Regulation 1970/729 - Financing of the common agricultural policy - Main contents

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Regulation (EEC) No 729/70 of the Council of 21 April 1970 on the financing of the common agricultural policy

Official Journal L 094 , 28/04/1970 P. 0013 - 0018

Danish special edition: Series I Chapter 1970(I) P. 0196

English special edition: Series I Chapter 1970(I) P. 0218

Greek special edition: Chapter 03 Volume 5 P. 0093

Spanish special edition: Chapter 03 Volume 3 P. 0220

Portuguese special edition Chapter 03 Volume 3 P. 0220

Finnish special edition: Chapter 3 Volume 3 P. 0023

Swedish special edition: Chapter 3 Volume 3 P. 0023

REGULATION (EEC) No 729/70 OF THE COUNCIL of 21 April 1970 on the financing of the common agricultural policy

THE COUNCIL OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Economic Community, and in particular Articles 43 and 209 thereof;

Having regard to the proposal from the Commission;

Having regard to the Opinion of the European Parliament (1);

Having regard to the Opinion of the Economic and Social Committee;

Whereas by means of Regulation No 25 (2) on the financing of the common agricultural policy the Council established the European Agricultural Guidance and Guarantee Fund which forms part of the Communities' Budget ; whereas that Regulation laid down under Title I the principles which should apply after the transitional period;

Whereas at the single market stage, in view of the fact that price systems are standardised and the agricultural policy is a Community policy, the financial consequences devolve upon the Community ; whereas, in accordance with that principle, as laid down in Article 2 (2) of that Regulation, refunds on exports to third countries, intervention aimed at stabilising agricultural markets, and common measures adopted in order to achieve the objectives set out in Article 39 (1) (a) of the Treaty, including structural adaptation required for the proper working of the common market, are financed by the Fund;

Whereas, in particular, the principle should be maintained that the Fund should include a Guarantee Section for the expenditure of the common organisation of the agricultural markets and a Guidance Section for common expenditure relating to agricultural structure ; whereas the Commission is responsible for the administration of the Fund and whereas close co-operation between Member States and the Commission is provided for within a Committee for the European Agricultural Guidance and Guarantee Fund;

Whereas in accordance with Article 2 (2) of Regulation No 25, which substitutes the concept of financing by the Community for that of expenditure eligible for financing by the Fund, a new system should be established under which funds will no longer be advanced by the Member States but by the Community;

Whereas as regards the Guidance Section the Council must later decide, according to the procedure laid down in Article 43 of the Treaty, on the common measures to be taken and must determine their scope, financial incidence and other features;

Whereas under certain conditions it is necessary to keep in force those provisions of Council Regulation No 17/64/EEC (3) of 5 February 1964 on the conditions for granting aid from the European Agricultural Guidance and Guarantee Fund which make it possible to ensure the continuity of the Community financing of measures intended to improve agricultural structure;

Whereas measures must be taken to prevent and deal with any irregularities and to recover the amounts lost as a result of such irregularities or negligence ; whereas the financial responsibility for such irregularities or negligence must be determined;

Whereas Community expenditure must be made subject to close supervision ; whereas, in addition to supervision carried out by Member States on their own initiative, which remains essential, provision (1)OJ No C 2, 8.1.1970, p. 25. (2)OJ No 30, 24.4.1962, p. 992/62. (3)OJ No 34, 27.2.1964, p. 586/64.

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