CELEX: 31971R1971
Language: en
Date: 1971-09-10 00:00:00
Title: Regulation (EEC) No 1971/71 of the Commission of 10 September 1971 on the rate of exchange for the currencies of certain third countries to be used to determine value for customs purposes

784                               Official Journal of the European Communities
No L 207/20                        Official Journal of the European Communities                               11.9.71
                           REGULATION (EEC) No 1971/71 OF THE COMMISSION
                                                of 10 September 1971
          «  on the rate of exchange for the currencies of certain third countries to be used to
                                       determine value for customs purposes
THE     COMMISSION      OF   THE   EUROPEAN       COM­        Member States which allow the variations in the
 MUNITIES,                                                    value of their currencies to exceed the limits fixed by
                                                              the rules of the International Monetary Fund;
Having regard to the Treaty establishing the
European Economic Community;                                  Whereas the measures provided for in this Regulation
                                                              are in accordance with the Opinion of the Customs
                                                              Valuation Committee;
Having regard to Council Regulation (EEC) No
803/681 of 27 June 1968 on the valuation of goods
for customs purposes, and in particular Article 12 (3 )
thereof;
                                                              HAS ADOPTED THIS REGULATION :
Whereas owing to the international monetary
situation the governments of certain third countries
allow the variations in the value of their currencies to
exceed the limits fixed by the rules of the                                           Article 1
International Monetary Fund;
Whereas as a result the conditions of application of          Where factors used to determine the value for
Article 12 (3 ) of that Regulation are satisfied as           customs purposes of goods are expressed in the
regards those currencies ;                                    currency of a third country which allows the
                                                              variations in the value of its currency to exceed the
Whereas the latest selling rate recorded for the              limits fixed by the rules of the International
currencies of such third countries on the most                Monetary Fund, the rate of exchange to be used shall
representative exchange market or markets of the              be the latest selling rate recorded on the most
Member State where the valuation is made is the               representative exchange market or markets of the
most appropriate rate of exchange for determining             Member State in which the valuation is made.
the value of goods for customs purposes ;
Whereas the monetary measures previously taken by                                     Article 2
the Government of Canada led to the adoption of
Commission Regulation (EEC) No 1970/702 of 30
September 1970 in respect of the Canadian dollar;             This Regulation shall apply as long as it is possible
whereas that Regulation may be repealed by the                for the variations in the value of those currencies to
provisions herein ;                                           exceed the limits fixed by the rules of the
                                                              International Monetary Fund.
Whereas, moreover, Commission Regulation (EEC)
No 982/713 of 12 May 1971 prescribed the measures
to be taken in respect of the currencies of the                                       Article 3
                                                              Commission Regulation (EEC) No 1970/70 of 30
1 OJ No L 148, 28.6.1968, p. 6.                               September 1970 on the Canadian dollar exchange
2 OJ No L 216, 1.10.1970, p. 47.                              rate to be applied in determining value , for customs
8 OJ No L 107, 13.5.1971, p. 11.                              purposes is hereby repealed.
 ---pagebreak---                                   Official Journal of the European Communities                              785
                        Article 4                            Done at Brussels, 10 September 1971 .
This Regulation shall enter into *force on the day
following its publication in the Official Journal of                                       For the Commission
the European Communities.
                                                                                              The President
This Regulation shall be binding in its entirety and
directly applicable in all Member States.                                                 Franco M. MALFATTI