1. 7. 77 Official Journal of the European Communities No L 163/1 (Acts whose publication is obligatory) COMMISSION REGULATION (EEC) No 1474/77 of 30 June 1977 altering the monetary compensatory amounts THE COMMISSION OF THE EUROPEAN COMMUNITIES, - Having regard to the Treaty establishing the European Economic Community, . Having regard to Council Regulation (EEC) No 974/71 of 12 May 1971 on certain measures of conjunctural policy to be taken in agriculture - following the temporary widening of the margins of fluctuation for the currencies of certain Member States (!), as last amended by Regulation (EEC) No 557/76 (%), and in particular Articles 3 and 6 thereof, Whereas the monetary compensatory amounts intro- duced by Regulation (EEC) No 974/71 were fixed by Commission Regulation (EEC) No 938/77 of 29 April 1977 (3), as last amended by Regulation (EEC) No 1429/77 (%) Whereas on 1 July 1977 the 1977/78 sugar year begins ; whereas the new prices of sugar have to be taken into account from that date for the calculation of the monetary compensatory amounts applicable to products in the sugar sector and to certain products and goods covered by Regulation (EEC) No 1059/69 (°) ; whereas account must also be taken of the fact that from 1 July 1977 the new representative rates fixed in Regultion (EEC) No 878/77 (¢) are appli- cable in the sugar sector; whereas this opportunity should be taken to clarify certain points; Whereas the Council, by Regulation (EEC) No 1111/77 of 17 May 1977 (7), laid down common provi- sions for isoglucose ; whereas isoglucose is a direct substitute for liquid sugar obtained by processing sugar beet or cane ; whereas it is in direct competition with liquid sugar, for which monetary compensatory amounts are fixed by Regulation-(EEC) No 938/77; Whereas, therefore, since monetary compensatory amounts exist for sugar, such amounts should also be (1) OJ No L 106, 12. 5. 1971, p..1. (2) O] No L 67, 15. 3. 1976, p. 1. () OJ No L 110, 30. 4. 1977, p. 6. (*) OJ No L 160, 30. 6. 1977, p. 44. (5) O] No L 141, 12. 6. 1969, p. 1. (¢) O] No L 106, 29. 4. 1977, p.-27. (") OJ No L 134, 28. 5. 1977, p. 4. fixed .for isoglucose ; whereas, if such amounts were not fixed, there could be disturbances in trade in the ~ product in question ; whereas Regulation (EEC) No 938/77 should therefore be supplemented ; Whereas Commission Regulation (EEC) No 800/77 of 20 April 1977 (8), as amended by Regulation (EEC) No 987/77 (°), introduced new monetary compensatory amounts for certain goods covered by Regulation (EEC) No 1059/69 ; whereas those amounts are due to take effect on 4 July 1977; Whereas the second subparagraph of Article 4 (1) of . Commission Regulation (EEC) No 1380/75 of 29 May 1975 laying down detailed rules for the application of monetary compensatory amounts (!°), as last amended by Regulation (EEC) No 1234/77 ('), lays down that the monetary compensatory amount must be calcu- lated on the basis of the common price ; whereas in the sugar sector amendments introduced with effect from 1 July 1977 make it necessary to take into consideration the intervention price plus the amount of the levy collected on sugar of Community origin under the arrangements for the reduction of storage costs ; ! Whereas, to make possible the application of the new monetary compensatory amounts introduced by Regu- lation (EEC) No 800/77, the said amounts should be fixed by reference to changes in the exchange rates referred to in Article 2 (1) of Regulation (EEC) No 974/71 and to the new representative rates fixed in Council Regulation (EEC) No 878/77 ; whereas, in the | interests of clarity, Part 8 of Annex I should be re- published ; ' Whereas the Management Committees for Sugar and for Isoglucose have not delivered an opinion within the time limit set by their chairmen; whereas the (®) OJ No L 97, 21. 4. 1977, p. 18. (%) O] No L 118, 11. 5. 1977, p. 12. (1) OJ No L 139, 30. 5. 1975, p. 37. (') O] No L 143, 10. 6. 1977, p. 9.