Commission Regulation (EC) No 1846/2002 of 16 October 2002 fixing depreciation percentages to be applied when agricultural products are bought in, for the 2003 financial year

Commission Regulation (EC) No 1846/2002
of 16 October 2002
fixing depreciation percentages to be applied when agricultural products are bought in, for the 2003 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(1) thereof,
Whereas:
(1) 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; accordingly the Commission determines the depreciation percentage for each product concerned before the beginning of each year. Such percentage shall not exceed the difference between the buying-in price and the foreseeable disposal price for each of these products.
(2) 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 %. Coefficients to be applied also for the 2003 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) The measures provided for in this Regulation are in accordance with the opinion of the EAGGF Committee,