31973R1427

31 . 5. 73 Official Journal of the European Communities No L 144/5

REGULATION (EEC) No 1427/73 OF THE COMMISSION of 30 May 1973 fixing the corrective amount applicable to the refund on cereals

THE COMMISSION OF THE EUROPEAN exceeds the latter by more than one unit of account COMMUNITIES, per metric ton ;

Having regard to the Treaty establishing the European Whereas the cif price is that determined in accor­ Economic Community ; dance with Article 13 of Regulation No 120/67/EEC ; whereas the cif forward delivery price is that deter­ mined in accordance with Article 3 (2) of Regulation No 140/67/EEC (6), as amended by Regulation (EEC) Having regard to Council Regulation No 120/ No 2435/70 (7), based, in respect of each month for 67/EEC ( ! ) of 13 June 1967 on the common organiza­ which the export licence is valid, on the cif price tion of the market in cereals, as last amended by the calculated on the basis of offers for shipment during Act (2) annexed to the Treaty (3) on the Accession of the month of exportation ; new Member States to the European Economic Community and the European Atomic Energy Community, signed at Brussels on 22 January 1972, Whereas the corrective amount so fixed will be altered and in particular the third sentence of the first sub­ paragraph of Article 1 6 (4) thereof ; if application of the calculation procedure described above entails a change in that amount of more than 0-125 unit of account ; Having regard to the Opinion of the Monetary Committee : Whereas, however, Article 2 of Regulation No 633/ 67/EEC provides that the corrective amount appli­ cable to the amount of the refund fixed in advance on Whereas Article 16 (4) of Regulation No 120/67/ EEC exports to be effected after the third month following provides that the export refund applicable to cereals that during which the licence was issued should be on the day on which application for an export licence fixed on the basis of foreseeable market trends ; is made, adjusted for the threshold price in force whereas to this end account should be taken of avail­ during the month of exportation, must be applied on abilities and foreseeable trends on the Community request to exports to be effected during the period of market and of forward trends on the world market, in validity of the export licence ; whereas, in this case, a particular on those markets whose specific require­ corrective amount must be applied to the refund ; ments have made it necessary to vary the refund ;

Whereas Regulation No 633/67/ EEC (4), as last Whereas, if the refund system is to operate normally, amended by Regulation (EEC) No 1461 /72 (5), lays refunds should be calculated on the basis of an down detailed rules for the advance fixing of the exchange rate which is based, in the case of currencies export refund on cereals ; which are floating or whose central rate differs from the official parity, on the effective rate or the central rate of these currencies and, in the case of the US Whereas that Regulation provides that the refund dollar, on the change in parity announced on 13 applicable on the day on which application for an February 1973 ; export licence is made must, when the refund is fixed in advance, be reduced by not more that the differ­ ence between the cif forward delivery price and the cif Whereas it follows from applying all these provisions price where the former exceeds the latter by more that the corrective amount must be fixed as shown in than one unit of account per metric ton ; whereas, on the Table annexed to this Regulation ; the other hand, the refund must be increased by not more than the difference between the cif price and the cif forward delivery price where the former Whereas the measures provided for in this Regulation are in accordance with the Opinion of the Manage­ (!) OJ No 117, 19 . 6. 1967, p. 2269 / 67. ment Committee for Cereals ; (2 ) OJ No L 73 , 27. 3 . 1972, p. 14. (3 ) OJ No L 73, 27. 3 . 1972, p. 5 . (4) OJ No 233, 28 . 9 . 1967, p. 9 . (6) OJ No 125, 26 . 6. 1967, p. 2456/ 67 . (s ) OJ No L 155, 11 . 7. 1972, p. 35 . ( 7) OJ No L 262, 3 . 12. 1970 , p. 3 .

31 . 5 . 73 No L 144/ 6 Official Journal of the European Communities

HAS ADOPTED THIS REGULATION : hereby fixed as shown in the Table annexed to this Regulation . Article 1 Article 2 The corrective amount referred to in Article 16 (4) of Regulation No 120/67/EEC which is applicable to This Regulation shall enter into force on 31 May 1973 . export refunds fixed in advance in respect of cereals is

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

Done at Brussels, 30 May 1973 .

For the Commission

P. J. LARDINOIS Member of the Commission

ANNEX

to the Commission Regulation of 30 May 1973 fixing the corrective amount applicable to the refund on cereals (u.a. /ton)

1st 2nd 3rd 4th 5th 6th CCT Current period period period period period period heading Description of goods No 5 6 7 8 9 10 11

10.01 A Common wheat, and mes­ lin 10.01 B Durum wheat 10.02 Rye 10.03 Barley 10.04 Oats 10.05 B Maize other than hybrid maize for sowing 10.07 C Grain sorghum