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2. The interest rate applying for the calculation of any interest payable pursuant to article 11 of Commission Regulation (EEC) No. 3665/87 laying down common detailed rules for the application of the system of export refunds on agricultural products(1), as amended(2), (sanctions to be applied where an export refund in excess of that applicable has been requested or an export refund has been unduly paid) shall be one percentage point above the sterling three month London interbank offered rate.
OJ No. L 351, 14.12.87, p.1.
As regards the recovery of amounts unduly paid and sanctions, by Commission Regulation (EC) No 2945/94 (OJ No. 310, 3.12.94, p.57).
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