# Commission Regulation (EC) No 1689/2005 of 14 October 2005 fixing the depreciation coefficients to be applied when agricultural products are bought in, for the 2006 financial year, Introduction: Introductory text

Extent: E+W+S+N.I.

Commission Regulation (EC) No 1689/2005
of 14 October 2005
fixing the depreciation coefficients to be applied when agricultural products are bought in, for the 2006 financial year
THE COMMISSION OF THE EUROPEAN COMMUNITIES,
Having regard to the Treaty establishing the European Community,
Having regard to 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, and in particular the second sentence of Article 8(1)
Whereas:
(1)
Pursuant to Article 8 of Regulation (EEC) No 1883/78, depreciation of agricultural products in public intervention storage must take place when they are bought in. The depreciation percentage must not exceed the difference between the buying-in price and the foreseeable disposal price for each of these products.
(2)
In accordance with Article 8(3) of Regulation (EEC) No 1883/78, the Commission may restrict depreciation at the time of buying-in to a proportion of this depreciation percentage, but such proportion may not be less than 70 % of total depreciation.
(3)
Coefficients to be applied for the 2006 financial year by the intervention agencies to the monthly buying-in values of products should be fixed, to enable the agencies to establish the depreciation amounts.
(4)
The measures provided for in this Regulation are in accordance with the opinion of the EAGGF Committee,
HAS ADOPTED THIS REGULATION:

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Source: https://www.legislation.gov.uk/eur/2005/1689/introduction (the official version)
Page: https://openlegislation.uk/eu-regulation-2005-1689/introduction
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.