A — · 7/76 · GlobalLawDB

A —Regulation No 805/68 of the Council of 27 June 1968 (OJ, English Special Edition 1968, p. 187) established the common organization of the market in beef and veal.Regulation (EEC) No 974/71 of the Council of 12 May 1971 on certain measures of conjunctural policy to be taken in agriculture following the temporary widening of the margins of fluctuation for the currencies of certain Member States (OJ, English Special Edition 1971, p. 257) introduced a system of compensatory amounts in trade with Member States and third countries, applying to products covered by intervention arrangements as part of the common organization of agricultural markets. This regulation, as modified by Regulation No 509/73 of the Council of 22 February 1973 (OJ L 50 of 23. 2. 1973, p. 1), provides that a Member State of which the currency depreciates below the fluctuation limit shall charge on imports and grant on exports compensatory amounts in trade with Member States and third countries. (Article 1 (1)).Article 4 (a) of this regulation provides:1.In trade with third countries, compensatory amounts(a) granted on imports shall be deducted from the import charge,(b) charged on exports shall be deducted from the export refund.2. In trade between the Member States and third countries, the compensatory amounts applicable due to the decrease in value of the currency concerned may not be higher than the charge on products imported from third countries.However, the Council, acting on a proposal from the Commission and in accordance with the voting procedure provided for in Article 43 (2) of the Treaty, may decide, in certain exceptional cases, that the first subparagraph shall not be applicable.’Under Article 6 ‘detailed rules for the application of this regulation, which may include other derogations from the regulations on the common agricultural policy, shall be adopted in accordance with the procedure laid down in Article 26 of Council Regulation 120/67/EEC of 13 June 1967 on the common organization of the market in cereals (OJ, English Special Edition 1967, p. 33), as last amended by Regulation (EEC) No 2434/70 or, if appropriate, the corresponding article of the other regulations on the common organization of agricultural markets’.Article 6 of Regulation No 648/73 of the Commission of 1 March 1973 laying down detailed rules for the application of ‘monetary’ compensatory amounts (OJ L 64 of 9. 3. 1973, p. 1) provides:1. For the purposes of applying Article 4 (a) (2) of Regulation (EEC) No 974/71 the Commission shall fix the amounts by which the “monetary” compensatory amounts are to be “adjusted”.2. The amounts, fixed pursuant to paragraph (1) shall be altered at regular intervals if this is rendered necessary by changes in the charge on imports from third countries.’and Article 17 of that regulation provides:1. This regulation shall enter into force on the third day following its publication in the Official Journal of the European Communities.2. However, the amounts resulting from its application shall apply from 26 February 1973.By way of derogation from the preceding paragraph these amounts shall, at the request of the party concerned, apply from 13 February 1973 if application of this regulation leads to(a) the granting of:— compensatory amounts which are higher than those applicable until this regulation enters into force; or— newly introduced compensatory amounts;(b) the levying of import charges which are lower than the “monetary” compensatory amounts applicable until this regulation enters into force.’The compensatory amounts valid with effect from 26 February 1973 were fixed by Regulation (EEC) No 649/73 of the Commission of 1 March 1973 (OJ of 9. 3. 1973 L 64, p. 7).The Commission, in its Regulation (EEC) 905/73 of 23.3.1973 (OJ L 92 of 7. 4. 1973, p. 1) fixed the amounts by which the ‘monetary’ compensatory amounts are to be adjusted, in accordance with Article 6 of Regulation (EEC) No 648/73, the ‘monetary’ compensatory amounts appearing in Regulation (EEC) No 649/73. (Annex I: amounts valid with effect from 26. 2. 1973; Annex II: amounts valid with effect from 5. 3. 1973).