CELEX: 31974R2440
Language: en
Date: 1974-09-27 00:00:00
Title: Regulation (EEC) No 2440/74 of the Commission of 26 September 1974 fixing the corrective amount applicable to the refund on cereals

27. 9. 74                                 Official Journal of the European Communities                            No L 261 /55
                                REGULATION (EEC) No 2440/74 OF THE COMMISSION
                                                       of 26 September 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 (') 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 1 996/74 (2), and in particular the                  above entails a change in that amount of more than
 third sentence of the second subparagraph of Article                 0-125 unit of account ;
 1 6 (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
 is made, adjusted for the threshold price in force                   abilities and foreseeable trends on the Community
                                                                      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
validity of the export licence ; whereas, in this case, a             ments have made it necessary to vary the refund ;
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 1461 /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 209, 31 .    7. 1974, p. 1 .
(3)  OJ No  233, 28 . 9 .  1967, p. 9 .                              (5 ) OJ No 125 , 26 . 6 . 1967, p . 2456/67 .
(4)  OJ No  L 1 55, 1 1 .  7. 1 972, p. 35 .                         (6) OJ No L 262, 3 . 12. 1970 , p . 3 .
 ---pagebreak--- No ,L 261 /56                           Official Journal of the European Communities                              27. 9 . 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 27
export refunds fixed in advance in respect of cereals is            September 1974.
             This Regulation shall be binding in its entirety and directly applicable in all Member
             States .
             Done at Brussels, 26 September 1974.
                                                                             For the Commission
                                                                                  P.J. LARDINOIS
                                                                           Member of the Commission
                                                              ANNEX
             to the Commission Regulation of 26 September 1974 fixing the corrective amount appli­
                                                  cable to the refund on cereals
                                                                                                                      (u.a./ton)
       CCT                                                            1st     2nd         3rd        4th    5th       6th
                                                          Current
     heading               Description of goods                     period   period      period     period period    period
        No                                                  9         10         11        12          1     2         3
 10.01 A         Common wheat, and mesiin                                      —          —
 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                              —        —         —          —                 —         —