CELEX: 31973R2042
Language: en
Date: 1973-07-27 00:00:00
Title: Regulation (EEC) No 2042/73 of the Commission of 27 July 1973 making transitional provisions consequential upon the application on 4 June 1973 of the new system of monetary compensatory amounts

No L 207/ 34                             Official Journal of the European Communities                             28 . 7 . 73
                             REGULATION (EEC) No 2042/73 OF THE COMMISSION
                                                         of 27 July 1973
              making transitional provisions consequential upon the application on 4 June
                            1973 of the new system of monetary compensatory amounts
THE COMMISSION OF THE EUROPEAN                                      loss due to variations in the value of the dollar at the
COMMUNITIES,                                                        time of the transition from one system to the other ;
Having regard to the Treaty establishing the European               Whereas, in view of the entry into force of the new
Economic Community ;                                                system on 4 June 1973, it seems fair to provide that,
Having regard to Council Regulation (EEC) No                        for all imports or exports in respect of which advance
974/71 (') of 12 May 1971 on certain measures of                    fixing of the levy or refund had been requested before
conjunctural policy to be taken in agriculture                      that date, the compensatory amount should be that
following the temporary widening of the margins of                  applicable on 3 June 1973 ; whereas the award upon
fluctuation   for    the  currencies        of certain Member       tender of a contract for the export of sugar has also
States, as last amended by Regulation (EEC) No                      the effect of fixing the amount of refund ; whereas,
1225/73 (2), and in particular Article 6 thereof ;                  therefore, the same consideration should be given to
                                                                    the case of a refund fixed upon an award as to the
Whereas one of the consequences of the introduction                 other cases mentioned ; whereas, however, the benefit
of the new system of monetary compensatory                          of this provision should only apply on request ;
amounts on 4 June 1973 is that the monetary compen­
satory amount of a Member State no longer reflects                  Whereas the Management Committees for Cereals, for
the relationship between its currency and the US                    Poultrymeat and Eggs, for Sugar and for Milk and
dollar ; whereas the fluctuation of the dollar and other            Milk Products have not delivered Opinions within the
currencies in relation to the currencies of the Member              time limits set by their Chairmen ;
States taking part in the joint float is taken into consid­
eration in the calculation of levies and refunds ;
                                                                     HAS ADOPTED THIS REGULATION :
whereas, therefore, under the new system operators
have to cover themselves against the risk of exchange
fluctuations, while under the former system the risk of                                        Article 1
changes in the rate of exchange in relation to the
dollar was covered , by the monetary compensatory                   At the request of the party concerned the monetary
amount ;                                                             compensatory amount, including the coefficient by
                                                                     which the levy or refund is adjusted, applicable on 3
Whereas operators have been aware of the new rules                   June 1973 shall , in lieu of the amount applicable on
 to be applied to parities laid down by Council Regula­              the date of importation or exportation , apply to all
tion (EEC) No 1 1 12/73 (3) of 30 April 1973, amending               transactions carried out before 3 June 1973 in respect
 Regulation ( EEC) No 974/71 , on certain measures of                of which the levy or refund was fixed in advance
 conjunctural policy to be taken in agriculture                      before 4 June 1973 or, in the case of sugar, the refund
 following the temporary widening of the margins of                  was the subject of an award upon tender made before
 fluctuation for certain Member States ;                             4 June 1973 .
 Whereas, however, the date of application of the new
 system was fixed on 4 June 1973 by Commission                                                 Article 2
 Regulation (EEC) No 1463/73 (4) of 30 May 1973
 laying down detailed rules for the application of mone­              1 . This Regulation shall enter into force on the day
 tary compensatory amounts ;                                         of its publication in the Official Journal of the Euro­
                                                                     pean Communities.
 Whereas if an importer or exporter had fixed a levy or
 refund in advance before that date, he may sustain                  2.     It shall apply from 4 June 1973 .
               This Regulation shall be binding in its entirety and directly applicable in all Member
               States .
                Done at Brussels, 27 July 1973 .
                                                                                For the Commission
                                                                                    The President
                                                                               François-Xavier ORTOLI
  (') OJ No L 106, 12 . 5 . 1971 , p . 1 .
  (2 ) OJ No L 1 25 , 11.5.1 973 , p . 49.
  (3 ) OJ No L 114, 30 . 4 . 1973 , p . 4 .
  h) OJ No L 146, 4. 6. 1973, p. 1 .