CELEX: 31974R1279
Language: en
Date: 1974-05-23
Title: Regulation (EEC) No 1279/74 of the Commission of 22 May 1974 fixing the corrective amount applicable to the refund on cereals

23 . 5 . 74                               Official Journal of the European Communities                           No L 140 /7
                              REGULATION (EEC) No 1279/74 OF THE COMMISSION
                                                          of 22 May 1974
                          fixing the corrective amount applicable to the refund on cereals
THE COMMISSION OF THE EUROPEAN                                       whereas the cif forward delivery price is that deter­
COMMUNITIES,                                                         mined in accordance with Article 3 (2) of Regulation
                                                                     No 140/67/EEC (5), as amended by Regulation (EEC)
                                                                     No 2435/70 (6), based, in respect of each month for
Having regard to the Treaty establishing the European                which the export licence is valid, on the cif price
Economic Community ;                                                 calculated on the basis of offers for shipment during
                                                                     the month of exportation ;
Having regard to Council Regulation No 120/
67/EEC ( l ) of 13 June 1967 on the common organiza­                 Whereas the corrective amount so fixed will be altered
tion of the market in cereals, as last amended by Regu­              if application of the calculation procedure described
lation (EEC) No 1 346/73 (2), and in particular the                  above entails a change in that amount of more than
third sentence of the first subparagraph of Article 16               0-125 unit of account :
(4) thereof ;
                                                                     Whereas, however, Article 2 of Regulation No 633/
Having regard to the Opinion of the Monetary                         67/EEC provides that the corrective amount appli­
Committee ;                                                          cable to the amount of the refund fixed in advance on
                                                                     exports to be effected after the third month following
Whereas Article 16 (4) of Regulation No 120/67/EEC                   that during which the licence was issued should be
                                                                     fixed on the basis of foreseeable market trends ;
provides that the export refund applicable to cereals                whereas to this end account should be taken of avail­
on the day on which application for an export licence
                                                                     abilities and foreseeable trends on the Community
is made, adjusted for the threshold price in force                   market and of forward trends on the world market, in
during the month of exportation, must be applied on
request to exports to be effected during the period of               particular on those markets whose specific require­
                                                                     ments have made it necessary to vary the refund ;
validity of the export licence ; whereas, in this case, a
corrective amount must be applied to the refund ;
                                                                     Whereas, if the refund system is to operate normally,
Whereas Regulation No 633/67/EEC (3), as last                        refunds should be calculated on the following basis :
amended by Regulation (EEC) No 1 46 1 /72 (4), lays
down detailed rules for the advance fixing of the
                                                                     — in the case of currencies which are maintained in
export refund on cereals ;
                                                                          relation to each other, at any given moment,
                                                                          within a band of 2-25 % , a rate of exchange based
Whereas that Regulation provides that the refund                          on their effective parity ;
 applicable on the day on which application for an
 export licence is made must, when the refund is fixed               — for other currencies an exchange rate based on the
 in advance, be reduced by not more that the differ­                      arithmetic mean of the spot market rates of each
 ence between the cif forward delivery price and the cif                  of these currencies recorded for a given period, in
 price where the former exceeds the latter by more                        relation to the Community currencies referred to
 than one unit of account per metric ton ; whereas, on                    in the previous subparagraph ;
 the other hand, the refund must be increased by not
 more than the difference between the cif price and
 the cif forward delivery price where the former                      Whereas it follows from applying all these provisions
 exceeds the latter by more than one unit of account                  that the corrective amount must be fixed as shown in
 per metric ton ;                                                     the Table annexed to this Regulation ;
 Whereas the cif price is that determined in accor­
 dance with Article 13 of Regulation No 120 /67/ EEC ;                Whereas the measures provided for in this Regulation
                                                                      are in accordance with the Opinion of the Manage­
                                                                      ment Committee for Cereals,
 (<) OJ  No  117, 19 . 6.  1967, p.  2269/67.
 (2) OJ  No  L 141 , 28 .  5. 1973 , p. 8 .
 (}) OJ  No 233, 28. 9.    1967, p.  9.                               (5) OJ No 125, 26. 6 . 1967, p. 2456/ 67 .
 (4) OJ  No  L 155 , 11 . 7 . 1972,  p. 35 .                          (6) OJ No L 262, 3 . 12 . 1970 , p. 3 .
 ---pagebreak--- No L 140/8                            Official Journal of the European Communities                              23 . 5 . 74
HAS ADOPTED THIS REGULATION :                                      hereby fixed as shown in the Table annexed to this
                                                                   Regulation .
                        Article 1
                                                                                             Article 2
The corrective amount referred to in Article 16 (4) of
Regulation No 120/67/EEC which is applicable to                    This Regulation shall enter into force on 23 May
export refunds fixed in advance in respect of cereals is            1974.
             This Regulation shall be binding in its entirety and directly applicable in all Member
             States.
             Done at Brussels, 22 May 1974.
                                                                            For the Commission
                                                                                P.J. LARDINOIS
                                                                         Member of the Commission
                                                            ANNEX
             to the Commission Regulation of 22 May 1974 fixing the corrective amount applicable to
                                                    the refund on cereals
                                                                                                                  (u.a . I ton)
                                                                1st        2nd         3rd         4th    5th         6th
      CCT                                                     period
                                                    Current               period      period      period period     period
    heading            Description of goods
      No                                              5          6          7           8           9      10         11
10.01 A          Common wheat, and mes­
                   lin
10.01 B          Durum wheat
10.02            Rye
10.03            Barley
10.04            Oats
10.05 B          Maize other than hybrid
                   maize for sowing
10.07 C          Grain sorghum