31974R3078

No L 326/ 24 Official Journal of the European Communities 6 . 12 . 74

REGULATION ( EEC) No 3078 /74 OF THE COMMISSION of 5 December 1974 on the rate of interest to be used for calculating finance costs in respect of inter­ vention measures on the internal markets in beef and veal , milk and milk products and raw tobacco

THE COMMISSION OF THE EUROPEAN Whereas this rate of interest must be representative of COMMUNITIES , the finance costs actually borne by Member States as a result of the intervention measures carried out by Having regard to the Treaty establishing the European them ; Economic Community ; Whereas the rates at present in force were fixed at Having regard to Council Regulation (EEC) No 729/70 ( j ) of 21 April 1970 on the financing of the 6 % by Commission Regulations (EEC) No 741 /72 (7) common agricultural policy, as last amended by Regu­ of 12 April 1972 and (EEC) No 943/73 (8) of 6 April lation (EEC) No 2788 /72 (2) ; 1973 ; whereas, however, the rates actually obtaining as regards the financing interventions have, since last Having regard to Council Regulation (EEC) No year, been much higher ; whereas an adjustment to 2305/70 (3) of 10 November 1970 on the financing of take account of this increase in rates is therefore intervention expenditure in respect of the domestic required ; market in beef and veal , as last amended by Regula­ tion (EEC) No 330/74 (4), and in particular Article 3 Whereas the measures provided for in this Regulation ( 1 ) (g) thereof ; are in accordance with the Opinion of the Fund Committee, Having regard to Council Regulation (EEC) No 2306/70 (5) of 10 November 1970 on the financing of intervention expenditure in respect of the domestic HAS ADOPTED THIS REGULATION : market in milk and milk products, as last amended by Regulation . (EEC) No 330/74, and in particular Arti­ cles 4 ( l)(g), 5 ( l)(g) and 6 ( l)(g) thereof ; Article 1 Having regard to Council Regulation (EEC) No In Article 1 of Regulations (EEC) No 741 /72 and 1697/71 (6) of 26 July 1971 on the financing of inter­ (EEC) No 943/73, the expression '6 % ' is replaced by vention expenditure in respect of raw tobacco, as last '8 % '. amended by Regulation (EEC) No 330 /74, and in particular Article 4 ( l)(h) thereof ; Article 2 Whereas the abovementioned provisions of Regula­ tions (EEC) No 2305/ 70 , (EEC) No 2306/70 and This Regulation shall enter into force on the third day (EEC) No 1697/71 provide for a rate of interest to be following its publication in the Official Journal of fixed for the purpose of calculating expenditure the European Communities. resulting from intervention measures in the sectors concerned ; It shall apply with effect from 1 January 1974.

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

Done at Brussels , 5 December 1974 . For the Commission The President Francois-Xavier ORTOLI

(!) OJ No L 94, 28 . 4 . 1970 , p. 13 . (2) OJ No L 295, 30 . 12 . 1972, p. 1 . (3) OJ No L 249 , 17 . 11 . 1970, p. 1 . (<) OJ No L 37, 9 . 2. 1974, p. 5 . (5) OJ No L 249 , 17. 11 . 1970 , p. 4. (7) OJ No L 87, 13 . 4. 1972, p. 12 . (') OJ No L 175, 4 . 8 . 1971 , p. 8 . (8) OJ No L 91 , 7 . 4. 1973 , p. 14 .