CELEX: 31970Q0385
Language: en
Date: 1970-07-27 00:00:00
Title: 70/385/EEC: Financial Regulation of 27 July 1970 relating to the Fund for the implementation of special provisions applicable to oil products originating in the Associated African States and Madagascar or in the Overseas Countries and Territories

Official Journal of the European Communities                                           3
No L 173/30                              Official Journal of the European Communities                                     6.8.70
                                                  FINANCIAL REGULATION
                                                          of 27 July 1970
               relating to the Fund for the implementation of special provisions applicable to oil products
               originating in the Associated African States and Madagascar or in the Overseas Countries
                                                          and Territories
                                                          ( 70/385/EEC)
THE COUNCIL OF THE EUROPEAN COMMUNITIES,                             accordance with the provisions of the Decision and of
                                                                     this Regulation.
Having regard to the Treaty establishing the European
Economic Community, and in particular Article 209                                              Article 3
thereof;
                                                                     During the four months following the expiry of the pe­
Having regard to the Decision of 25 July 1967 1 of the               riods laid down in Article 2 ( 3) of the Decision, and on
Representatives of the Governments of the Member                     the basis of the communications provided for in Article
States of the European Economic Community, meeting                   2(4) of that Decision, the Commission shall establish
within the Council, laying down special provisions appli­            and communicate to the Member States the total pay­
cable to oil products originating in the Associated Afri­            ments to be made and give details of the method for cal­
can States and Madagascar or in the Overseas Countries               culating that total. It shall at the same time notify each
and Territories (hereinafter called the 'Decision'), and in          Member State of the amount of its contribution, calculat­
particular Articles 1 , 3 and 6 thereof;                             ed in accordance with the scale provided in Article 6(1 )
                                                                     of the Decision. Each Member State shall remit its con­
Having regard to the proposal from the Commission;                   tribution within 30 days of notification.
Whereas Article 6 of the Decision provides that the con­
tributions from the Member States shall be administered                                        Article 4
by the Commission in accordance with rules to be laid                The contributions of each Member State shall be deposit­
down by the Council in a Financial Regulation;                       ed in a special account called ' Commission of the Euro­
                                                                     pean Communities - Fund for the Support of Oil Prod­
Whereas, therefore, provision should be made for the                 ucts' with the Treasury of that Member State or with a
creation of a Fund and for the rules governing its opera­            body designated by it.
tion, which shall also contain the measures for imple­
menting the Decision,                                                The amounts deposited in such accounts shall retain the •
                                                                     value corresponding to the parity, at the date of deposit,
HAS ADOPTED THIS FINANCIAL REGULATION :
                                                                     in relation to the unit of account referred to in Article 5
                           Article 1                                 of the Decision.
The contributions placed at the disposal of the Commis­                                        Articles
sion by the Member States in accordance with Article 6
                                                                     The Commission shall maintain in each Member State
of the Decision shall be deposited in a 'Fund for the Im­
plementation of Special Provisions applicable to Oil                 with the issuing bank or financial institution designated
Products originating in the AASM or in the OCT                       by that Member State, accounts bearing the same desig­
(hereinafter called the 'Fund for the Support of Oil                 nation as those which have been opened in accordance
                                                                     with Article 4.
Products'); its revenue and expenditure shall be in bal­
ance .
                                                                                               Article 6
                           Articles                                  Where the Council decides to have recourse to Article 4
The Commission shall administer the Fund for the Sup­                of the Decision, it shall at the same time take any deci­
port of Oil Products under its own responsibility and in             sions which may be required regarding the crediting of
                                                                     the amounts in question to the Fund for the Support of
                                                                     Oil Products. The provisions of this Regulation shall
  OJ No 173,29.8.1967, p. 14.                                        apply to the administration of those amounts.
 ---pagebreak--- 4                                          Official Journal of the European Communities
                           Article 7                                    the Financial Regulations relating to the Commission's
On 31 December each year the Commission shall draw                      operating budget shall apply to expenditure from the
up an account of revenue and expenditure which it shall                 Fund for the Support of Oil Products.
submit to the Audit Board provided for in Article 206 of
the Treaty before 3 1 March of the following year.                                               Article 9
                                                                        This Financial Regulation shall enter into force on the
This revenue and expenditure account together with the
                                                                        twentieth day following its publication in the Official
report of the Audit Board on the operations of the Fund
shall be communicated to the Council and to the Euro­
                                                                        Journal ofthe European Communities.
pean Parliament. The Council shall give a discharge to
the Commission concerning the administration of the
Fund.                                                                   Done at Brussels, 27 July 1970.
                           Articles                                                                          For the Council
Subject to the special provisions provided for in the De­                                                      The President
cision and in this Regulation, the general provisions of                                                       W. ARENDT
                                                                ANNEX
                                                           DECLARATION
              by the Representatives of the Governments of the Member States of the European Economic Communi­
              ty, meeting within die Council, concerning the Financial Regulation of the Council relating to the Fund
              for the Implementation of Special Provisions applicable to 00 Products originating in the AASM or in
                                                               the OCT.
              The last notification within the meaning of Article 8 of the Decision of 25 July 1967 was made on 6
             July 1970 and the Representatives of the Governments of the Member States meeting within the Coun­
              cil, in view of the provisions which have to be implemented for the application of that Decision, have
             agreed upon the following time-limits to operate from the date of entry into force of the Financial Regu­
              lation relating to the Fund for the Implementation of the Special Provisions applicable to Oil Products
             originating in the AASM or in the OCT, which will take effect on the twentieth day following the publi­
              cation of that Regulation in the Official Journal ofthe European Communities:
             - 30 days for the communication by the Member States to the Commission of the information referred
                 to in Article 2 (4) of the Decision;
             - 90 days for the communications and notifications by the Commission under Article 3 of the Finan­
                 cial Regulation; in any case.a period of 21 days is provided for between the date of the last commu­
                 nication mentioned in the first indent and the communications and notifications mentioned in this
                  indent.
             The Member States shall remit their contributions within 30 days following the notification from the
             Commission.