COMMISSION REGULATION (EC) No 1196/95 of 24 May 1995 temporarily  suspending the advance fixing of export refunds on certain milk products and determining the  proportion of quantities requested for which export licences as provided for in Regulation (EC) No  974/95 on certain transitional measures required to implement the Uruguay Round Agricultural  Agreement may be granted for milk and milk products
THE COMMISSION OF THE EUROPEAN  COMMUNITIES
,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation (EEC) No 804/68 of 27 June 1968 on the common organization of  the market in milk and milk products  (1), as last amended by the Act of Accession of Austria,  Finland and Sweden and by Regulation (EC) No 3290/94  (2),
Having regard to Council Regulation (EEC) No 876/68 of 28 June 1968 laying down general rules for  granting export refunds on milk and milk products and criteria for fixing the amount of such  refunds  (3), as last amended by Regulation (EC) No 776/94  (4), and in particular the second  subparagraph of Article 5  (4) thereof,
Having regard to Commission Regulation (EEC) No 2729/81 of 14 September 1981 laying down special  rules implementing the system of import and export licences and the advance fixing of refunds in  respect of milk and milk products  (5), as last amended by Regulation (EC) No 1094/95  (6), and in  particular Article 10  a  (5) thereof,
Whereas uncertainty is a feature of the market in certain milk products; whereas the refunds  currently applicable to such products could result in the advance fixing of refunds for purposes of  speculation; whereas the issuing of licences for the quantities applied for is likely to result in  an overrun in the quantities of the products normally disposed of in accordance with the definition  laid down in Commission Regulation (EC) No 974/95  (7); whereas the advance fixing of refunds on  the products concerned should be suspended temporarily and the reduction coefficient applying to  the quantities requested should be fixed,
1.  The advance fixing of export refunds on milk products falling  within CN codes 0401, 0402, 0403  10  22, 0403  10  24, 0403  10  26, 0403  10  32, 0403  10  34,  0403  10  36, 0403  90, 0404  90 and 0406 shall be suspended for the period 25 to 29 May 1995 with  regard to licence applications as referred to in Article 1  (1) of Regulation (EC) No 974/95.
2.  No further action shall be taken in respect of applications pending for licences with advance  fixing of the refund as referred to in paragraph 1 which should have been issued from 25 May 1995,  with the exception of those referred to in paragraph 3, for which a reduction coefficient is hereby  fixed.
3.  The reduction coefficient referred to in Article 10  a  (5) of Regulation (EEC) No 2729/81 and  applicable to export licence applications submitted on 19 May 1995, with the exception of those  referred to in Article 44  (1) of Regulation (EEC) No 3719/88, for milk products covered by the CN  codes set out in column 1 of the Annex shall be as set out in column 2 thereof.
This Regulation shall enter into force on 25 May 1995.
This Regulation shall be binding in its entirety and directly applicable in all  Member States.