25.10.74 OfficialJournaloftheEuropeanCommunities NoL288/35
REGULATION (EEC)No2696/74OFTHECOMMISSION
of24October1974
fixingthecorrectiveamountapplicabletotherefundoncereals
whereastheciftorwarddeliverypriceisthatdeter­
minedinaccordancewithArticle3(2)ofRegulation
No140/67/EEC(5),asamendedbyRegulation (EEC)
No2435/70(6),based,inrespectofeachmonthfor
whichtheexportlicenceisvalid,onthecifprice
calculatedonthebasisofoffersforshipmentduring
themonthofexportation ;
Whereasthecorrectiveamountsofixedwillbealtered
ifapplicationofthecalculationproceduredescribed
aboveentails«changeinthatamountofmorethan
0-125unitofaccount;THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ;
HavingregardtoCouncilRegulationNo120/
67/EEC(')of13June1967onthecommonorganiza­
tionofthemarketincereals,aslastamendedbyRegu­
lation(EEC)No1996/74(2),andinparticularthe
thirdsentenceofthesecondsubparagraph ofArticle
16(4)thereof;
HavingregardtotheOpinionoftheMonetary
Committee ;
WhereasArticle16(4)ofRegulationNo120/67/EEC
providesthattheexportrefundapplicabletocereals
onthedayonwhichapplicationforanexportlicence
ismade,adjustedforthethresholdpriceinforce
duringthemonthofexportation ,mustbeappliedon
requesttoexportstobeeffectedduringtheperiodof
validityoftheexportlicence;whereas,inthiscase,a
correctiveamountmustbeappliedtotherefund;
WhereasRegulationNo633/67/EEC(-'),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,however,Article2ofRegulationNo633/
67/EECprovidesthatthecorrectiveamountappli­
cabletotheamountoftherefundfixedinadvanceon
exportstobeeffectedafterthethirdmonthfollowing
thatduringwhichthelicencewasissuedshouldbe
fixedonthebasisofforeseeablemarkettrends;
whereastothisendaccountshouldbetakenofavail­
abilitiesandforeseeabletrendsontheCommunity
marketandofforwardtrendsontheworldmarket,in
particularonthosemarketswhosespecificrequire­
mentshavemadeitnecessarytovarytherefund;
Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthefollowingbasis:
—inthecaseofcurrencieswhicharemaintained in
relationtoeachother,atanygivenmoment,
withinabandof225%,arateofexchangebased
ontheireffectiveparity;
—forothercurrenciesanexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeach
ofthesecurrenciesrecordedforagivenperiod,in
relationtotheCommunity currenciesreferredto
intheprevioussubparagraph ;
Whereasitfollowsfromapplyingalltheseprovisions
thatthecorrectiveamountmustbefixedasshownin
theTableannexedtothisRegulation ;
WhereasthemeasuresprovidedforinthisRegulation
areinaccordancewiththeOpinionoftheManage­
mentCommittee forCereals,(')0|No117,I9.6.1967,p.2269/67.
(')O)NoL209,31.7.1974,p.I.
(')0(No23.?,28.9.1967,p.9.
('»)O)No1.155,11.7.1972,p.35.p)0|No12\26.6.!p.2456»/
((l)O|NoLIbl,v12.n.V

NoL288/36 OfficialJournaloftheEuropeanCommunities 25.10.74
HASADOPTED THISREGULATION :
Article1
ThecorrectiveamountreferredtoinArticle16(4)of
RegulationNo120/67/EECwhichisapplicableto
exportrefundsfixedinadvanceinrespectofcerealsisherebyfixedasshownintheTableannexedtothis
Regulation .
Article2
ThisRegulationshallenterintoforceon25October
1974.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,24October1974.
FortheCommission
P.J.LARDINOIS
MemberoftheCommission
ANNEX
totheCommissionRegulationof24October1974fixingthecorrectiveamountapplicable
totherefundoncereals
(u.a./ton)
CCT
heading
NoDescriptionofgoodsCurrent
K)1st
period
II2nd
period
123rd
period
I4th
period
25th
period
.?6th
period
4
10.01ACommonwheat,andmesiin—
10.01BDurumwheat — — — — — — —
10.02 Rye— — — — — — —
10.03
10.04Barley
Oats— —
10.05BMaizeotherthanhybridmaize
forsowing
10.07CGrainsorghum— — — — — — —