31971R2722

1004 Official Journal of the European Communities

23.12.71 Official Journal of the European Communities No L 282/ 1

REGULATION (EEC) No 2722/71 OF THE COUNCIL of 20 December 1971 amending Council Regulation (EEC) No 816/70 as regards the conclusion of long-term storage contracts for table wines

THE COUNCIL OF THE EUROPEAN COMMUNITIES , of the risks inherent in such contracts when the amount of aid is being fixed; Having regard to the Treaty establishing the European Economic Community, and in particular HAS ADOPTED THIS REGULATION : Article 43 thereof; Having regard to the proposal from the Commission ; Article 1

Having regard to the Opinion of the European Article 5 of Regulation (EEC) No 816/70 shall be Parliament ; amended as follows : Whereas, despite the exceptional harvest in the In paragraph 1 , the words 'four months' shall be 1970/71 wine-growing year, the procedure . for substituted for the words ' five months '. long-term private storage contracts which are provided for within the framework of the' Article 2 intervention measures set out in Title I of Council Regulation (EEC) No 816/701 of 28 April 1970 laying­ The following sentence shall be added to Article down additional provisions for the common 6 (3 ) of Regulation (EEC ) No 816/70 : organisation of the market in wine, as last amended by Regulation (EEC) No 2504/71 ,2 has not been able . 'However, for long-term- storage contracts, the to operate because the information in the forward amount thus determined may be increased by not more than 20% to take account of the risks estimates did not show that the quantity of table inherent in such contracts .' wine available at the beginning of the wine-growing year would exceed total foreseeable requirements by more than five months' consumption ; whereas this Article 3 period should therefore be reduced to four months ; This Regulation shall enter into force on the day of Whereas, in order to promote the conclusion of its publication in the Official Journal of the long-term storage contracts, account should be taken European Communities .

This Regulation shall be - binding in its entirety and dire.ctly applicable , in all Member States .

Done at Brussels, 20 December 1971 . For the Council The President M. PEDINI

1 OJ No L 99 , 5.5.1970, p . 1 . 2 OJ No L 261 , 26.11.1971, p . 1 ,