Commission Regulation (EC) No 1586/98 of 22 July 1998 amending Regulation (EC) No 1007/98 fixing the compensatory aid for bananas produced and marketed in the Community in 1997, the deadline for payment of the balance of that aid and the unit amount of advances for 1998

COMMISSION REGULATION (EC) No 1586/98 of 22 July 1998 amending Regulation (EC) No 1007/98 fixing the compensatory aid for bananas produced and marketed in the Community in 1997, the deadline for payment of the balance of that aid and the unit amount of advances for 1998
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation (EEC) No 404/93 of 13 February 1993 on the common organisation of the market in bananas (1), as last amended by Regulation (EC) No 3290/94 (2), and in particular Articles 12(6) and 14 thereof,
Whereas Commission Regulation (EEC) No 1858/93 (3), as last amended by Regulation (EC) No 796/95 (4), lays down detailed rules for applying Regulation (EEC) No 404/93 as regards the aid scheme to compensate for loss of income from marketing in the banana sector;
Whereas, when the Council adopted decisions concerning various agricultural products for the 1998/99 marketing year, the Commission undertook to increase the unit value of advances on compensatory aid for 1998; whereas that amount should be fixed and the security to be lodged when submitting applications from the date of entry into force of this Regulation should be adjusted in consequence; whereas Commission Regulation (EC) No 1007/98 (5) should therefore be amended;
Whereas this Regulation should enter into force immediately, in view, in particular, of the timetable laid down for the submission and processing of applications for advances under these arrangements;
Whereas the measures provided for in this Regulation are in accordance with the opinion of the Management Committee for Bananas,