CELEX: 51988PC0138
Language: en
Date: 1988-03-16
Title: Proposal for a COUNCIL REGULATION laying down the general rules applicable to the granting of financial compensation to the Kingdom of Spain and the Portuguese Republic in respect of their contribution to financing the depreciation of certain stocks of agricultural products (submitted by the Commission)

ARCHIVES HISTORIQUES
DE LA COMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (88) 138
Vol. 1988/0041
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 ---pagebreak--- COMMISSION OF THE EUROPEAN COMMUNITIES
                                                 COM ( 88 ) 138 final
                                                 Brussels , 6 April 1988
                                 Proposai for a
                              COUNCIL REGULATION
           laying down the general rules applicable to the granting of
  financial compensation to the Kingdom of Spain and the Portuguese Republic
       in respect of their contribution to financing the depreciation
                of certain stocks of agricultural products
                      ( submitted by the Commission )
                                      iî (t           ; I
                               \\,-V *             Â7
 ---pagebreak---  Council Regulation ( EEC ) No         of                          Laying down
 the general rules applicable to the granting of financial compensation to the
 Kingdom of Spain and the Portuguese Republic in respect of their contribution
 to financing the depreciation of certain stocks of agricultural products .
 The Council of the European Communities ,
 Having regard to the Treaty establishing the European Economic Community , and
 in particular Article 43 thereof ,
Having regard to the proposal from the Commission ,
 Having regard to the opinion of the European Parliament ,
Whereas to restore balance between supply and demand of agricultural products ,
exceptional measures have oeen introduced to speed up the disposal of public
 intervention stocks of butter ; whereas stock depreciation measures are planned
for other products ;
Whereas the third paragraph of Articles 187 and 374 of the Act of Accession of
the Kingdom of Spain and the Portuguese Republic to the European Communities
provides for graduated refunds to these two Member States during the transitional
period ;
Whereas , in view of the level of surplus agricultural stocks for depreciation , the
Kingdom of Spain and the Portuguese Republic should be treated as if such depreciation
had been fully financed by the Community in 1987 ;
Whereas forseeable expenditure on the disposal or depreciation of surpLus stocks of
agricultural products over the period 1988 to 1992 is put at 6 800 million ECU ;
whereas this figure includes from 1989 onwards , refunds of 3 200 million ECU to the
Member States in respect of the butter stock disposal programme carried out in
1987 and 1988,
HAS ADOPTED THE FOLLOWING REGULATION :
                                      Article 1
Financial compensation shall be paid to the Kingdom of Spain and the Portuguese
Republic in respect of their contribution to the financing of expenditure associated
with the disposal of butter and the depreciation of existing surplus stocks of
agricultural products , as indicated below :
                  1988 :             1 200 million ECU
                  1989-1992 :        1 400 million ECU per year ( at 1988 c-ices )
                                                                                     2
 ---pagebreak---                                      Article 2
This compensation shall be calculated by multiplying their contribution ,
by reference to the additional resource , to the financing of the
expenditure referred to in Article 1 by the difference between the 70%
rate of reimbursement fixed for 1987 and the percentages for subsequent
years laid down -in the third paragraph of Article 187 and the third
paragraph of Article 374 of the Act concerning the conditions of
accession of the Kingdom of Spain and the Portuguese Republic and the
adjustments to the Treaties .
                                     Article 3
The financial compensation shall be paid during the month following that
in which the Commission , in line with Article 5(2 ) ( a ) of Council
Regulation ( EEC ) No 729 / 70 , makes the " advance payment against booking "
to cover the expenditure referred to in Article 1 .
This Regulation shall be binding in its entirety and directly applicable
in all Member States .
                                              For the Counci l
                                              The President