Commission Regulation (EEC) No 1596/86 of 26 May 1986 fixing the prices to be used for calculating the value of agricultural products in intervention storage in Spain and Portugal at 1 March 1986 in the accounts referred to in Article 4 of Regulation (EEC) No 1883/78

COMMISSION  REGULATION (EEC) No 1596/86
of 26 May 1986
fixing the prices to be used for calculating the value of agricultural products in intervention storage in Spain and Portugal at 1 March 1986 in the accounts referred to in Article 4 of Regulation (EEC) No 1883/78
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community,
Having regard to the Act of Accession of Spain and Portugal,
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 9 thereof,
Whereas Council Regulation (EEC) No 3247/81 (3) provides that accounts are to be drawn up for each product for which an intervention price has been fixed and that the value of products bought in during the year corresponds to the intervention prices fixed in the various regulations on the common organization of the markets;
Whereas in the case of the expenditure to be recorded in Spain and Portugal, financing of expenditure commences on 1 March 1986 by virtue of Article 394 of the Act of Accession; whereas the value of the agricultural products in public intervention storage in Spain should be determined; whereas, in accordance with the principle laid down in Article 68 of the Act of Accession, the intervention prices applicable in that country on that date should be used for that purpose;
Whereas in the case of Portugal, in accordance with the system of transition by stages provided for in the Act of Accession, similar rules are required at present for olive oil only;
Whereas the measures provided for in this Regulation are in accordance with the opinion of the EAGGF Committee,