11985I290

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Article 290

1 . For olive oil , Articles 236 and 240 shall apply to the intervention price .

2 . During the transitional period of 10 years , the price thus fixed for Portugal shall be aligned on the level of the common price each year at the beginning of each marketing year in accordance with the following procedures :

- Until the entry into force of the adjustment of the " acquis communautaire " , the price in Portugal shall be aligned each year by one-twentieth of the original variation between this price and the common price .

- As from the entry into force of the adjustment of the " acquis communautaire " , the price in Portugal shall be corrected by the difference between the price in this Member State and the common price , as applicable before each move towards alignment , divided by the number of marketing years still to run until the end of the period of application of the transitional measures ; the price resulting from this calculation shall be adapted in proportion to any change in the common price for the marketing year to come .

3 . The Council , acting in accordance with the procedure provided for in Article 43 ( 2 ) of the Treaty establishing the European Economic Community , shall note that the condition required for the application of the second indent of paragraph 2 of this Article is fulfilled . The move towards alignment of the price shall be effected in accordance with the said provision , as from the beginning of the marketing year following this finding .

4 . The compensatory amount resulting from application of Article 240 shall be adapted , should the need arise , on the basis of the difference between Community aid for consumption applicable in the Community as at present constituted and in Portugal .