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COUNCIL REGULATION ( EEC ) NO 3139/76

OF 21 DECEMBER 1976

AMENDING REGULATION ( EEC ) NO 2306/70 ON THE FINANCING OF INTERVENTION EXPENDITURE IN RESPECT OF THE DOMESTIC MARKET IN MILK AND MILK PRODUCTS

THE COUNCIL OF THE EUROPEAN COMMUNITIES ,

HAVING REGARD TO THE TREATY ESTABLISHING THE EUROPEAN ECONOMIC COMMUNITY ,

HAVING REGARD TO COUNCIL REGULATION ( EEC ) NO 729/70 OF 21 APRIL 1970 ON THE FINANCING OF THE COMMON AGRICULTURAL POLICY ( 1 ) , AS LAST AMENDED BY REGULATION ( EEC ) NO 2788/72 ( 2 ) , AND IN PARTICULAR ARTICLE 3 ( 2 ) THEREOF ,

HAVING REGARD TO THE PROPOSAL FROM THE COMMISSION ,

WHEREAS COUNCIL REGULATION ( EEC ) NO 2306/70 OF 10 NOVEMBER 1970 ON THE FINANCING OF INTERVENTION EXPENDITURE IN RESPECT OF THE DOMESTIC MARKET IN MILK AND MILK PRODUCTS ( 3 ) , AS LAST AMENDED BY REGULATION ( EEC ) NO 1444/76 ( 4 ) , PROVIDES THAT THE INTERVENTION EXPENDITURE ARISING FROM THE BUYING-IN , STORING AND RESELLING OF THE PRODUCTS CONCERNED SHALL BE DETERMINED BY MEANS OF THE ANNUAL ACCOUNTS ; WHEREAS ONE OF THE FACTORS OF THESE ACCOUNTS IS THE INDICATION OF THE VALUE OF THE STOCKS TO BE CARRIED OVER TO THE FOLLOWING YEAR ;

WHEREAS THE SAID REGULATION LAYS DOWN THAT , FOR SKIMMED-MILK POWDER , THE AFOREMENTIONED VALUE SHOULD BE BASED ON THE INTERVENTION PRICE ; WHEREAS , IN VIEW OF THE PRESENT STOCK POSITION , SUCH VALUE MUST ALLOW FOR SOME DEPRECIATION IN THE VALUE OF POWDER IN STORAGE BEFORE 1 JANUARY 1976 ,

HAS ADOPTED THIS REGULATION :

ARTICLE 1

THE FOLLOWING SUBPARAGRAPH SHALL BE ADDED TO ARTICLE 5 ( 1 ) ( A ) AND 5 ( 2 ) ( B ) OF REGULATION ( EEC ) NO 2306/70 :

" HOWEVER , STARTING WITH THE ACCOUNTS TO BE DRAWN UP AT 31 DECEMBER 1976 , THE VALUE CALCULATED SHALL , IN RESPECT OF ANY QUANTITIES OF POWDER BOUGHT BEFORE 1 JANUARY 1976 , BE MULTIPLIED BY A COEFFICIENT OF 0,70 . "

ARTICLE 2

THIS REGULATION SHALL ENTER INTO FORCE ON THE THIRD DAY FOLLOWING ITS PUBLICATION IN THE OFFICIAL JOURNAL OF THE EUROPEAN COMMUNITIES .

THIS REGULATION SHALL BE BINDING IN ITS ENTIRETY AND DIRECTLY APPLICABLE IN ALL MEMBER STATES .

DONE AT BRUSSELS , 21 DECEMBER 1976 .

FOR THE COUNCIL

THE PRESIDENT

A . P . L . M . M . VAN DER STEE

( 1 ) 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 . 4 .

( 4 ) OJ NO L 204 , 30 . 7 . 1976 , P . 1 .