31973R2042

No L 207 / 34 Official Journal of the European Communities 28 . 7 . 73

REGULATION ( EEC) No 2042/73 OF THE COMMISSION of 27 July 1973 making transitional provisions consequential upon the application on 4 June 1973 of the new system of monetary compensatory amounts

THE COMMISSION OF THE EUROPEAN loss due to variations in the value of the dollar at the COMMUNITIES, time of the transition from one system to the other ; Having regard to the Treaty establishing the European Whereas, in view of the entry into force of the new Economic Community ; system on 4 June 1973, it seems fair to provide that, Having regard to Council Regulation (EEC) No for all imports or exports in respect of which advance 974/71 (') of 12 May 1971 on certain measures of fixing of the levy or refund had been requested before conjunctural policy to be taken in agriculture that date , the compensatory amount should be that following the temporary widening of the margins of applicable on 3 June 1973 ; whereas the award upon fluctuation for the currencies of certain Member tender of a contract for the export of sugar has also States, as last amended by Regulation ( EEC) No the effect of fixing the amount of refund ; whereas, 1225/73 (2), and in particular Article 6 thereof ; therefore, the same consideration should be given to the case of a refund fixed upon an award as to the Whereas one of the consequences of the introduction other cases mentioned ; whereas, however, the benefit of the new system of monetary compensatory of this provision should only apply on request ; amounts on 4 June 1973 is that the monetary compen­ satory amount of a Member State no longer reflects Whereas the Management Committees for Cereals , for the relationship between its currency and the US Poultrymeat and Eggs, for Sugar and for Milk and dollar ; whereas the fluctuation of the dollar and other Milk Products have not delivered Opinions within the currencies in relation to the currencies of the Member time limits set by their Chairmen ; States taking part in the joint float is taken into consid­ eration in the calculation of levies and refunds ; HAS ADOPTED THIS REGULATION : whereas, therefore, under the new system operators have to cover themselves against the risk of exchange fluctuations, while under the former system the risk of Article 1 changes in the rate of exchange in relation to the At the request of the party concerned the monetary dollar was covered , by the monetary compensatory amount ; compensatory amount, including the coefficient by which the levy or refund is adjusted, applicable on 3 Whereas operators have been aware of the new rules June 1973 shall , in lieu of the amount applicable on to be applied to parities laid down by Council Regula­ the date of importation or exportation , apply to all tion (EEC) No 1 1 12/73 (3) of 30 April 1973, amending transactions carried out before 3 June 1973 in respect Regulation ( EEC) No 974/71 , on certain measures of of which the levy or refund was fixed in advance conjunctural policy to be taken in agriculture before 4 June 1973 or, in the case of sugar, the refund following the temporary widening of the margins of was the subject of an award upon tender made before fluctuation for certain Member States ; 4 June 1973 . Whereas, however, the date of application of the new system was fixed on 4 June 1973 by Commission Article 2 Regulation (EEC) No 1463/73 (4) of 30 May 1973 1 . This Regulation shall enter into force on the day laying down detailed rules for the application of mone­ of its publication in the Official Journal of the Euro­ tary compensatory amounts ; pean Communities. Whereas if an importer or exporter had fixed a levy or refund in advance before that date, he may sustain 2 . It shall apply from 4 June 1973 .

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

Done at Brussels , 27 July 1973 . For the Commission The President François-Xavier ORTOLI

(') OJ No L 106, 12 . 5 . 1971 , p . 1 . (2 ) OJ No L 1 25 , 11.5.1 973 , p . 49. (3 ) OJ No L 114, 30 . 4 . 1973 , p . 4 . h) OJ No L 146, 4. 6. 1973 , p . 1 .