Subject matter
Article 1
1
A tendering procedure is hereby opened in order to determine the level of aid for private storage referred to in Article 31(1)(b) of Regulation (EC) No 1234/2007 for the categories of olive oil listed in the Annex to this Regulation and defined in point 1 of Annex XVI to Regulation (EC) No 1234/2007.
2
The global quantity up to which aid for private storage can be granted shall be 100 000 tonnes.

Applicable rules
Article 2
Regulation (EC) No 826/2008 shall apply save as otherwise provided for in this Regulation.

Submission of tenders
Article 3
1
The sub-period during which tenders may be submitted in response to the first partial invitation to tender shall begin on 31 May 2012 and shall end on 5 June 2012 at 11:00 Brussels time.
The sub-period during which tenders may be submitted in response to the second partial invitation to tender shall begin on the first working day following the end of the preceding sub-period and shall end on 19 June 2012 at 11:00 Brussels time.
2
Tenders shall relate to a storage period of 180 days.
3
Each tender shall cover a minimum quantity of at least 50 tonnes.
4
Where an operator takes part in a tendering procedure for more than one category of oil or for vats located at different addresses, it shall submit a separate tender in each case.
5
Tenders may be lodged only in Greece, Spain, France, Italy, Cyprus, Malta, Portugal and Slovenia.

Securities
Article 4
Tenderers shall establish a security of EUR 50 per tonne of olive oil covered by a tender.

Shortening the term of contracts
Article 5
The Commission may, on the basis of developments on the market in olive oil and the outlook for the future, decide, in accordance with the procedure referred to in Article 195(2) of Regulation (EC) No 1234/2007, to shorten the term of contracts which are being performed and adjust the amount of the aid accordingly. The contract with the successful tenderer shall include reference to this option.

Notification of the tenders to the Commission
Article 6
In accordance with Article 12 of Regulation (EC) No 826/2008 all valid tenders shall be notified separately by Member States to the Commission, within 24 hours from the end of each tendering sub-period as referred to in Article 3(1) of this Regulation.

Entry into force
Article 7
This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 22 May 2012.
For the Commission, On behalf of the President,
Michel Barnier
Member of the Commission