EUR-Lex - 31967R0767 - EN

Article 1

The following shall be substituted for Article 4 of Regulation No 142/67/EEC: "1. The amount of the refund applicable shall be that in force on the day of exportation.

1. However, on application by the party concerned, the refund applicable on the day on which the application is lodged, adjusted on the basis of the target price valid at the time of exportation, shall be applied to a transaction to be effected in the Member State in which the application was lodged within a period expiring at the end of the second month following the month in which the application was lodged.

Where terms of purchase in the country of destination make this necessary, this period may be extended in respect of the exports concerned until the end of the sixth month following the month in which the application was lodged.

1. In the cases referred to in paragraph 2, the application shall be accompanied by a deposit which, except in cases of force majeure, shall be forfeited in whole or in part if the transaction is not effected within the period specified above."

Article 2

This Regulation shall enter into force on the third day following its publication in the Official Journal of the European Communities.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Luxembourg, 26 October 1967.

For the Council

The President

H. HOECHERL (1) OJ No 172, 30.9.1966, p. 3025/66. (2) OJ No 197, 29.10.1966, p. 3393/66. (3) OJ No 125, 26.6.1967, p. 2461/67.