# Council Regulation (EC) No 734/2007 of 11 June 2007 amending Regulation (EEC) No 1883/78 laying down general rules for the financing of interventions by the European Agricultural Guidance and Guarantee Fund, Guarantee Section, Article 1

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

The third subparagraph of Article 5 of Regulation (EEC) No 1883/78 is replaced by the following:
‘By way of derogation from the first subparagraph, if the average interest rate borne by a Member State in the course of the third month following the reference period used for the establishment of the uniform interest rate by the Commission is more than twice the uniform interest rate, the Commission may, for the financial years 2007 and 2008, in financing the interest costs incurred by that Member State, cover the amount which corresponds to the interest rate borne by this Member State minus the uniform rate of interest.’

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Source: https://www.legislation.gov.uk/eur/2007/734/article/1 (the official version)
Page: https://openlegislation.uk/eu-regulation-2007-734/article-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.