Commission Regulation (EC) No 1519/1999 of 12 July 1999 fixing depreciation percentages to be applied when agricultural products are bought in, for the 2000 financial year

COMMISSION REGULATION (EC) No 1519/1999
of 12 July 1999
fixing depreciation percentages to be applied when agricultural products are bought in, for the 2000 financial year
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation (EEC) No 1883/78 of 2 August 1978 laying down general rules for the financing of interventions by the European Agricultural Guidance and Guarantee Fund, Guarantee Section(1), as last amended by Regulation (EC) No 1259/96(2), and in particular Article 8 thereof,
(1) Whereas, pursuant to Article 8 of Regulation (EEC) No 1883/78, systematic depreciation of public intervention agricultural products must take place when they are bought in; whereas accordingly the Commission determines the depreciation percentage for each product concerned before the beginning of each year; whereas such percentage shall not exceed the difference between the buying-in price and the foreseeable disposal price for each of these products;
(2) Whereas, pursuant to Article 8(3) of Regulation (EEC) No 1883/78, the Commission may, at its discretion, restrict depreciation at the time of buying in to a proportion of this depreciation percentage, but such proportion may not be less than 70 %; whereas, coefficients to be applied also for the 2000 financial year by the intervention agencies to the monthly buying-in values of products should be fixed, to enable the agencies to establish the depreciation amounts;
(3) Whereas the measures provided for in this Regulation are in accordance with the opinion of the EAGGF Committee,