31972R1461

Official Journal of the European Communities 671

11.7.72 Official Journal of the European Communities No L 155/35

REGULATION (EEC) No 1461 /72 OF THE COMMISSION

of 10 July 1972

amending Regulation No 633 /67/EEC on the advance fixing of the export refund on cereals

THE COMMISSION OF THE EUROPEAN COM­ validity of the export licence extends well beyond MUNITIES, this period, account should be taken not only of the development of the world market but also of the Having regard to the Treaty establishing the possible development of the internal market so that European Economic Community ; exports can be better planned in the light of availabilities ; Having regard to Council Regulation No 120/67/EEC1 of 13 June 1967 on the common Whereas the measures provided fqr in this Regulation organization of the market in cereals , as last amended are in accordance with the Opinion of the by Regulation (EEC) No 796/72,2 and in particular Management Committee for Cereals ; Article 16 (6) thereof; Whereas Article 16 (4) of Regulation No HAS ADOPTED THIS REGULATION : 120/67/EEC provides that, where the export refund on cereals is fixed in advance, a corrective amount Article 1 should be applied; whereas to this end, in accordance The following shall be substituted for Article 2 of with Commission Regulation No 633/67/EEC3 of 27 Regulation No 633 /67/EEC : September 1967 on the advance fixing of the export refund on cereals, as last amended by Regulation 'Article 2 (EEC) No 2646/70,4 the refund valid on the day on which the export licence is applied for is increased or The corrective amount applicable to the amount reduced by a corrective amount, on the basis of any of the refund fixed in advance on exports to be difference in the world market price between the day effected after the third month following that on which the licence is applied for and the month of during which the licence was issued shall be fixed exportation, as illustrated by the c.i.f. forward on the basis of the forseeable developments on the market.' delivery price; Whereas the purpose of this corrective amount is to Article 2 take account of the special conditions of the futures market ; whereas reference has hitherto been made to This Regulation shall enter into force on the day the development of the world market on a following its publication in the Official Journal of the three-monthly basis ; whereas, since the period of European Communities.

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

Done at Brussels, 10 July 1972. For the Commission The President S. L. MANSHOLT

1 OJ No 117, 19.6.1967, p. 2269/67. 2 OJ No L 94, 21.4.1972, p . 7. 3 OJ No L 233, 28.9.1967, p . 9. 4 OJ No L 283 , 29.12.1970, p. 50 .