
Article 1 
This Regulation lays down the conditions and rules applicable to the financing by CMO support of expenditure on intervention measures related to public storage.
Article 2 
Intervention measures in the form of public storage may comprise buying-in, storage, transport and transfer of stocks, and the sale and disposal by other means of agricultural products under the terms laid down by the applicable sectoral agricultural legislation and by this Regulation.
Article 3 

1. In the context of the public storage operations referred to in Article 2, CMO support shall finance the following expenditure under the heading of intervention, provided that the corresponding expenditure has not otherwise been fixed under the applicable sectoral agricultural legislation:
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(e) depreciation of stored products, in accordance with the calculation methods set out in Annex V;
(f) the differences (gains and losses) between the accounting value and the price of disposal of the products, or differences resulting from other factors.
2. ...For the purposes of this Regulation, accounting year means the United Kingdom financial year.
Article 4 

1. The value of the quantities bought in and sold shall be equal to the sum of the payments or receipts made or to be made for physical operations, except in the case of the specific provisions referred to in this Article and subject to:
(a) Annex VI, for missing quantities;
(b) Annex VII, for deteriorated or destroyed products;
(c) Annex VIII, for products which have entered storage but the taking-over of which has been refused.
2. The value of the quantities bought in shall be determined for the quantities of products entering storage, on the basis of the public intervention price, taking account of increases, premiums, reductions, percentages and coefficients applicable to the public intervention price at the time of purchase in accordance with the criteria laid down in the sectoral agricultural legislation.However, in the cases and situations referred to in Annex VI and points 2(a) and (c) of Annex VII, increases, premiums, reductions, percentages and coefficients shall not be taken into consideration.The appropriate authority may make regulations setting the value of products which have deteriorated or been destroyed, either due to natural disasters or to too long a period of storage as referred to in point 2 of Annex VII to this Regulation.Regulations made by the Secretary of State or the Welsh Ministers under this paragraph are to be made by statutory instrument.For regulations made under this paragraph by the Scottish Ministers, see section 27 of the Interpretation and Legislative Reform (Scotland) Act 2010.Any power of the Department of Agriculture, Environment and Rural Affairs to make regulations under this paragraph is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979.A statutory instrument containing regulations made by the Secretary of State under this paragraph is subject to annulment in pursuance of a resolution of either House of Parliament.A statutory instrument containing regulations made by the Welsh Ministers under this paragraph is subject to annulment in pursuance of a resolution of the National Assembly for Wales.Regulations made by the Scottish Ministers under this paragraph are subject to the negative procedure (see section 28 of the Interpretation and Legislative Reform (Scotland) Act 2010).Regulations made by the Department of Agriculture, Environment and Rural Affairs under this paragraph are subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954  as if they were a statutory instrument within the meaning of that Act.Regulations under this paragraph may:
(a)) contain consequential, incidental, supplementary, transitional or saving provision (including provision amending, repealing or revoking enactments);
(b)) make different provision for different purposes.Before making any regulations under this Regulation, the appropriate authority must consult:
(a)) such bodies or persons as appear to the authority to be representative of the interests likely to be substantially affected by the regulations, and
(b)) such other bodies or persons as the authority may consider appropriate.
3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5. In the financial accounts referred to in point (a) of Article 3(3) of Delegated Regulation (EU) No 907/2014, quantities in storage at the end of the accounting year and to be carried forward to the next accounting year shall be valued at their average book value (carry-over value), as determined by the monthly account of the last month of the accounting year.
6. Quantities entering storage which are found not to meet the conditions for storage shall be entered in the accounts at the time of removal from storage as a sale at the price at which they were bought in....
7. Where an account shows a positive balance, this shall be deducted from the expenditure for the current accounting year.
8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Article 5 
This Regulation shall enter into force on the seventh day following that of its publication in the Official Journal of the European Union.
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ANNEX I
I.  1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 2. 
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 3. 
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II.  1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 2. 
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 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 5. 
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III.  1. 
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 2. 
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 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

ANNEX II I.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 II.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 III.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 I.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (d) 
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 II.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 III.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 I.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 II.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 III.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 IV. 
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 I.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 II.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 III.  (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 IV. 
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ANNEX III
I.  1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

II.  1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

ANNEX IV

For the purposes of Annex VI and points 2(a) and (c) of Annex VII, the basic price to be used for de-boned beef is the reference threshold, as referred to in Article 1a of Regulation (EU) No 1370/2013, multiplied by a coefficient of 1,47.

