Commission Regulation (EEC) No 2734/86 of 3 September 1986 amending Regulation (EEC) No 467/77 on the method and the rate of interest to be used for calculating the costs of financing intervention measures comprising buying-in, storage and disposal

COMMISSION  REGULATION (EEC) No 2734/86
of 3 September 1986
amending Regulation (EEC) No 467/77 on the method and the rate of interest to be used for calculating the costs of financing intervention measures comprising buying-in, storage and disposal
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic 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 (EEC) No 1334/86 (2), and in particular Article 5 thereof,
Whereas, on account of the exceptionally high levels of stocks of certain agricultural products in intervention storage, the Commission has, in certain instances, provided for a period in which payment may be made after the purchaser has removed the products from store;
Whereas the present system for calculating interest charges in respect of funds immobilized at national level is based on the average quantity of products in store per month;
Whereas it is appropriate, as an exceptional measure, to adjust the method of calculating interest charges for the sales concerned, in order to take account of such period for payment; whereas Commission Regulation (EEC) No 467/77 (3), as last amended by Regulation (EEC) No 1730/86 (4), was thus amended in the past at any new occasion in the context of a common organization of the market; whereas it is opportune to establish a permanent rule to avoid such frequent changes;
Whereas the measures provided for in this Regulation are in accordance with the opinion of the Fund Committee,