31973R1948

20 . 7 . 73 Official Journal of the European Communities No L 200/ 13

REGULATION (EEC) No 1948/73 OF THE COMMISSION of 19 July 1973 fixing the corrective amount applicable to the refund on cereals

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

Whereas Regulation No 633/67/EEC (4), as last — in the case of currencies which are maintained in amended by Regulation (EEC) No 1461 /72 (5), lays relation to each other, at any given moment, down detailed rules for the advance fixing of the within a band of 2-25 % , a rate of exchange based export refund on cereals ; on their effective parity ;

— for other currencies an exchange rate based on the Whereas that Regulation provides that the refund applicable on the day on which application for an arithmetic mean of the spot market rates of each export licence is made must, when the refund is fixed of these currencies recorded for a given period, in in advance, be reduced by not more that the differ­ relation to the Community currencies referred to ence between the cif forward delivery price and the cif in the previous subparagraph ; price where the former exceeds the latter by more than one unit of account per metric ton ; whereas, on Whereas it follows from applying all these provisions the other hand, the refund must be increased by not that the corrective amount must be fixed as shown in more than the difference between the cif price and the Table annexed to this Regulation ; the cif forward delivery price where the former exceeds the latter by more than one unit of account per metric ton ; 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 . (<>) OJ No 125, 26. 6. 1967, p. 2456/67 . 5 OJ No L 155, 11 . 7 . 1972, p. 35 . (7) OJ No L 262, 3 . 12. 1970, p. 3 .

No L 200/ 14 Official Journal of the European Communities 20 . 7 . 73

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 20 July 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, 19 July 1973 .

For the Commission P. J. LARDINOIS Member of the Commission

ANNEX

to the Commission Regulation of 19 July 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 8 1 7 9 10 11 12

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