Commission Regulation (EC) No 1119/2005 of 14 July 2005 amending Regulation (EC) No 1751/2004 fixing the interest rates to be used for calculating the costs of financing intervention measures comprising buying-in, storage and disposal for the EAGGF Guarantee Section accounting year 2005
Date: 2005-07-14
Institutions: European Commission
Subjects: EAGGF Guarantee Section, interest, intervention agency, intervention buying, intervention stock

15.7.2005

EN

Official Journal of the European Union

L 184/27

COMMISSION REGULATION (EC) No 1119/2005

of 14 July 2005

amending Regulation (EC) No 1751/2004 fixing the interest rates to be used for calculating the costs
of financing intervention measures comprising buying-in, storage and disposal for the EAGGF
Guarantee Section accounting year 2005

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty
Community,

establishing the European

(3)

(4)

As the amendments to Regulations (EEC) No 1883/78
and (EEC) No 411/88 apply from 1 October 2004, that
same date of application should apply to this Regulation.

The measures provided for in this Regulation are in
accordance with the opinion of the EAGGF Committee,

Having regard to Council Regulation (EEC) No 1883/78 of
2 August 1978 laying down general rules for the financing of
interventions by the European Agricultural Guidance and
and in
Guarantee
particular the first paragraph of Article 5 thereof,

Fund (EAGGF) Guarantee

Section (1),

HAS ADOPTED THIS REGULATION:

Article 1

Article 1 of Regulation (EC) No 1751/2004 is replaced by the
following:

Whereas:

‘Article 1

(1)

(2)

Commission Regulation (EC) No 1751/2004 (2) fixes for
the 2005 EAGGF Guarantee Section accounting year the
interest rates to be used to calculate the cost of financing
intervention measures under Articles 3 and 4 of
Commission Regulation (EEC) No 411/88 on the
method and the rate of interest to be use for calculating
the cost of financing intervention measures comprising
buying-in, storage and disposal (3).

As Article 5 of Regulation (EEC) No 1883/78 and Article
4 of Regulation (EEC) No 411/88 have been amended as
regards the procedures for notifying and taking account
of the average rate of the interest costs borne by the new
Member States in 2004 and as regards the method of
calculating the specific interest rate for the Member States
whose average interest cost rate is higher than double the
standard interest rate established for the Community, the
interest rates fixed by Regulation (EC) No 1571/2004 for
calculating the financing costs of the abovementioned
intervention measures should be adjusted accordingly.

For expenditure incurred during the 2005 EAGGF Guarantee
Section accounting year:

1. the interest rate referred to in Article 3 of Regulation

(EEC) No 411/88 shall be 2,2 %;

2. the specific interest rate referred to in Article 4(1) of
Regulation (EEC) No 411/88 shall be 2,1 % for Austria,
France, Portugal and Sweden and 2 % for Ireland and
Finland.

3. the specific interest rate referred to in Article 4(3) of
Regulation (EEC) No 411/88 shall be 2,5 % for the
United Kingdom, 2,9 % for Latvia, 3,1 % for Slovakia
and Slovenia, 4 % for Cyprus, 4,1 % for Poland and
9,2 % for Hungary.’

Article 2

This Regulation shall enter into force on the day of its publi-
cation in the Official Journal of the European Union.

It shall apply from 1 October 2004.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 14 July 2005.

For the Commission

Mariann FISCHER BOEL
Member of the Commission

(1) OJ L 216, 5.8.1978, p. 1. Regulation as last amended by Regulation

(EC) No 695/2005 (OJ L 114, 4.5.2005, p. 1).

(2) OJ L 312, 9.10.2004, p. 9.
(3) OJ L 40, 13.2.1988, p. 25. Regulation as last amended by Regu-

lation (EC) No 956/2005 (OJ L 164, 24.6.2005, p. 8).