OfficialJournaloftheEuropeanCommunities 3
NoL173/30 OfficialJournaloftheEuropeanCommunities 6.8.70
FINANCIAL REGULATION
of27July1970
relatingtotheFundfortheimplementation ofspecialprovisionsapplicabletooilproducts
originatingintheAssociatedAfricanStatesandMadagascarorintheOverseasCountries
andTerritories
(70/385/EEC)
THECOUNCILOFTHEEUROPEANCOMMUNITIES ,accordancewiththeprovisionsoftheDecisionandof
thisRegulation .
Article3
Duringthefourmonthsfollowingtheexpiryofthepe­
riodslaiddowninArticle2(3)oftheDecision,andon
thebasisofthecommunications providedforinArticle
2(4)ofthatDecision,theCommissionshallestablish
andcommunicatetotheMemberStatesthetotalpay­
mentstobemadeandgivedetailsofthemethodforcal­
culatingthattotal.Itshallatthesametimenotifyeach
MemberStateoftheamountofitscontribution ,calculat­
edinaccordancewiththescaleprovidedinArticle6(1)
oftheDecision.EachMemberStateshallremititscon­
tributionwithin30daysofnotification .
Article4HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity,andinparticularArticle209
thereof;
HavingregardtotheDecisionof25July19671ofthe
Representatives oftheGovernments oftheMember
StatesoftheEuropeanEconomicCommunity,meeting
withintheCouncil,layingdownspecialprovisionsappli­
cabletooilproductsoriginatingintheAssociatedAfri­
canStatesandMadagascarorintheOverseasCountries
andTerritories(hereinaftercalledthe'Decision'),andin
particularArticles1,3and6thereof;
HavingregardtotheproposalfromtheCommission ;
WhereasArticle6oftheDecisionprovidesthatthecon­
tributionsfromtheMemberStatesshallbeadministered
bytheCommissioninaccordancewithrulestobelaid
downbytheCouncilinaFinancialRegulation;
Whereas,therefore,provisionshouldbemadeforthe
creationofaFundandfortherulesgoverningitsopera­
tion,whichshallalsocontainthemeasuresforimple­
mentingtheDecision,
HASADOPTEDTHISFINANCIAL REGULATION :
Article1
ThecontributionsplacedatthedisposaloftheCommis­
sionbytheMemberStatesinaccordancewithArticle6
oftheDecisionshallbedepositedina'FundfortheIm­
plementationofSpecialProvisionsapplicabletoOil
ProductsoriginatingintheAASMorintheOCT
(hereinaftercalledthe'FundfortheSupportofOil
Products');itsrevenueandexpenditureshallbeinbal­
ance.ThecontributionsofeachMemberStateshallbedeposit­
edinaspecialaccountcalled'CommissionoftheEuro­
peanCommunities -FundfortheSupportofOilProd­
ucts'withtheTreasuryofthatMemberStateorwitha
bodydesignatedbyit.
Theamountsdepositedinsuchaccountsshallretainthe•
valuecorresponding totheparity,atthedateofdeposit,
inrelationtotheunitofaccountreferredtoinArticle5
oftheDecision.
Articles
TheCommission shallmaintainineachMemberState
withtheissuingbankorfinancialinstitutiondesignated
bythatMemberState,accountsbearingthesamedesig­
nationasthosewhichhavebeenopenedinaccordance
withArticle4.
Article6
Articles
TheCommissionshalladministertheFundfortheSup­
portofOilProductsunderitsownresponsibilityandinWheretheCouncildecidestohaverecoursetoArticle4
oftheDecision,itshallatthesametimetakeanydeci­
sionswhichmayberequiredregardingthecreditingof
theamountsinquestiontotheFundfortheSupportof
OilProducts.TheprovisionsofthisRegulationshall
applytotheadministration ofthoseamounts. OJNo173,29.8.1967 ,p.14.

4 OfficialJournaloftheEuropeanCommunities
Article7 theFinancialRegulationsrelatingtotheCommission's
operatingbudgetshallapplytoexpenditurefromthe
FundfortheSupportofOilProducts.
Article9On31DecembereachyeartheCommissionshalldraw
upanaccountofrevenueandexpenditurewhichitshall
submittotheAuditBoardprovidedforinArticle206of
theTreatybefore31Marchofthefollowingyear.
Thisrevenueandexpenditureaccounttogetherwiththe
reportoftheAuditBoardontheoperationsoftheFund
shallbecommunicated totheCouncilandtotheEuro­
peanParliament.TheCouncilshallgiveadischargeto
theCommissionconcerningtheadministration ofthe
Fund.ThisFinancialRegulationshallenterintoforceonthe
twentiethdayfollowingitspublicationintheOfficial
JournaloftheEuropeanCommunities .
ArticlesDoneatBrussels,27July1970.
FortheCouncil
ThePresident
W.ARENDTSubjecttothespecialprovisionsprovidedforintheDe­
cisionandinthisRegulation,thegeneralprovisionsof
ANNEX
DECLARATION
bytheRepresentatives oftheGovernmentsoftheMemberStatesoftheEuropeanEconomicCommuni­
ty,meetingwithindieCouncil,concerningtheFinancialRegulationoftheCouncilrelatingtotheFund
fortheImplementation ofSpecialProvisionsapplicableto00ProductsoriginatingintheAASMorin
theOCT.
ThelastnotificationwithinthemeaningofArticle8oftheDecisionof25July1967wasmadeon6
July1970andtheRepresentatives oftheGovernmentsoftheMemberStatesmeetingwithintheCoun­
cil,inviewoftheprovisionswhichhavetobeimplementedfortheapplicationofthatDecision,have
agreeduponthefollowingtime-limitstooperatefromthedateofentryintoforceoftheFinancialRegu­
lationrelatingtotheFundfortheImplementation oftheSpecialProvisionsapplicabletoOilProducts
originatingintheAASMorintheOCT,whichwilltakeeffectonthetwentiethdayfollowingthepubli­
cationofthatRegulationintheOfficialJournaloftheEuropeanCommunities:
-30daysforthecommunication bytheMemberStatestotheCommissionoftheinformationreferred
toinArticle2(4)oftheDecision;
-90daysforthecommunications andnotificationsbytheCommissionunderArticle3oftheFinan­
cialRegulation;inanycase.aperiodof21daysisprovidedforbetweenthedateofthelastcommu­
nicationmentionedinthefirstindentandthecommunications andnotifications mentionedinthis
indent.
TheMemberStatesshallremittheircontributionswithin30daysfollowingthenotificationfromthe
Commission .