No L 252/12 Official Journal of the European Communities 4. 9. 86 COMMISSION REGULATION (EEC) No 2734/86 of 3 September 1986 amending Regulation (EEC) No 467/77 on the method and the rate of interest to be used for calculating the costs of financing intervention measures comprising - buying-in, storage and disposal THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, Having regard to Council Regulation (EEC) No 1883/78 ‘of 2 August 1978 laying down general rules for the finan- cing of interventions by the European Agricultural Guidance and Guarantee Fund, Guarantee Section (), as last amended by Regulation (EEC) No 1334/86 (%), and in particular Article S thereof, Vo Whereas, on _account of the exceptionally high levels of stocks of certain agricultural products in intervention storage, the Commission has, in certain instances, provided for a period in which payment may be made after the purchaser has removed the products from store ; Whereas the present system for calculating interest charges in respect of funds immobilized at national level is based on the average quantity of products in store per month ; Whereas it is appropriate, as an exceptional measure, to adjust the method of calculating interest charges for the sales concerned, in order to take account of such period for payment ; whereas Commission Regulation (EEC) No 467/77 (%), as last amended by Regulation (EEC) No 1730/86 (*), was thus amended in the past at any new occasion in the context of a common organization of the market ; whereas it is opportune to establish a permanent rule to avoid such frequent changes; Whereas the measures provided for in this Regulation are in accordance with the opinion of the Fund Committee, HAS ADOPTED THIS REGULATION: Article 1 Article 1 (6) of Regulation (EEC) No 467/77 is hereby replaced by the following : ‘6) In respect of sales of agricultural products by intervention agencies based on specific Community regulations, where the actual period for payment after removal of such products exceeds 30 days, the finan- cmg costs calculated pursuant to the provisions set out in the precedlng paragraphs shall be increased by the amount given by the following formula: MxDxi 365 Where M = amount to be paid by purchaser, D = number of days between removal of the product and receipt of payment, less 30, i = interest rate specified in Article 2. Article 2 This Regulation shall enter into force on the third day following its publication in the Offzczal Journal of the European Communities. : This Regulation is applicable from 1§ March 1986. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 3 September 1986. L 216, S. 8. 1978, p. 1. L 119, 8. 5. 1986, p. 18. L 62, 8. 3. 1977, p. 9. L 150, 4. 6. 1986, p. 14. ) For the Commission Frans ANDRIESSEN Vice-President