Explanatory note

These Regulations require the Commissioners of Customs and Excise to pay to the Intervention Board for Agricultural Produce sums equivalent to the monetary compensatory amounts charged on imports into the United Kingdom from other member States of the European Economic Community.

The Community obligation to charge such monetary compensatory amounts and treat them as part of the agricultural intervention expenditure is contained in Article 1 of Council Regulation (EEC) No. 974/71 as amended by Council Regulation (EEC) No. 2746/78 (O.J. No. L291, 28.12.72, p.148). Article 7(2) of Commission Regulation (EEC) No. 380/78, concerning the operation of the system of advances in respect of expenditure financed by the Guarantee Section of the European Agricultural Guidance and Guarantee Fund (FEOGA), gives the United Kingdom the right either to pay such monetary compensatory amounts into the account opened pursuant to Article 1(1) of that Regulation or to pay those amounts into the account of the Intervention Board for Agricultural Produce. Section 6(5) of the European Communities Act 1972 charges the Commissioners with the collection of the relevant moneys; and under these regulations sums equivalent to the amounts collected pursuant to section 6(5) aforesaid will be paid to the account of the Intervention Board for Agricultural Produce.