In an attempt to regulate expenditure on export refunds for the final year of the GATT commitment, when a maximum of ?415 million of spending is allowed, the European Commission adopted an administrative regulation for the monitoring of export refund certificates. Regulation 1702/1999 of July last year deals with the detailed application of these licences. It came into force on 1 February 2000 and has applied since 1 March 2000. The legislation obliges exporters of processed products, commonly known as non Annex 1 products, to apply for a certificate if they want to claim export refunds when their total application for a year amounts to more than ?20,000.
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