# Commission Delegated Regulation (EU) No 906/2014 of 11 March 2014 supplementing Regulation (EU) No 1306/2013 of the European Parliament and of the Council with regard to public intervention expenditure, Article 4: Valuation of public storage operations

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

1. The value of the quantities bought in and sold shall be equal to the sum of the payments or receipts made or to be made for physical operations, except in the case of the specific provisions referred to in this Article and subject to:
(a) Annex VI, for missing quantities;
(b) Annex VII, for deteriorated or destroyed products;
(c) Annex VIII, for products which have entered storage but the taking-over of which has been refused.
2. The value of the quantities bought in shall be determined for the quantities of products entering storage, on the basis of the public intervention price, taking account of increases, premiums, reductions, percentages and coefficients applicable to the public intervention price at the time of purchase in accordance with the criteria laid down in the sectoral agricultural legislation.
However, in the cases and situations referred to in Annex VI and points 2(a) and (c) of Annex VII, increases, premiums, reductions, percentages and coefficients shall not be taken into consideration.
The appropriate authority may make regulations setting the value of products which have deteriorated or been destroyed, either due to natural disasters or to too long a period of storage as referred to in point 2 of Annex VII to this Regulation.
Regulations made by the Secretary of State or the Welsh Ministers under this paragraph are to be made by statutory instrument.
For regulations made under this paragraph by the Scottish Ministers, see section 27 of the Interpretation and Legislative Reform (Scotland) Act 2010.
Any power of the Department of Agriculture, Environment and Rural Affairs to make regulations under this paragraph is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979.
A statutory instrument containing regulations made by the Secretary of State under this paragraph is subject to annulment in pursuance of a resolution of either House of Parliament.
A statutory instrument containing regulations made by the Welsh Ministers under this paragraph is subject to annulment in pursuance of a resolution of the National Assembly for Wales.
Regulations made by the Scottish Ministers under this paragraph are subject to the negative procedure (see section 28 of the Interpretation and Legislative Reform (Scotland) Act 2010).
Regulations made by the Department of Agriculture, Environment and Rural Affairs under this paragraph are subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954 as if they were a statutory instrument within the meaning of that Act.
Regulations under this paragraph may:
(a)) contain consequential, incidental, supplementary, transitional or saving provision (including provision amending, repealing or revoking enactments);
(b)) make different provision for different purposes.
Before making any regulations under this Regulation, the appropriate authority must consult:
(a)) such bodies or persons as appear to the authority to be representative of the interests likely to be substantially affected by the regulations, and
(b)) such other bodies or persons as the authority may consider appropriate.
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5. In the financial accounts referred to in point (a) of Article 3(3) of Delegated Regulation (EU) No 907/2014, quantities in storage at the end of the accounting year and to be carried forward to the next accounting year shall be valued at their average book value (carry-over value), as determined by the monthly account of the last month of the accounting year.
6. Quantities entering storage which are found not to meet the conditions for storage shall be entered in the accounts at the time of removal from storage as a sale at the price at which they were bought in.
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7. Where an account shows a positive balance, this shall be deducted from the expenditure for the current accounting year.
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Source: https://www.legislation.gov.uk/eur/2014/906/article/4 (the official version)
Page: https://openlegislation.uk/eu-regulation-2014-906/article-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.