31971R0982

Official Journal of the European Communities 259

13.5.71 Official Journal of the European Communities No L 107/ 11

REGULATION (EEC) No 982/71 OF THE COMMISSION

of 12 May 1971

on the rate of exchange to be applied as regards the currencies of certain Member States for the determination of value for customs purposes

THE COMMISSION OF THE EUROPEAN COM­ HAS ADOPTED THIS REGULATION : MUNITIES, Article 1 Having regard to the Treaty establishing the European Economic Community ; Where factors used to determine the value for customs purposes of goods are expressed in the Having regard to Council Regulation (EEC) No currency of a Member State which allows the 803 /68 1 of 27 June 1968 on the valuation of goods variations in the value of its currency to exceed the for customs purposes, and in particular Article 12 limits fixed by the rules of the International (3 ) thereof; Monetary Fund, the rate of exchange to be applied shall be the latest selling rate recorded on the most representative exchange market or markets of the Whereas, following the Council Resolution of 9 May Member State where the valuation is made. 1971 ; certain Member States have taken measures allowing the variations in the value of their currency Article 2 to exceed temporarily the limits fixed by the rules of the International Monetary Fund; Where factors used , to determine the value for customs purposes of goods are expressed in a Whereas, consequently, the conditions for the currency other than that of a Member State which application of Article 12 (3 ) of the above-mentioned allows the variations in the value of its currency to Regulation exist as regards the currencies of those exceed the limits fixed by the rules of the Member States ; International Monetary Fund, the rate of exchange to be applied when valuation is made in such a Whereas the latest selling rate recorded for those Member State is the latest selling rate recorded on the currencies on the most representative exchange most representative exchange market or markets of market or markets of the Member State where the that Member State, unless the currency is that of a valuation takes place is the most suitable rate for third country which uses special methods of determining the value of goods for customs exchange such as fluctuating rates or multiple rates purposes; whereas, as regards other currencies, when of exchange. valuation is made in a Member State which allows the variations in the value of its currency to exceed Article 3 the above-mentioned limits, the latest selling rate recorded for those currencies on the most This Regulation shall be applicable as long as it is representative exchange market or markets of that possible for the variations in the value of the Member State should likewise be applied; currencies in question to exceed the limits fixed by the rules of the International Monetary Fund. Whereas the measures provided for in this Regulation are in accordance with the Opinion of the Customs Article 4 Valuation Committee;

This Regulation shall enter into force on the day of its publication in the Official Journal of the 1 OJ No L 148, 28.6.1968, p. 6 European Communities.

260 Official Journal of the European Communities

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

Doné at Brussels, 12 May 1971 .

For the Commission

The President

Franco M. MALFATTI