CELEX: 31970R1970
Language: en
Date: 1970-09-30 00:00:00
Title: Regulation (EEC) No 1970/70 of the Commission of 30 September 1970 on the Canadian dollar exchange rate to be applied in determining value for customs purposes

Official Journal of the European Communities                                  615
1.10.70                           Official Journal of the European Communities                          No L 216/47
                            REGULATION (EEC) No 1970/70 OF THE COMMISSION
                                               of 30 September 1970 .
                on the Canadian dollar exchange rate to be applied in determining value for customs
                                                      purposes
THE    COMMISSION       OF    THE  EUROPEAN      COM­        "Whereas the measures provided for in this Regulation
MUNITIES ,                                                    are in accordance with the Opinion of the Customs
                                                             Valuation Committee ;
Having regard to the Treaty establishing the
European Economic Community;                                  HAS ADOPTED THIS REGULATION :
Having regard to Council Regulation (EEC) No                                          Article 1
803/681 of 27 June 1968 on the valuation of goods
for customs purposes, and in particular Article 12 (3 )      Where the factors used in determining the value for
thereof;
                                                              customs purposes of any goods are expressed in
                                                              Canadian dollars, the rate of exchange to be applied
Whereas because of the monetary measures taken by             shall be the latest selling rate recorded on the most
the Government of Canada the variations in value of           representative exchange market or markets of the
the Canadian dollar exceed the limits' fixed by the           Member State in which the valuation is made .
rules of the International Monetary Fund ;
                                                                                      Article 2
Whereas, as a result, the conditions of application of
Article 12 (3 ) of that Regulation are satisfied as           This Regulation shall apply during such time as the
regards the Canadian dollar ;                                 variations in value of the Canadian dollar exceed the
                                                              limits fixed by the rules of the International
                                                              Monetary Fund.
Whereas the latest selling rate recorded for the
 Canadian dollar on the most representative exchange
market or markets of the Member States is the most                                    Article 3
 appropriate rate of exchange for determining the
value of goods for customs purposes, in whatever              This Regulation shall enter into force on 1 October
Member State the valuation is made ;                          1970 .
              This Regulation shall be binding in its entirety and directly applicable in all Member
              States .
              Done at Brussels, 20 September 1970.
                                                                                  For the Commission
                                                                                     The President
                                                                                 Franco M. MALFATTI
 1 OJ No L 148, 28.6.1968, p. 6.