31974R0628

22 . 3 . 74 Official Journal of the European Communities No L 77/3

REGULATION (EEC) No 628/74 OF THE COMMISSION of 21 March 1974 fixing the corrective amount applicable to the refund on cereals

THE COMMISSION OF THE EUROPEAN whereas the cif forward delivery price is that deter­ COMMUNITIES, mined in accordance with Article 3 (2) of Regulation No 140/67/EEC (5), as amended by Regulation (EEC) No 2435/70 (6), based, in respect of each month for Having regard to the Treaty establishing the European which the export licence is valid, on the cif price Economic Community ; calculated on the basis of offers for shipment during the month of exportation ;

Having regard to Council Regulation No 120/ 67/EEC ( ] ) of 13 June 1967 on the common organiza­ Whereas the corrective amount so fixed will be altered tion of the market in cereals, as last amended by Regu­ if application of the calculation procedure described lation (EEC) No 1 346/73 (2), and in particular the above entails a change in that amount of more than third sentence of the first subparagraph of Article 16 0-125 unit of account ; (4) thereof ;

Whereas, however, Article 2 of Regulation No 633/ Having regard to the Opinion of the Monetary 67/EEC provides that the corrective amount appli­ Committee ; cable to the amount of the refund fixed in advance on exports to be effected after the third month following that during which the licence was issued should be Whereas Article 16 (4) of Regulation No 120/67/ EEC fixed on the basis of foreseeable market trends ; provides that the export refund applicable to cereals whereas to this end account should be taken of avail­ on the day on which application for an export licence abilities and foreseeable trends on the Community is made, adjusted for the threshold price in force market and of forward trends on the world market, in during the month of exportation , must be applied on particular on those markets whose specific require­ request to exports to be effected during the period of ments have made it necessary to vary the refund ; validity of the export licence ; whereas , in this case , a corrective amount must be applied to the refund ;

Whereas, if the refund system is to operate normally, Whereas Regulation No 633/67/EEC (3), as last refunds should be calculated on the following basis : amended by Regulation (EEC) No 1461 /72 (4), lays down detailed rules for the advance fixing of the — in the case of currencies which are maintained in export refund on cereals ; relation to each other, at any given moment, within a band of 2-25 % , a rate of exchange based Whereas that Regulation provides that the refund on their effective parity ; applicable on the day on which application for an export licence is made must, when the refund is fixed — for other currencies an exchange rate based on the in advance , be reduced by not more that the differ­ arithmetic mean of the spot market rates of each ence between the cif forward delivery price and the cif of these currencies recorded for a given period, in price where the former exceeds the latter by more relation to the Community currencies referred to than one unit of account per metric ton ; whereas, on in the previous subparagraph ; 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 it follows from applying all these provisions exceeds the latter by more than one unit of account that the corrective amount must be fixed as shown in per metric ton ; the Table annexed to this Regulation ;

Whereas the cif price is that determined in accor­ Whereas the measures provided for in this Regulation dance with Article 13 of Regulation No 120/ 67/ EEC ; are in accordance with the Opinion of the Manage­ ment Committee for Cereals, (>) OJ No 117, 19 . 6 . 1967, p . 2269/67 . (2) OJ No L 141 , 28 . 5 . 1973, p . 8 . (3 ) OJ No 233 , 28 . 9 . 1967, p . 9 . (5 ) OJ No 125, 26 . 6 . 1967, p. 2456/ 67 . (4) OJ No L 155, 11 . 7 . 1972, p . 35. (6) OJ No L 262, 3 . 12 . 1970 , p . 3 .

No L 77/4 Official Journal of the European Communities 22 . 3 . 74

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 22 March export refunds fixed in advance in respect of cereals is 1974 .

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

Done at Brussels, 21 March 1974.

For the Commission

P.J. LARDINOIS Member of the Commission

ANNEX

to the Commission Regulation of 21 March 1974 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 3 4 5 9

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