CELEX: 31973R0943
Language: en
Date: 1973-04-06 00:00:00
Title: Regulation (EEC) No 943/73 of the Commission of 6 April 1973 on the method and the rate of interest to be used for calculating the costs of financing intervention measures on the internal market for unmanufactured tobacco

No L 91 14                              Official Journal of the European Communities                               7. 4. 73
                                REGULATION (EEC) No 943/73 OF THE COMMISSION
                                                         of 6 April 1973
               on the method and the rate of interest to be used for calculating the costs of financing
                         intervention measures on the internal market for unmanufactured tobacco
 THE COMMISSION OF THE EUROPEAN                                      of the prices of different varieties of leaf tobacco or
 COMMUNITIES ,                                                       packaged tobacco and on the other hand remains
                                                                     easily applicable ;
 Having regard to the Treaty establishing the Euro­
 pean Economic Community ;
                                                                     Whereas this Regulation is to apply from the intro­
 Having regard to Council Regulation No                              duction of the common organization of the market
 17/64/EEC ( 1 ) . of 5 February 1964 on conditions of               in   unmanufactured    tobacco    and   in   so   far  as
 aid from the European Agricultural Guidance and                     measures taken in pursuance of Regulation No
 Guarantee Fund, as last amended by the Act (2)                      17/64/EEC remain in force ;
 annexed to the Treaty (3) concerning the Accession
 of new Member States to the European Economic
 Community and the European Atomic Energy                            Whereas the measures provided for in this Regula­
  Community, signed at Brussels on 22 January                        tion are in accordance with the Opinion of the
 1972 ;                                                              Committee of the Fund ;
 Having regard to Council Regulation ( EEC ) No 729/
 70 (4) of 21 April 1970 on the financing of the
 Common Agricultural Policy, as amended by Regu­                     HAS ADOPTED THIS REGULATION :
 lation (EEC ) No 2788 /72 (5) ;
Having regard to Council Regulation (EEC) No                                                Article 1
 1697/71 (6) of 26 July 1971 on the financing of inter­
 vention measures for unmanufactured tobacco, and
                                                                    The rate of interest referred to in Article 4 ( 1 ) (h) of
 in particular Article 4 ( 1 ) (h) thereof ;
                                                                    Regulation (EEC) No 1697/71 is fixed at 6 °/o per
                                                                     annum .
 Whereas, pursuant to Article 3 ( 1 ) of Regulation
 (EEC) No 1697/71 an account is drawn up for each
Member State and for each year showing the net
                                                                                            Article 2
losses sustained by the intervention agencies con­
 cerned :
                                                                    1.     The amount referred to in Article 4 ( 1 ) (h) of
Whereas the factors making up these accounts                        Regulation (EEC) No 1697/71 sha'll be calculated
include financing costs which are to be calculated                  for each variety of leaf tobacco and for each variety
by a method and at a rate of interest adopted in                     of packaged tobacco by applying the rate fixed in
accordance with the procedure laid down in Article                  Article 1 to the average value per kilogramme of the
 13 of Regulation (EEC) No 729/70 ;                                 product and multiplying the yield thus obtained by
                                                                    the average annual stock.
Whereas the rate of interest to be fixed must be
representative of the financing costs borne by the
Member States as a result of interventions carried                  2 . The average value per kilogramme of the
out ;                                                               product shall be calculated by dividing the sum of
                                                                    the values of products in stock on the first day of
Whereas financing costs should be calculated                        the year and of products purchased in the course of
according to a method which on the one hand takes                   that year by the total number of kilogrammes of
account of the importance of storage contracts and                  products in stock on the first day of the year and of
                                                                    kilogrammes of products purchased in the course of
                                                                    the vear .
(*)  OJ No  34, 27. 2. 1964, p . 586/64 .
(2)  OJ No  L 73, 27. 3 . 1972, p. 5 .
{»)  OJ No  L 73, 27. 3- 1972, p. 14 .                              3.     The average stock for the year shall be calcu­
(*)  OJ No  L 94, 28 . 4. 1970, p. 13 .
(5)  OJ No  L 295 , 30. 12 . 1972, p. 1 .                           lated by adding the total stocks at the beginning of
(«) OJ  No  L 175 , 4. 8 . 1971 , p. 8 .                            each month to the total stocks at the end of each
 ---pagebreak--- 7 . 4. 73                           Official Journal of the European Communities                        No L 91 / 15
month and dividing the total thus obtained by a                                         Article 3
figure equal to twice the number of months in the
year.
                                                               This Regulation shall enter into force on the third
                                                               day following its publication in the Official Journal
For the purpose of making this calculation, leaf               of the European Communities■»
tobacco processed in the course of the year shall be
taken into account at its initial weight in leaves .           It shall take effect on 29 April 1970.
             This Regulation shall be binding in its entirety and directly applicable in all Member
             States.
             Done at Brussels, 6 April 1973 .
                                                                         For the Commission
                                                                             The President
                                                                        Francois-Xavier ORTOLI