# Commission Regulation (EC) No 545/2007 of 16 May 2007 opening and providing for the administration of an import tariff quota for frozen beef intended for processing (1 July 2007 to 30 June 2008), Article 11

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

1. A security shall be lodged with the competent authority at the time of import ensuring that the processor having been allocated import rights processes the entire quantity of meat imported into the required finished products in his establishment specified in the licence application, within three months of the day of import.
The amounts of the security are fixed in Annex III.
2. The security referred to in paragraph 1 shall be released in proportion to the quantity for which, within seven months of the day of import, proof has been furnished to the satisfaction of the competent authority that all or part of the imported meat has been processed into the relevant products within three months following the day of import in the designated establishment.
However, if processing took place after the three-month time limit referred to in the first subparagraph, the security shall be released minus a 15 % reduction plus 2 % of the remaining amount for each day by which the time limit has been exceeded.
If proof of processing is established within the seven-month time limit referred to in the first subparagraph and produced within 18 months following those seven months, the amount forfeited, less 15 % of the security amount, shall be repaid.
3. The amount not released of the security referred to in paragraph 1 shall be forfeited.

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Source: https://www.legislation.gov.uk/eur/2007/545/article/11 (the official version)
Page: https://openlegislation.uk/eu-regulation-2007-545/article-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.