Council Regulation (EEC) No 2027/83 of 18 July 1983 amending Regulation (EEC) No 1569/72 laying down special measures for colza, rape and sunflower seed

COUNCIL  REGULATION (EEC) No 2027/83
of 18 July 1983
amending Regulation (EEC) No 1569/72 laying down special measures for colza, rape and sunflower seed
THE COUNCIL OF THE EUROPEAN
COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community,
Having regard to Council Regulation No 136/66/EEC of 22 September 1966 on the establishment of a common organization of the market in oils and fats (1), as last amended by Regulation (EEC) No 1413/82 (2), and in particular Article 36 thereof,
Having regard to the proposal from the Commission,
Whereas Council Regulation (EEC) No 1594/83 of 14 June 1983 on the subsidy for oil seeds (3) extended the aid system to inter alia colza and rape seed incorporated into animal feedingstuffs; whereas it is therefore necessary to adapt the special measures provided by Regulation (EEC) No 1569/72 (4), as last amended by Regulation (EEC) No 1986/82 (5), to take this into account;
Whereas Regulation (EEC) No 1569/72 makes provision for a system of differential amounts which takes account of the differences recorded between, firstly, the representative rates for the currencies of the Member States and, secondly, depending on the circumstances, the central rates or the spot market rates for the same currencies; whereas this system does not take account of the forward exchange rates; whereas, where the aid or refund for oil seeds is fixed in advance, failure to take account of the forward exchange rates may, in certain circumstances, create serious distortions between undertakings situated in different Member States as regards the cost of obtaining supplies of oil seeds of Community origin;
Whereas these difficulties should be alleviated by providing for the fixing of forward differential amounts which take account of the forward exchange rates for the currencies; whereas, however, provision should be made for fixing forward differential amounts only in cases where problems may arise, that is to say, where the difference between the forward exchange rates and the spot market exchange rates exceeds a threshold to be determined;
Whereas it should be possible to suspend the pre-fixing of the differential amounts if an abnormal situation on the financial markets in the Community threatens to create disorder in the oil-seeds market;
Whereas, in order to be able to assess the effectiveness of the measures in question, the duration of their application should be limited to one year,