Article 1

Regulation (EEC) No 729/70 of the Council of 21 April 1970 on the financing of the common agricultural policy · European Union

1. The European Agricultural Guidance and Guarantee Fund (hereinafter called the "Fund") shall, form part of the budget of the Communities. It shall comprise two sections: - the Guarantee Section; the Guidance Section. 2. The Guarantee Section shall finance: (a) refunds on exports to third countries; intervention intended to stabilise the agricultural markets. 3. The Guidance Section shall finance common measures adopted in order to achieve the objectives set out in Article 39 (1) (a) of the Treaty, including structural adaptation necessary for the proper working of the common market. However, such measures shall not take the place of the activities of the European Investment Bank and the European Social Fund. 4. Expenditure relating to administrative costs and personnel borne by Member States and by recipients of aid from the Fund shall not be taken over by the Fund.

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Source: EUR-Lex (Cellar) · retrieved 2026-11-10 · Text as adopted (Official Journal); later amendments are not incorporated in this text.