15.6.73 OfficialJournaloftheEuropeanCommunities NoL158/5
REGULATION (EEC)No1575/73OFTHECOMMISSION
of14June1973
fixingthecorrectiveamountapplicabletotherefundoncereals
THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,
HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ;
HavingregardtoCouncilRegulationNo120/
67/EEC(*)of13June1967onthecommonorganiza­
tionofthemarketincereals,aslastamendedbythe
Act(2)annexedtotheTreaty(3)ontheAccessionof
newMemberStatestotheEuropeanEconomic
Community andtheEuropeanAtomicEnergy
Community ,signedatBrusselson22January1972,
andinparticularthethirdsentenceofthefirstsub­
paragraphofArticle16(4)thereof;
WhereasArticle16(4)ofRegulationNo120/67/EEC
providesthattheexportrefundapplicabletocereals
onthedayonwhichapplicationforanexportlicence
ismade,adjustedforthethresholdpriceinforce
duringthemonthofexportation,mustbeappliedon
requesttoexportstobeeffectedduringtheperiodof
validityoftheexportlicence;whereas,inthiscase,a
correctiveamountmustbeappliedtotherefund;
WhereasRegulationNo633/67/EEC(4),aslast
amendedbyRegulation (EEC)No1461/72(5),lays
downdetailedrulesfortheadvancefixingofthe
exportrefundoncereals;
WhereasthatRegulationprovidesthattherefund
applicableonthedayonwhichapplicationforan
exportlicenceismademust,whentherefundisfixed
inadvance,bereducedbynotmorethatthediffer­
encebetweenthecifforwarddeliverypriceandthecif
pricewheretheformerexceedsthelatterbymore
thanoneunitofaccountpermetricton;whereas,on
theotherhand,therefundmustbeincreasedbynot
morethanthedifferencebetweenthecifpriceand
thecifforwarddeliverypricewheretheformer
exceedsthelatterbymorethanoneunitofaccount
permetricton;
Whereasthecifpriceisthatdeterminedinaccor­
dancewithArticle13ofRegulationNo120/67/EEC;whereasthecifforwarddeliverypriceisthatdeter­
minedinaccordancewithArticle3(2)ofRegulation
No140/67/EEC(6),asamendedbyRegulation (EEC)
No2435/70(7),based,inrespectofeachmonthfor
whichtheexportlicenceisvalid,onthecifprice
calculatedonthebasisofoffersforshipmentduring
themonthofexportation ;
Whereasthecorrectiveamountsofixedwillbealtered
ifapplicationofthecalculationproceduredescribed
aboveentailsachangeinthatamountofmorethan
0·125unitofaccount;
Whereas,however,Article2ofRegulationNo633/
67/EECprovidesthatthecorrectiveamountappli­
cabletotheamountoftherefundfixedinadvanceon
exportstobeeffectedafterthethirdmonthfollowing
thatduringwhichthelicencewasissuedshouldbe
fixedonthebasisofforeseeablemarkettrends;
whereastothisendaccountshouldbetakenofavail­
abilitiesandforeseeabletrendsontheCommunity
marketandofforwardtrendsontheworldmarket,in
particularonthosemarkets(whosespecificrequire­
mentshavemadeitnecessarytovarytherefund;
Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthefollowingbasis:
—inthecaseofcurrencieswhicharemaintainedin
relationtoeachother,atanygivenmoment,
withinabandof2·25%,arateofexchangebased
ontheireffectiveparity;
—forothercurrenciesanexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeach
ofthesecurrenciesrecordedforagivenperiod,in
relationtotheCommunitycurrenciesreferredto
intheprevioussubparagraph ;
WhereastheOpinionoftheMonetaryCommitteewas
requested ;
Whereasitfollowsfromapplyingalltheseprovisions
thatthecorrectiveamountmustbefixedasshownin
theTableannexedtothisRegulation ;
WhereasthemeasuresprovidedforinthisRegulation
areinaccordancewiththeOpinionoftheManage­
mentCommitteeforCereals;(!)OJNo117,19.6.1967,p.2269/67.
(2)OJNoL73,27.3.1972,p.14.
P)OJNoL73,27.3.1972,p.5.
(4)OJNo233,28.9.1967,p.9.
(5OJNoL155,11.7.1972,p.35.OJNo125,26.6.1967,p.2456/67.
(7OJNoL262,3.12.1970,p.3.

NoL158/6 OfficialJournaloftheEuropeanCommunities 15.6.73
HASADOPTED THISREGULATION : herebyfixedasshownintheTableannexedtothis
Regulation .
Article1
Article2ThecorrectiveamountreferredtoinArticle16(4)of
RegulationNo120/67/EECwhichisapplicableto
exportrefundsfixedinadvanceinrespectofcerealsisThisRegulationshallenterintoforceon15June
1973.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,14June1973.
FortheCommission
P.J.LARDINOIS
AiemberoftheCommission
ANNEX
totheCommissionRegulationof14June1973fixingthecorrectiveamountapplicable
totherefundoncereals
(u.aJton)
CCT
heading
NoDescriptionofgoodsCurrent
61st
period
72nd
period
83rd
period
94th
period
105th
period
116th
period
12
10.01A
10.01B
10.02
10.03
10.04
10.05B
10.07CCommonwheat,andmes­
lin
Durumwheat
Rye
Barley
Oats
Maizeotherthanhybrid
maizeforsowing
Grainsorghum