Document ID: 32009R0720

COMMISSION REGULATION (EC) No 720/2009
of 6 August 2009
amending Regulation (EC) No 884/2006 laying down detailed rules for the application of Council Regulation (EC) No 1290/2005 as regards reference prices, the calculation of financing costs and physical inspection of rice
THE COMMISSION OF THE EUROPEAN COMMUNITIES,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation (EC) No 1290/2005 of 21 June 2005 on the financing of the common agricultural policy (1), and in particular Article 42 thereof,
Whereas:
(1)
In accordance with Annex IV to Commission Regulation (EC) No 884/2006 of 21 June 2006 laying down detailed rules for the application of Council Regulation (EC) No 1290/2005 as regards the financing by the European Agricultural Guarantee Fund (EAGF) of intervention measures in the form of public storage operations and the accounting of public storage operations by the paying agencies of the Member States (2), the calculation method for financing the costs for funds mobilised by the Member States to buy in products requires the determination of the interest rates applicable for a given accounting year.
(2)
This determination is based on the average interest rate, actually born during a set reference period, which the Member States should notify to the Commission at its request by a certain deadline. For reasons of homogeneity, this notification should be made using the form made available to the Member States by the Commission.
(3)
Member States which do not reply to this request of the Commission by sending their notification in the due form and by the set deadline should be considered as bearing no interest costs during the reference period.
(4)
For the Member States which declare in their notification, that they did not bear any interest costs during the reference period because they did not have agricultural products in public storage during that period the interest rate to be used for financing the costs for funds to be mobilised by those Member States to buy in products should be clearly determined.
(5)
Council Regulation (EC) No 1234/2007 of 22 October 2007 establishing a common organisation of agricultural markets and on specific provisions for certain agricultural products (Single CMO Regulation) (3) has introduced a distinction between reference prices and intervention prices. It is, therefore, necessary to adjust certain provisions of Regulation (EC) No 884/2006.
(6)
Commission Regulation (EC) No 670/2009 of 24 July 2009 laying down detailed rules for the application of Council Regulation (EC) No 1234/2007 as regards public intervention by invitation to tender for the purchase of durum wheat or paddy rice, and amending Regulations (EC) No 428/2008 and (EC) No 687/2008 (4) has introduced new rules concerning the physical inspection for rice. It is, therefore, necessary to adjust certain provisions of Regulation (EC) No 884/2006.
(7)
Regulation (EC) No 884/2006 should therefore be amended accordingly.
(8)
For reason of sound management of intervention measures involving public storage, the amendments related to the distinction between reference price and intervention price should apply from 1 October 2009, the starting date of the new accounting year.
(9)
The measures provided for in this Regulation are in accordance with the opinion of the Committee on the Agricultural Funds,
HAS ADOPTED THIS REGULATION:
Article 1
Annexes I, IV, VI, VII, X and XII to Regulation (EC) No 884/2006 are amended in accordance with the Annex to this Regulation.
Article 2
This Regulation shall enter into force on the third day following its publication in the Official Journal of the European Union.
Points 3 to 6 of the Annex shall apply from 1 October 2009.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 6 August 2009.

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