Council of the European Union 28 December 1992, Council Regulation (EEC) No 3950/92, of 28 December 1992, establishing an additional levy in the milk and milk products sector

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Council Regulation (EEC) No 3950/92 establishes an additional levy scheme in the milk and milk products sector for seven consecutive twelve-month periods commencing 1 April 1993, set at 115% of the target price for milk, applicable to quantities delivered to a purchaser or sold directly for consumption in excess of individually allocated reference quantities. Key provisions govern the allocation and transfer of individual reference quantities tied to agricultural holdings, the liability of purchasers to collect and remit the levy, the maintenance of national reserves, and Member State discretion to implement restructuring programmes and temporary transfers of unused reference quantities. The levy revenue is designated as intervention to stabilize agricultural markets and must be used to finance expenditure in the milk sector, with Regulations (EEC) Nos 857/84 and 2074/92 repealed upon entry into force.AI