CELEX: 31974R3078
Language: en
Date: 1974-12-05
Title: Regulation (EEC) No 3078/74 of the Commission of 5 December 1974 on the rate of interest to be used for calculating finance costs in respect of intervention measures on the internal markets in beef and veal, milk and milk products and raw tobacco

No L 326/ 24                               Official Journal of the European Communities                            6 . 12. 74
                               REGULATION (EEC) No 3078/74 OF THE COMMISSION
                                                        of 5 December 1974
                on the rate of interest to be used for calculating finance costs in respect of inter­
                vention measures on the internal markets in beef and veal , milk and milk
                                                     products and raw tobacco
THE COMMISSION OF THE EUROPEAN                                        Whereas this rate of interest must be representative of
COMMUNITIES,                                                          the finance costs actually borne by Member States as a
                                                                      result of the intervention measures carried out by
Having regard to the Treaty establishing the European                 them ;
Economic Community ;
Having regard to Council Regulation (EEC) No                          Whereas the rates at present in force were fixed at
729/70 ( j ) of 21 April 1970 on the financing of the                 6 % by Commission Regulations (EEC) No 741 /72 (7)
common agricultural policy, as last amended by Regu­                  of 12 April 1972 and (EEC) No 943/73 (8) of 6 April
lation (EEC) No 2788 /72 (2) ;                                        1973 ; whereas, however, the rates actually obtaining
                                                                      as regards the financing interventions have, since last
Having regard to Council Regulation (EEC) No                          year, been much higher ; whereas an adjustment to
2305/70 (3) of 10 November 1970 on the financing of                   take account of this increase in rates is therefore
intervention expenditure in respect of the domestic                   required ;
market in beef and veal , as last amended by Regula­
tion (EEC) No 330/74 (4), and in particular Article 3                 Whereas the measures provided for in this Regulation
( 1 ) (g) thereof ;                                                   are in accordance with the Opinion of the Fund
                                                                      Committee,
Having regard to Council Regulation (EEC) No
2306/70 (5) of 10 November 1970 on the financing of
intervention expenditure in respect of the domestic
                                                                      HAS ADOPTED THIS REGULATION :
market in milk and milk products, as last amended by
Regulation . (EEC) No 330/74, and in particular Arti­
cles 4 ( l)(g), 5 ( l)(g) and 6 ( l)(g) thereof ;                                               Article 1
Having regard to Council Regulation (EEC) No                          In Article 1 of Regulations (EEC) No 741 /72 and
 1697/71 (6) of 26 July 1971 on the financing of inter­               (EEC) No 943/73, the expression '6 % ' is replaced by
vention expenditure in respect of raw tobacco, as last                '8 % '.
amended by Regulation (EEC) No 330/74, and in
particular Article 4 ( l)(h) thereof ;
                                                                                                Article 2
Whereas the abovementioned provisions of Regula­
tions (EEC) No 2305/70, (EEC) No 2306/70 and                          This Regulation shall enter into force on the third day
(EEC) No 1697/71 provide for a rate of interest to be                 following its publication in the Official Journal of
 fixed for the purpose of calculating expenditure                      the European Communities.
 resulting from intervention measures in the sectors
 concerned ;                                                           It shall apply with effect from 1 January 1974.
                This Regulation shall be binding in its entirety and directly applicable in all Member
                States .
                Done at Brussels , 5 December 1974 .
                                                                                 For the Commission
                                                                                     The President
                                                                                Francois-Xavier ORTOLI
 (!)  OJ  No  L 94, 28 . 4 . 1970 , p. 13 .
 (2)  OJ  No  L 295, 30 . 12 . 1972, p. 1 .
 (3)  OJ  No  L 249 , 17 . 11 . 1970, p. 1 .
 (<)  OJ  No  L 37, 9 . 2. 1974, p. 5 .
 (5)  OJ  No  L 249 , 17. 11 . 1970 , p. 4.                            (7) OJ No L 87, 13 . 4. 1972, p. 12 .
 (')  OJ  No  L 175, 4 . 8 . 1971 , p. 8 .                             (8) OJ No L 91 , 7 . 4. 1973 , p. 14 .