31973R0943

No L 91 14 Official Journal of the European Communities 7 . 4 . 73

REGULATION (EEC ) No 943/73 OF THE COMMISSION of 6 April 1973 on the method and the rate of interest to be used for calculating the costs of financing intervention measures on the internal market for unmanufactured tobacco

THE COMMISSION OF THE EUROPEAN of the prices of different varieties of leaf tobacco or COMMUNITIES , packaged tobacco and on the other hand remains easily applicable ; Having regard to the Treaty establishing the Euro­ pean Economic Community ; Whereas this Regulation is to apply from the intro­ Having regard to Council Regulation No duction of the common organization of the market in unmanufactured tobacco and in so far as 17/64/EEC ( 1 ) . of 5 February 1964 on conditions of measures taken in pursuance of Regulation No aid from the European Agricultural Guidance and 17/64/EEC remain in force ; Guarantee Fund, as last amended by the Act (2) annexed to the Treaty (3) concerning the Accession of new Member States to the European Economic Whereas the measures provided for in this Regula­ Community and the European Atomic Energy tion are in accordance with the Opinion of the Community, signed at Brussels on 22 January Committee of the Fund ; 1972 ;

Having regard to Council Regulation ( EEC ) No 729/ 70 (4) of 21 April 1970 on the financing of the Common Agricultural Policy, as amended by Regu­ HAS ADOPTED THIS REGULATION : lation (EEC ) No 2788 /72 (5) ;

Having regard to Council Regulation (EEC) No Article 1 1697/71 (6) of 26 July 1971 on the financing of inter­ vention measures for unmanufactured tobacco , and The rate of interest referred to in Article 4 ( 1 ) (h) of in particular Article 4 ( 1 ) (h) thereof ; Regulation (EEC) No 1697/71 is fixed at 6 °/o per annum . Whereas, pursuant to Article 3 ( 1 ) of Regulation (EEC) No 1697/71 an account is drawn up for each Member State and for each year showing the net Article 2 losses sustained by the intervention agencies con­ cerned : 1 . The amount referred to in Article 4 ( 1 ) ( h) of Regulation (EEC) No 1697/71 sha'll be calculated Whereas the factors making up these accounts for each variety of leaf tobacco and for each variety include financing costs which are to be calculated of packaged tobacco by applying the rate fixed in by a method and at a rate of interest adopted in Article 1 to the average value per kilogramme of the accordance with the procedure laid down in Article product and multiplying the yield thus obtained by 13 of Regulation (EEC) No 729/70 ; the average annual stock. Whereas the rate of interest to be fixed must be representative of the financing costs borne by the Member States as a result of interventions carried 2 . The average value per kilogramme of the out ; product shall be calculated by dividing the sum of the values of products in stock on the first day of the year and of products purchased in the course of Whereas financing costs should be calculated that year by the total number of kilogrammes of according to a method which on the one hand takes products in stock on the first day of the year and of account of the importance of storage contracts and kilogrammes of products purchased in the course of the vear .

(*) OJ No 34, 27. 2. 1964, p . 586/64 . (2) OJ No L 73, 27. 3 . 1972, p. 5 . {») OJ No L 73, 27. 3- 1972, p. 14 . 3 . The average stock for the year shall be calcu­ (*) OJ No L 94, 28 . 4. 1970, p. 13 . (5) OJ No L 295 , 30. 12 . 1972, p. 1 . lated by adding the total stocks at the beginning of («) OJ No L 175 , 4. 8 . 1971 , p. 8 . each month to the total stocks at the end of each

7 . 4 . 73 Official Journal of the European Communities No L 91 / 15

month and dividing the total thus obtained by a Article 3 figure equal to twice the number of months in the This Regulation shall enter into force on the third year. day following its publication in the Official Journal For the purpose of making this calculation, leaf of the European Communities■» tobacco processed in the course of the year shall be taken into account at its initial weight in leaves . It shall take effect on 29 April 1970.

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

Done at Brussels, 6 April 1973 .

For the Commission

The President

Francois-Xavier ORTOLI