CELEX: 31971R0982
Language: en
Date: 1971-05-12 00:00:00
Title: Regulation (EEC) No 982/71 of the Commission of 12 May 1971 on the rate of exchange to be applied as regards the currencies of certain Member States for the determination of value for customs purposes

Official Journal of the European Communities                                   259
  13.5.71                          Official Journal of the European Communities                             No L 107/ 11
                                REGULATION (EEC) No 982/71 OF THE COMMISSION
                                                       of 12 May 1971
                 on the rate of exchange to be applied as regards the currencies of certain Member States
                                   for the determination of value for customs purposes
  THE     COMMISSION       OF   THE    EUROPEAN      COM­         HAS ADOPTED THIS REGULATION :
  MUNITIES,
                                                                                          Article 1
 Having regard to the Treaty establishing the
 European Economic Community;                                     Where factors used to determine the value for
                                                                  customs purposes of goods are expressed in the
 Having regard to Council Regulation (EEC) No                     currency of a Member State which allows the
 803 /68 1 of 27 June 1968 on the valuation of goods             variations in the value of its currency to exceed the
 for customs purposes, and in particular Article 12               limits fixed by the rules of the International
  (3 ) thereof;                                                  Monetary Fund, the rate of exchange to be applied
                                                                  shall be the latest selling rate recorded on the most
                                                                 representative exchange market or markets of the
 Whereas, following the Council Resolution of 9 May               Member State where the valuation is made.
 1971 ; certain Member States have taken measures
 allowing the variations in the value of their currency
 to exceed temporarily the limits fixed by the rules of                                   Article 2
 the International Monetary Fund;
                                                                 Where factors used , to determine the value for
                                                                 customs purposes of goods are expressed in a
 Whereas, consequently, the conditions for the
                                                                 currency other than that of a Member State which
 application of Article 12 (3 ) of the above-mentioned
                                                                 allows the variations in the value of its currency to
 Regulation exist as regards the currencies of those             exceed the limits fixed by the rules of the
 Member States;
                                                                 International Monetary Fund, the rate of exchange to
                                                                 be applied when valuation is made in such a
 Whereas the latest selling rate recorded for those              Member State is the latest selling rate recorded on the
 currencies on the most representative exchange                  most representative exchange market or markets of
 market or markets of the Member State where the                 that Member State, unless the currency is that of a
valuation takes place is the most suitable rate for              third country which uses special methods of
 determining       the value    of goods     for   customs       exchange such as fluctuating rates or multiple rates
purposes; whereas, as regards other currencies, when             of exchange.
valuation is made in a Member State which allows
the variations in the value of its currency to exceed                                     Article 3
 the above-mentioned limits, the latest selling rate
recorded       for   those   currencies   on    the   most
                                                                 This Regulation shall be applicable as long as it is
representative exchange market or markets of that
                                                                 possible for the variations in the value of the
Member State should likewise be applied;                         currencies in question to exceed the limits fixed by
                                                                 the rules of the International Monetary Fund.
Whereas the measures provided for in this Regulation
are in accordance with the Opinion of the Customs
                                                                                          Article 4
Valuation Committee;
                                                                 This Regulation shall enter into force on the day of
                                                                 its publication in the Official Journal of the
1 OJ No L 148, 28.6.1968, p. 6                                   European Communities.
 ---pagebreak--- 260                      Official Journal of the European Communities
    This Regulation shall be binding in its entirety and directly applicable in all Member
    States .
    Doné at Brussels, 12 May 1971 .
                                                                     For the Commission
                                                                         The President
                                                                    Franco M. MALFATTI