ANNEX V
1. If, for a given product, the estimated selling price in public intervention storage is lower than the buying in price, a depreciation percentage, called the ‘k coefficient’ shall be applied at the time of buying in. It shall be fixed for each product at the beginning of each accounting year in accordance with Article 20(4) of Regulation (EU) No 1306/2013.

2. The depreciation percentage shall not exceed the difference between the buying in price and the estimated disposal price for each product concerned.

3. 
In such cases, the relevant authority shall conduct a second depreciation at the end of each accounting year in accordance with the method set out in point 5.

4. 
To that end, the estimated selling price for products in storage shall be compared to the estimated carry-over value by product and by the relevant authority who owns the product. The overall depreciation amounts by product and by the relevant authority who owns the product concerned shall be obtained by multiplying the differences between the estimated carry-over values and the estimated selling prices by the estimated quantities in storage at the end of the accounting year.

5. 

— the quantities bought in during the period from 1 October of year n to 31 August of year n+1;
— the quantities in storage at 31 August of year n+1;
— the value in euro or sterling of the products in storage at 31 August of year n+1;
— the estimated quantities in storage at 30 September of year n+1;
— the estimated quantities bought in between 1 and 30 September of year n+1;
— the estimated value in euro or sterling of the quantities bought in between 1 and 30 September of year n+1.

6. The values in sterling notified by the relevant authority... with a view to calculating the depreciation at the end of an accounting year shall be converted into euro using the rates applicable at the time the overall depreciation amounts are calculated for the end of that accounting year.

7. ...

ANNEX VI

Subject to the specific rules laid down in Annex IV, the value of missing quantities shall be calculated as follows:

((a)) Where the tolerance limits, referred to in Article 4(2) of Delegated Regulation (EU) No 907/2014 for the storage or processing of products are exceeded, or where quantities are found to be missing due to theft or other identifiable causes, the value of missing quantities shall be calculated by multiplying these quantities by the reference threshold, as referred to in Article 7 of Regulation (EU) No 1308/2013, in force for the standard quality for each product on the first day of the accounting year in which the tolerance limits are exceeded or in which quantities are found to be missing, increased by 5 %.
((b)) If, on the day the quantities are found to be missing, the average market price for the standard quality in the United Kingdom is higher than 105 % of the basic reference threshold, as referred to in Article 1a of Regulation (EU) No 1370/2013, the contractors shall reimburse to the intervention agencies the market price recorded by the relevant authority who owns the product, increased by 5 %.
The average market price shall be determined by the relevant authority who owns the product.....
The differences between the amounts collected by applying the market price and the amounts booked to CMO support by applying the reference threshold, as referred to in Article 1a of Regulation (EU) No 1370/2013, shall be credited to CMO support at the end of the accounting year among the other elements of credit.
((c)) Where quantities are found to be missing after the products have been transferred or transported from an intervention storage place or a storage place designated by the paying agency to another place, and where no specific value is fixed under the relevant the law applying in the constituent nation, the value of those missing quantities shall be determined in accordance with point (a).

ANNEX VII
1. Unless specific sectoral agricultural legislation provides otherwise, a product shall be deemed to have deteriorated if it no longer meets the quality requirements applicable when it was bought in.

2. 

((a)) accidents, unless special provisions in Annex IV provide otherwise: the value of the products shall be calculated by multiplying the quantities affected by the basic reference threshold, as referred to in Article 1a of Regulation (EU) No 1370/2013, in force for the standard quality on the first day of the current accounting year, reduced by 5 %;
((b)) natural disasters: the value of the quantities affected shall be determined by an implementing act ... to be adopted pursuant to the third subparagraph of Article 4(2);
((c)) poor conservation conditions due in particular to unsuitable storage methods: the value of the product shall be accounted for in accordance with points (a) and (b) of Annex VI;
((d)) too long a period of storage: the book value of the product shall be determined on the basis of the selling price at the time of sale of the product by an implementing act ... to be adopted pursuant to the third subparagraph of Article 4(2).

The decision on the sale of the product shall be taken in accordance with the agricultural legislation applicable to the product in question. The receipts from sales shall be taken into account for the month during which removal occurred.

ANNEX VIII
1. 
2. ...
