31968R0427

70 Official Journal of the European Communities

No L 88/12 Official Journal of the European Communities' 9.4.68

REGULATION (EEC) No 427/68 OF THE COMMISSION

of 8 April 1968

amending Regulation No 633/67/EEC as regards the advance fixing of the export refund on common wheat

THE COMMISSION OF THE EUROPEAN COM­ probable actual prices after the entry into force of MUNITIES , those agreements ; whereas therefore provision should be made for the possibility of an additional refund reduction to take account of foreseeable market Having regard to the Treaty establishing the trends after the expected date of entry into force European Economic Community ; of the agreements ;

Having regard to Council Regulation No 120/67/ Whereas the measures provided for in this Regulation EEC1 of 13 June 1967 on the common organisation are in accordance with the Opinion of the Manage­ of the market, in cereals, and in particular Article 16 ment Committee for Cereals ; ( 6) thereof;

HAS ADOPTED THIS REGULATION : Whereas Article 16 (4) of that Regulation provides that, in the case of advance fixing of the export re­ Article 1 fund on cereals, a corrective amount shall apply to it; whereas to this end, for the reasons given in the The following new subparagraph shall be added to preamble to Commission Regulation No 633/67/ Article 1 of Regulation No 633 /67/EEC before the EEC 2 of 27 September 1967 on the advance fixing subparagraph starting with the words 'In the intervals of the export refund on cereals, the refund valid on between weekly fixings . . . ': the day on which application for the export licence is made must be increased or reduced by calculating 'However, as regards applications for advance a c.i.f. forward delivery price reflecting the price dif­ fixing lodged before 1 July 1968 in respect of ference on the world market between the day that exports of common wheat to be effected as from application was made and the month of export; that date, the refund resulting from the above calculation may be reduced by an additional amount taking account of foreseeable market Whereas, however, under international agreements trends .' between countries exporting common wheat, those countries will generally adhere to certain 'minimum Article 2 prices' from 1 July 1968 ; whereas therefore the c.i.f. forward delivery price may not adequately reflect the This Regulation shall enter into force on the day difference between world market price levels when following its publication in the Official Journal of the applications for a licence are actually made and the European Communities.

This Regulation shall be binding in its entirety and directly applicable in all Member States .

Done at Brussels, 8 April 1968 . For the Commission

The President

Jean REY

1 OJ No 117, 19.6.1967 , p. 2269/67. 2 OJ No 233 , 28.9.1967, p. 9 .