30. 6. 95 Official Journal of the European Communities No L 147/55 COMMISSION REGULATION (EC) No 1518/95 of 29 June 1995 laying down detailed rules for the application of Regulations (EEC) No 1418/76 and (EEC) No 1766/92 as regards the import and export system for products processed from cereals and rice and amending Regulation (EC) No 1162/95 laying down special detailed rules for the application of the system of import and export licences for cereals and rice THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to Council Regulation (EEC) No 1766/92 of 30 June 1992 on the common organization of the market in cereals ('), as last amended by the Act of Acces- sion of Austria, Finland and Sweden and by Regulation (EC) No 3290/94 (3, and in particular Articles 10 (4), 11 (4), 13 (11) and 16 (2) thereof, Having regard to Council Regulation (EEC) No 1418/76 of 21 June 1976 on the common organization of the market in rice (%), as last amended by the Act of Accession of Austria, Finland and Sweden and by Regulation (EC) No 3290/94, and in paricular Articles 12 (4), 13 (4), 14 (16) and 17 (11) thereof, Whereas implementation of the Agreement on Agricul- ture reached as part of the Uruguay Round involves major amendments to the import and export system and whereas, therefore, rules should be laid down for the application of the system of import duties and refunds applicable in trade with third countries in products processed from cereals and from rice, excluding compound feedingstuffs, for which special rules have been laid down ; Whereas the object of the refund should be to cover the difference between the prices for products within the Community and those charged on the world market; whereas, for that purpose, criteria should be established for determining the refund essentially by reference to prices of the basis products within and outside the Community, and to the outlets and conditions for the sale of processed products on the world market; Whereas Commission Regulation (EEC) No 1620/93 (%) is to be repealed on 1 July 1995 and whereas, as a result, this Regulation should incorporate its provisions, whilst adjusting them to present market conditions and to the implementation of the agreements concluded as part of the Uruguay Round of multilateral trade negotiations ; Whereas the measures provided for in this Regulaiton are in accordance with the opinion of the Management Committee for Cereals, () OJ No L 181, 1. 7. 1992, p. 21. () OJ No L 349, 31. 12. 1994, p. 10S. () O] No L 166, 25. 6. 1976, p. 1. () O] No L 155, 26. 6. 1993, p. 29. HAS ADOPTED THIS REGULATION : Article 1 1.  For the purposes of this Regulation ‘processed products’ means the products or groups of products listed : (a) in Annex A to Regulation (EEC) No 1766/92, except the products falling within CN code ex 2309; (b) in Article 1 (1) {c) of Regulation (EEC) No 1418/76. 2. For the purposes of this Regulation ‘basic products’ means the cereals listed in Article 1 (a) and (b) of Regula- tion (EEC) No 1766/92 and broken rice. TITLE 1 Refunds Article 2 1. The refund which may be granted on processed products shall be determined with particular reference to : (a) the movements of prices for the basic products within the Community, compared with world market prices ; (b) the quantities of basic products needed for the manu- facture of the product in question and, where appli- cable, their interchangeability ; (c) the possible cumulation of refunds applicable to various products obtained from one and the same process and one and the same basic product; (d) outlets and conditions of sale for processed products on the world market. 2. The refunds shall be fixed at least once a month. Article 3 1. The refund shall be adjusted in accordance with Article 12 of Commission Regulation (EC) No 1162/95 (°). The adjustment shall be made by increasing or decreasing the refund by the amount resulting from each of the () OJ No L 117, 24. 5. 1995, p. 2.