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Council Regulation (EEC) No 1883/78 (repealed)Show full title
Council Regulation (EEC) No 1883/78 of 2 August 1978 laying down general rules for the financing of interventions by the European Agricultural Guidance and Guarantee Fund, Guarantee Section (repealed)
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- Revised 03/02/20090.44 MB
- Revised 29/06/20070.07 MB
- Revised 04/05/20050.06 MB
- Revised 03/07/19960.06 MB
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[F1Article 8 U.K.
1. Where, for a given product, the estimated selling price for products in public intervention storage is lower than their buying-in price, a depreciation percentage shall be applied when the relevant product is bought in. Such percentage shall be fixed for each product in accordance with the procedure laid down in Article 13 of Regulation (EEC) No 729/70 before the beginning of each year.
2. The depreciation percentage shall not exceed the difference between the buying-in price and the foreseeable disposal price for the relevant product.
3. The Commission may restrict depreciation at the time of buying-in to a part of the percentage calculated in accordance with paragraph 2. This part cannot be less than 70 % of the depreciation fixed under the provisions of paragraph 1.
In such cases, the Commission shall effect a second depreciation at the end of the financial year, in accordance with the method indicated at paragraph 5.
4. From 1989 to 1992, extraordinary depreciations shall be effected at the beginning of each year on the basis of the appropriations entered in the respective Community budgets, so as to bring the storage situation back to normal by 1992.
5. For the depreciations referred to in the second subparagraph of paragraph 3 and in paragraph 4 the Commission shall determine, according to the procedure laid down in Article 13 of Regulation (EEC) No 729/70, the overall amounts of depreciation by product and by Member State.]
Textual Amendments
F1 Inserted by Council Regulation (EEC) No 2050/88 of 24 June 1988.
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