If, in respect of a specific product and where in particular the Agency takes the initiative, the Commission, having heard the Advisory Committee, finds that the situation on the market shows a clear surplus of supply over demand, it may, by means of an appropriate directive, call upon the Agency to apply the simplified procedure set out below:
On the basis of information acquired through the declarations made under Articles 1 and 2 of this Regulation, the Agency shall, after obtaining the Opinion of the Advisory Committee, lay down the general conditions to be fulfilled in supply contracts covering that product;
These general conditions shall be made known to the parties concerned, who shall then be empowered to negotiate directly and to sign contracts;
Contracts shall be communicated to the Agency and deemed to be concluded by it if no objection is notified by the Agency to the parties concerned within eight days from the time of receipt of the contracts.
The procedure set out in this Article shall not apply to supply contracts relating to special fissile materials.