CELEX: 31973R3512
Language: en
Date: 1973-12-29 00:00:00
Title: Regulation (EEC) No 3512/73 of the Commission of 28 December 1973 fixing the corrective amount applicable to the refund on cereals

29 . 12. 73                                   Official Journal of the European Communities                             No L 360/5
                                 REGULATION ( EEC) No 3512/ 73 OF THE COMMISSION
                                                           of 28 December 1973
                             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 1 40 / 67/ EEC (5 ), as amended by Regulation ( EEC)
                                                                         No 2435/70 (b), 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 I 346/ 73 (-), and in particular the                    above entails a change in that amount of more than
third sentence of the first subparagraph of Article 16                   ()■ 1 2 5 unit of account ;
(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
                                                                         that during which the licence was issued should be
Whereas Article 16 (4) of Regulation No 120/ 67/ EEC                     fixed on the basis of foreseeable market trends ;
 provides that the export refund applicable lo 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 ('), as last                          refunds should be calculated on the following basis :
amended by Regulation ( EEC) No 1461 / 72 (4 ), lavs
down detailed rules for the advance fixing of the
export refund on cereals ;                                               — in the case of currencies which are maintained in
                                                                                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 dav 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 deliverv price where the former                          Whereas if 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 ,
(')  0| No  ll "7 , 14 . 6 . 1467 , p. 2264 / 6,7 .
(-)  OJ No  I. 141 , 2S . S.           p. s .
(;)  OJ No 2vi , 2N . 4 .           p. y .                              H Of No 125 , 26 . 6 . I96 7 , p. 2456 / 67 .
(4 ) OJ No I. I5 \ I I. ~ I4~2 . p. iv                                  (") ()j No I. 262,       12 . 1970, p. V
 ---pagebreak---  No L 360/ 6                           Official Journal of the European Communities                                      29 . 12 . 73
 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        29
 export refunds fixed in advance in respect of cereals is             December 1973 .
              This Regulation shall be binding in its entirety and directly applicable in all Member
              States .
              Done at Brussels , 28 December 1973 .
                                                                                For the Commission
                                                                                   P. J. LARDINOIS
                                                                           iMember of the Commission
                                                             ANNEX
              to the Commission Regulation of 28 December 1973 fixing the corrective amount appli­
                                                 cable to the refund on cereals
       CCT
                                                                  1st        2nd       |    3rd      |   4th      5th          6tli
     heading           Description of goods
                                                     Current    period      period    ;   period    J  period    period       period
       No                                              12          1          2       i      3      j     4        5             6
10.01 A         Common wheat , and mes­
                   lin
 0.01 B          Durum wheat
 0.02            Rye
 0.03            Barley
 0.04            Oats
 0.0.5 B        Maize other than hybrid
                   maize for sowing
10.07 C         Grain sorghum