NoL303/8 OfficialJournaloftheEuropeanCommunities1.11.73
REGULATION (EEC)No2962/73OFTHECOMMISSION
of31October1973
fixingthecorrectiveamountapplicabletotherefundoncereals
THECOMMISSION OFTHEEUROPEAN
COMMUNITIES ,whereasthecifforwarddeliverypriceisthatdeter­
minedinaccordancewithArticle3(2)ofRegulation
No140/67/EEC(5),asamendedbyRegulation (EEC)
No2435/70(6),based,inrespectofeachmonthfor
whichtheexportlicenceisvalid,onthecifprice
calculatedonthebasisofoffersforshipmentduring
themonthofexportation ;HavingregardtotheTreatyestablishingtheEuropean
EconomicCommunity ;
HavingregardtoCouncilRegulationNo120/
67/EEC(')of13June1967onthecommonorganiza­
tionofthemarketincereals,aslastamendedbyRegu­
lation(EEC)No1346/73(2),andinparticularthe
thirdsentenceofthefirstsubparagraphofArticle16
(4)thereof;Whereasthecorrectiveamountsofixedwillbealtered
ifapplicationofthecalculationproceduredescribed
aboveentailsachangeinthatamountofmorethan
0-125unitofaccount;
HavingregardtotheOpinionoftheMonetary
Committee ;
WhereasArticle16(4)ofRegulationNo120/67/EEC
providesthattheexportrefundapplicabletocereals
onthedayonwhichapplicationforanexportlicence
ismade,adjustedforthethresholdpriceinforce
duringthemonthofexportation ,mustbeapplied_on
requesttoexportstobeeffectedduringtheperiodof
validityoftheexportlicence;whereas,inthiscase,a
correctiveamountmustbeappliedtotherefund;
WhereasRegulationNo633/67/EEC(3),aslast
amendedbyRegulation (EEC)No1461/72(4),lays
downdetailedrulesfortheadvancefixingofthe
exportrefundoncereals;
WhereasthatRegulationprovidesthattherefund
applicableonthedayon-whichapplicationforan
exportlicence,ismademust,whentherefundisfixed
inadvance,bereducedbynotmorethatthediffer­
encebetweenthecifforwarddeliverypriceandthecif
pricewheretheformerexceedsthelatterbymore
thanoneunitofaccountpermetricton;whereas,on
theotherhand,therefundmustbeincreasedbynot
morethanthedifferencebetweenthecifpriceand
thecifforwarddeliverypricewheretheformer
exceedsthelatterbymorethanoneunitofaccount
permetricton;Whereas,however,Article2ofRegulationNo633/
67/EECprovidesthatthecorrectiveamountappli­
cabletotheamountoftherefundfixedinadvanceon
exportstobeeffectedafterthethirdmonthfollowing
thatduringwhichthelicencewasissuedshouldbe
fixedonthebasisofforeseeablemarkettrends;
whereastothisendaccountshouldbetakenofavail­
abilitiesandforeseeabletrendsontheCommunity
marketandofforwardtrendsontheworldmarket,in
particularonthosemarketswhosespecificrequire­
mentshavemadeitnecessarytovarytherefund;
Whereas,iftherefundsystemistooperatenormally,
refundsshouldbecalculatedonthefollowingbasis:
—inthecaseofcurrencieswhicharemaintained in
relationtoeachother,atanygivenmoment,
withinabandof2-25%,arateofexchangebased
ontheireffectiveparity;
—forothercurrenciesanexchangeratebasedonthe
arithmeticmeanofthespotmarketratesofeach
ofthesecurrenciesrecordedforagivenperiod,in
relationtotheCommunitycurrenciesreferredto
intheprevioussubparagraph ;
Whereasitfollowsfromapplyingalltheseprovisions
thatthecorrectiveamountmustbefixedasshownin
theTableannexedtothisRegulation ;
Whereasthecifpriceisthatdeterminedinaccor­
dancewithArticle13ofRegulationNo120/67/EEC;WhereasthemeasuresprovidedforinthisRegulation
areinaccordancewiththeOpinion"oftheManage­
mentCommitteeforCereals;(')OJNo117,19.6.1967,p.2269/67.
(-')O)NoL141,28.5.1973,p.8.
(•"')O'lNo233,28.9.1967,p.9.
(■>)O'lNoL155,11.7.1972,p.35.'(5)OJNo125,26.6.1967,p.2456/67.
(b)OJNoL262,-3.12.1970,p.3.

1.11.73 OfficialJournaloftheEuropeanCommunities NoL303/9
HASADOPTEDTHISREGULATION :
Article1herebyfixedasshownintheTableannexedtothis
Regulation .
Article2
ThecorrectiveamountreferredtoinArticle16(4)of
RegulationNo120/67/EECwhichisapplicableto
exportrefundsfixedinadvanceinrespectofcerealsisThisRegulationshallenterintoforceon1November
1973.
ThisRegulationshallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,31October1973.
FortheCommission
P.J.LARDINOIS
MemberoftheCommission
ANNEX
totheCommissionRegulationof31October1973fixingthecorrectiveamountapplicable
totherefundoncereals
(u.a./ton)
CCT
heading1st 2nd3rd 4th 5th 6th
DescriptionofgoodsCurrent periodperiodperiodperiodperiodperiod
No11 12 1 2 3 4 5
10.01ACommonwheat,andmes­
iin — — — — — — —
10.01BDurumwheat — — — ■ — — — —
10.02 Rye— — — — — — —
10.03 Barley— — — — — — —
10.04 Oats — ——' — — — —
10.05BMaizeotherthanhybrid
maizeforsowing— — — — —' — —
10.07CGrainsorghum