CELEX: 51988PC0138
Language: en
Date: 1988-03-16
Title: PROPOSAL FOR A COUNCIL REGULATION LAYING DOWN THE GENERAL RULES APPLICABLE TO THE GRANTING OF FINANCIAL COMPENSATION TO THE KINGDOM OF SPAIN AND THE PORTUGUESE REPUBLIC IN RESPECT OF THEIR CONTRIBUTION TO FINANCING THE DEPRECIATION OF CERTAIN STOCKS OF AGRICULTURAL PRODUCTS

28. 4. 88                             Official Journal of the European Communities                             No C 111/7
                                                             II
                                                     (Preparatory Acts)
                                                COMMISSION
             Proposal for a Council Regulation (EEC) laying down the general rules applicable to the
             granting of financial compensation to the Kingdom of Spain and the Portuguese Republic in
             respect of their contribution to financing the depreciation of certain stocks of agricultural
                                                          products
                                                    COM(88) 138 final
                             (Submitted by the Commission to the Council on 23 March 1988)
                                                       (88/C 111/11)
THE COUNCIL OF THE EUROPEAN COMMUNITIES,                         HAS ADOPTED THIS REGULATION:
Having regard to the Treaty establishing the European                                       Article 1
Economic Community, and in particular Article 43
                                                                 Financial compensation shall be paid to the Kingdom of
thereof,
                                                                 Spain and the Portuguese Republic in respect of their
                                                                 contribution to the financing of expenditure associated
Having regard to the proposal from the Commission,
                                                                 with the disposal of butter and the depreciation of
                                                                 existing surplus stocks of agricultural products, as
Having regard      to  the    opinion   of  the   European       indicated below:
Parliament,
                                                                 — 1988:                1 200 million ECU,
Whereas to restore balance between supply and demand             — 1989 to 1992:        1 400 million ECU per year (at 1988
of agricultural products, exceptional measures have been                               prices).
introduced to speed up the disposal of public inter-
vention stocks of butter; whereas stock depreciation                                        Article 2
measures are planned for other products;
                                                                 This competition shall be calculated by multiplying their
Whereas the third paragraph of Articles 187 and 374 of            contribution, by reference to the additional resource, to
the Act of Accession of the Kingdom of Spain and the              the financing of the expenditure referred to in Article 1
 Portuguese Republic to the European Communities                  by the difference between the 70 % rate of reimbur-
 provides for graduated refunds to these two Member               sement fixed for 1987 and the percentages for
 States during the transitional period;                           subsequent years laid down in the third paragraph of
                                                                  Article 187 and the third paragraph of Article 374 of the
                                                                  Act concerning the conditions of accession of the
 Whereas, in view of the level of surplus agricultural
                                                                  Kingdom of Spain and the Portuguese Republic and the
 stocks for depreciation, the Kingdom of Spain and the
                                                                  adjustments to the Treaties.
 Portuguese Republic should be treated as if such de-
 preciation had been fully financed by the Community in
 1987;                                                                                       Article 3
                                                                  The financial compensation shall be paid during the
 Whereas forseeable expenditure on the disposal or                month following that in which the Commission, pursuant
 depreciation of surplus stocks of agricultural products          to Article 5 (2) (a) of Council Regulation (EEC) No
 over the period 1988 to 1992 is put at 6 800 million             729/70, marks the 'advance payment against booking' to
 ECU; whereas this figure includes, from 1989 onwards,            cover the expenditure referred to in Article 1.
 refunds of 3 200 million ECU to the Member States in
 respect of the butter stock disposal programme carried           This Regulation shall be binding in its entirety and
 out in 1987 and 1988,                                             directly applicable in all Member States.