CELEX: 51986PC0020(54)
Language: en
Date: 1986-02-11
Title: PROPOSAL FOR A COUNCIL REGULATION AMENDING REGULATION ( EEC ) NO 1883/78 LAYING DOWN GENERAL RULES FOR THE FINANCING OF INTERVENTION BY THE EUROPEAN AGRICULTURAL GUIDANCE AND GUARANTEE FUND, GUARANTEE SECTION

14. 4. 86                                  Official Journal of the European Communities                                 No C 85/93
              Proposal for a Council Regulation amending Regulation (EEC) No 1883/78 laying down general
               rules for the financing of intervention by the European Agricultural Guidance and Guarantee Fund,
                                                          Guarantee Section
                                                          COM(86) 20 final
                                (Submitted by the Commission to the Council on 14 February 1986)
                                                            (86/C 85/54)
THE COUNCIL OF THE EUROPEAN COMMUNITIES,                              HAS ADOPTED THIS REGULATION:
Having regard to the Treaty establishing the European                                              Article 1
Economic Community,
                                                                      The following paragraph is added to Article 5 of Regulation
Having regard to Council Regulation (EEC) No 729/70 of                (EEC) No 1883/78:
21 April 1970 on the financing of the common agricultural                  'By way of derogation from the procedure laid down in
policy (*), as last amended by Regulation (EEC) No                         the first paragraph, the Commission shall be authorized
3769/85 ( 2 ), and in particular Article 3 (2) thereof,                    to fix the uniform interest rate at a level below its
                                                                           representative level. In the case of Member States
Having regard to the proposal from the Commission,                         themselves paying an interest rate that is lower than the
                                                                           rate fixed, the Commission may fix the uniform interest
Having regard to the opinion of the European Parliament,                   rate at that lower level.'
Whereas Article 5 of Regulation (EEC) No 1883/78 ( 3 ), as
last amended by Regulation (EEC) No 1716/84 ( 4 ), provides                                        Article 2
that, in the case of funds originating in the Member States
used for intervention purchasing of products, the amount of           The following paragraph is added to Article 6 of Regulation
the interest charges to be financed by the EAGGF, Guarantee           (EEC) No 1883/78:
Section, are to be calculated on the basis of an interest rate
uniform throughout the Community; whereas the interest                     'By way of derogation from the procedure laid down in
rate must be representative of the interest rates actually paid            the first paragraph, the Commission shall be authorized,
by the Member States;                                                      for the 1986, 1987 and 1988 financial years, to fix the
                                                                            standard amounts at a level corresponding to three
Whereas Article 6 of the same Regulation provides that                      quarters of the standard amounts established on a normal
material operations arising from storage are to be financed by              basis.'
the EAGGF, Guarantee Section, by means of standard
amounts uniform throughout the Community; whereas such
standard amounts normally reflect the level of weighted costs                                      Article 3
in the Member States;
                                                                      The Commission shall be requested to examine the situation
                                                                      as regards the standard amounts at the end of 1987 with a
Whereas, in order to ensure that the Community budget
                                                                      view to determining whether Article 2 must continue to apply
continues to be implemented under appropriate conditions in
                                                                      after 1988.
 1986 and that the reference framework fixed by the Council
is complied with, the Commission should, under the present
circumstances, be authorized to derogate from the rules
laid down in Article 5 and 6 of Regulation (EEC)                                                   Article 4
No 1883/78, such authorization to remain in force until the
                                                                      This Regulation shall enter into force on the day following its
level of intervention stocks has decreased substantially;
                                                                      publication in the Official Journal of the European
whereas, in the light of current estimates, such authorization
                                                                       Communities.
will have to remain in force for the 1987 and 1988 financial
years,
                                                                       It shall apply with effect from 1 January 1986.
 (») OJ No L 94, 28. 4. 1970, p. 13.
 (2) OJ No L 362, 31. 12. 1985, p. 17.
 (3) OJ No L 216, 5. 8. 1978, p. 1.                                    This Regulation shall be binding in its entirety and directly
 (4) OJ No L 163, 21. 6. 1984, p. 1.                                   applicable in all Member States.