunities NoL40/55
REGULATION (EEC)No367/75OFTHECOMMISSION
of13February1975
fixingthecorrectiveamountapplicabletotherefundoncereals
whereasthecifforwarddeliverypriceisthatdeter­
minedinaccordancewithArticle3(2)ofRegulation
No140/67/EEC(5),asamendedbyRegulation(EEC)
No2435/70(6),based,inrespectofeachmonthfor
whichtheexportlicenceisvalid,onthecifprice
calculatedonthebasisofoffersforshipmentduring
themonthofexportation ;
Whereasthecorrectiveamountsofixedwillbealtered
ifapplicationofthecalculationproceduredescribed
aboveentailsachangeinthatamountofmorethan
0-125unitofaccount;
Whereas,however,Article2ofRegulationNo633/
67/EECprovidesthatthecorrectiveamountappli­
cabletotheamountoftherefundfixedinadvanceon
exportstobeeffectedafterthethirdmonthfollowing
thatduringwhichthelicencewasissuedshouldbe
fixedonthebasisofforeseeablemarkettrends;
whereastothisendaccountshouldbetakenofavail­
abilitiesandforeseeabletrendsontheCommunity
marketandofforwardtrendsontheworldmarket,in
particularonthosemarketswhosespecificrequire­
mentshavemadeitnecessarytovarytherefund;THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ;
HavingregardtoCouncilRegulationNo120/
67/EEC(')of13June1967onthecommonorganiza­
tionofthemarketincereals,aslastamendedbyRegu­
lation(EEC)No85/75(2),andinparticularthethird
sentenceofthesecondsubparagraph ofArticle16(4)
thereof;
HavingregardtotheOpinionoftheMonetary
Committee ;
WhereasArticle16(4)ofRegulationNo120/67/EEC
providesthattheexportrefundapplicabletocereals
onthedayonwhichapplicationforanexportlicence
ismade,adjustedforthethresholdpriceinforce
duringthemonthofexportation,mustbeappliedon
requesttoexportstobeeffectedduringtheperiodof
validityoftheexportlicence;whereas,inthiscase,a
correctiveamountmustbeappliedtotherefund;
WhereasRegulationNo633/67/EEC(3),aslast
amendedbyRegulation (EEC)No1461/72(4),lays
downdetailedrulesfortheadvancefixingofthe
exportrefundoncereals;
WhereasthatRegulationprovidesthattherefund
applicableonthedayonwhichapplicationforan
exportlicenceismademust,whentherefundisfixed
inadvance,bereducedbynotmorethatthediffer­
encebetweenthecifforwarddeliverypriceandthecif
pricewheretheformerexceedsthelatterbymore
thanoneunitofaccountpermetricton;whereas,on
theotherhand,therefundmustbeincreasedbynot
morethanthedifferencebetweenthecifpriceand
thecifforwarddeliverypricewheretheformer
exceedsthelatterbymorethanoneunitofaccount
permetricton;
Whereasthecifpriceisthatdeterminedinaccor­
dancewithArticle13ofRegulationNo120/67/EEC;Whereas,iftherefundsystemistooperatenormally,
refundsshotildbecalculatedonthefollowingbasis:
—inthecaseofcurrencieswhicharemaintainedin
relationtoeachother,atanygiven*moment,
withinabandof2-25%,arateofexchangebased
ontheireffectiveparity;
—forothercurrenciesanexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeach
ofthesecurrenciesrecordedforagivenperiod,in
relationtotheCommunitycurrenciesreferredto
intheprevioussubparagraph ;
Whereasitfollowsfromapplyingalltheseprovisions
thatthecorrectiveamountmustbefixedasshownin
theTableannexedtothisRegulation ;
WhereasthemeasuresprovidedforinthisRegulation
areinaccordancewiththeOpinionoftheManage­
mentCommitteeforCereals,(')OJNo117,19.6.1967,p.2269/67.
(2)OJNoL11,16.1.1975,p.1.
(5)OJNo125,26.6.1967,p.2456/67. (})OJNo233,28.9.1967,p.9.
(4)OJNoL155,11.7.1972,p.35. (6)OJNoL262,3.12.1970,p.3.

NoL40/56 14.2.75 OfficialJournaloftheEuropeanCommunities
HASADOPTED THISREGULATION :
Article1
ThecorrectiveamountreferredtoinArticle16(4)of
RegulationNo120/67/EECwhichisapplicableto
exportrefundsfixedinadvanceinrespectofcerealsisherebyfixedasshownintheTableannexedtothis
Regulation .
Article2
ThisRegulationshallenterintoforceon14February
1975.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,13February1975.
FortheCommission
P.J.LARDINOIS
MemberoftheCommission
ANNEX
totheCommissionRegulationof13February1975fixingthecorrectiveamountappli­
cabletotherefundoncereals
(u.a./metricton)
CCT
heading
NoDescriptionofgoodsCurrent
21st
period
32nd
period
43rd
period
54th
period
65th
period
76th
period
8
10.01ACommonwheat,andmeslin— — — — — — —
10.01BDurumwheat — — — — — — —
10.02 Rye— — — — ■— — —
10.03 Barley— — — — — — —
10.04 Oats — — — — — — —
10.05BMaizeotherthanhybridmaize
forsowing— — — — — — —
10.07CGrainsorghum— — — — — — —