Commission Regulation (EEC) No 1372/81 of 19 May 1981 laying down detailed rules for the calculation of monetary compensatory amounts
Official Journal L 138 , 25/05/1981 P. 0014 - 0019
Spanish special edition: Chapter 03 Volume 22 P. 0003
Portuguese special edition Chapter 03 Volume 22 P. 0003
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COMMISSION REGULATION ( EEC ) NO 1372/81
OF 19 MAY 1981
LAYING DOWN DETAILED RULES FOR THE CALCULATION OF MONETARY COMPENSATORY AMOUNTS
THE COMMISSION OF THE EUROPEAN COMMUNITIES ,
HAVING REGARD TO THE TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY ,
HAVING REGARD TO COUNCIL REGULATION ( EEC ) NO 974/71 OF 12 MAY 1971 ON CERTAIN MEASURES OF CONJUNCTURAL POLICY TO BE TAKEN IN AGRICULTURE FOLLOWING THE TEMPORARY WIDENING OF THE MARGINS OF FLUCTUATION FOR THE CURRENCIES OF CERTAIN MEMBER STATES ( 1 ) , AS LAST AMENDED BY REGULATION ( EEC ) NO 876/81 ( 2 ) , AND IN PARTICULAR ARTICLE 6 THEREOF ,
WHEREAS THE PROVISIONS OF COMMISSION REGULATION ( EEC ) NO 1380/75 OF 29 MAY 1975 LAYING DOWN DETAILED RULES FOR THE APPLICATION OF MONETARY COMPENSATORY AMOUNTS ( 3 ) HAVE BEEN AMENDED A NUMBER OF TIMES AND ON THE LAST OCCASION BY REGULATION ( EEC ) NO 3476/80 ( 4 ) ; WHEREAS , BY REASON OF THEIR NUMBER AND THEIR DISPERSAL AMONG VARIOUS ISSUES OF THE OFFICIAL JOURNAL OF THE EUROPEAN COMMUNITIES , THESE TEXTS ARE DIFFICULT TO USE ; WHEREAS THEY SHOULD THEREFORE BE CONSOLIDATED IN A SINGLE TEXT ; WHEREAS SOME AMENDMENTS SHOULD BE MADE TO THEM IN THE PROCESS AND THE PROVISIONS RELATING TO THE CALCULATION OF MONETARY COMPENSATORY AMOUNTS SEPARATED FROM THE ADMINISTRATIVE PROVISIONS ;
WHEREAS ARTICLE 1 ( 1 ) OF REGULATION ( EEC ) NO 974/71 PROVIDES THAT IF , FOR THE PURPOSES OF COMMERCIAL TRANSACTIONS , A MEMBER STATE ALLOWS THE EXCHANGE RATE FOR ITS CURRENCY TO FLUCTUATE BY A WIDER MARGIN , UP OR DOWN , THAN THAT PERMITTED BY THE INTERNATIONAL RULES IN FORCE ON 12 MAY 1971 , THEN IN TRADE WITH OTHER MEMBER STATES AND WITH NON-MEMBER COUNTRIES :
( A ) THE MEMBER STATE WHOSE CURRENCY APPRECIATES ABOVE THE MARGIN OF FLUCTUATION IS TO CHARGE ON IMPORTS AND GRANT ON EXPORTS ,
( B ) THE MEMBER STATE WHOSE CURRENCY DEPRECIATES BELOW THE MARGIN OF FLUCTUATION IS TO CHARGE ON EXPORTS AND GRANT ON IMPORTS ,
MONETARY COMPENSATORY AMOUNTS FOR THE PRODUCTS SPECIFIED IN PARAGRAPH 2 OF THAT ARTICLE ;
WHEREAS , PURSUANT TO PARAGRAPH 1A OF THE SAID ARTICLE , WHERE A RATE OF EXCHANGE OTHER THAN THAT CORRESPONDING TO THE PARITY OF THE CURRENCY IN QUESTION IS USED FOR CONVERSIONS BETWEEN THE UNIT OF ACCOUNT AND THE CURRENCY OF A MEMBER STATE , PARAGRAPH 1 , AFORESAID , ALSO APPLIES WHEN THE MEAN OF THE SPOT MARKET RATES FOR THAT CURRENCY DURING A PERIOD TO BE DETERMINED VARIES BY AT LEAST 1 % FROM THE CONVERSION RATE USED FOR THE PURPOSES OF CALCULATION ;
WHEREAS , FOR THE PURPOSE OF