Commission Regulation (EEC) No 2859/91 of 27 September 1991 fixing depreciation percentages to be applied when agricultural products are bought in for the 1992 financial year

COMMISSION REGULATION (EEC) No 2859/91  of 27 September 1991  fixing depreciation percentages to be applied when agricultural products are bought in for the 1992 financial year
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community,
Having regard to the Council Regulation (EEC) No 1883/78 of 2 August 1978 laying down the 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 787/89 (2) and in particular Article 8 thereof,
Whereas, under Article 8 of Regulation (EEC) No 1883/78, systematic depreciation of public intervention agricultural products must take place when they are bought in, and whereas accordingly the Commission must determine the depreciation percentage  before the beginning of each year and whereas such percentage shall not exceed the difference between the buying-in price and the foreseeable disposal price for each product;
Whereas, under 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 %; whereas,  coefficients to be applied also for the 1992 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;
Whereas the measures provided for in this Regulation are in accordance with the opinion of the EAGGF Committee,