Article 5

Within three working days of the entry into force of the decision referred to in Article 4 (2), import licences shall be issued for the quantities resulting from the application of that decision.

Where the quantity covered by the import licence issued is lower than that applied for, the security fixed in Article 3 (1) shall be reduced proportionately.

Notwithstanding Article 9 of Commission Regulation (EEC) No 3719/88^f1, rights accruing under import licences shall not be transferable.