Commission Regulation (EEC) No 3240/86 of 24 October 1986 fixing the amount of the securities applicable to certain olive oils released into free circulation in the Community

COMMISSION  REGULATION (EEC) No 3240/86
of 24 October 1986
fixing the amount of the securities applicable to certain olive oils released into free circulation in the Community
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community,
Having regard to Council Regulation (EEC) No 3089/78 of 19 December 1978 laying down general rules in respect of aid for the consumption of olive oil (1), as amended by Regulation (EEC) No 2762/80 (2), and in particular the last subparagraph of Article 9 (1) thereof,
Whereas, in the event of a substantial alteration in consumption aid, the last subparagraph of Article 9 (1) of Regulation (EEC) No 3089/78 authorizes the Commission, as soon as the alteration in such aid has been decided on, to adjust the amount of the security applicable to imported olive oils;
Whereas for the 1986/87 marketing year the amount of consumption aid has been increased substantially with effect from 1 November 1986; whereas, in order to avoid speculative transactions, it is appropriate to adjust the amount of the security to take account of that alteration,