1.Reference prices valid for the Community may be fixed each year, by product category, for the products specified in Article 1, that are the subject of:
(a)tariff reduction or suspension arrangements, where the rules binding them in the WTO provide for compliance with a reference price,
(b)one of the measures referred to in Article 28(1),
or
(c)arrangements other than those referred to at (a) or (b), which provide for compliance with a reference price and which are in line with the Communitýs international undertakings.
2.If the declared customs value of a given product imported from a third country under one of the measures referred to in paragraph 1 is lower than the reference price, the quantities concerned shall not qualify for the tariff arrangements in question.
Member States shall inform the Commission immediately of cases where the measure provided for in this paragraph is applied.
3.Reference prices adopted:
(a)for the products listed in Annex I, Parts A and B, shall be equal to the withdrawal price fixed in accordance with Article 20(1);
(b)for the products specified in Annex I, Part C, shall be equal to the Community selling price fixed in accordance with Article 22;
(c)for the products specified in Annex II, shall be equal to the Community selling price fixed in accordance with Article 25(1);
(d)for other products, shall be fixed, in particular, on the basis of the weighted average of customs values recorded on the import markets or in the ports of import in the Member States during the three years immediately preceding the date on which the reference price is fixed, taking account of the need to ensure that prices reflect the market situation.
4.Member States shall notify the Commission regularly of the prices and quantities of imports of the products in Annexes I to IV, recorded on their markets or in their ports. These prices shall be equal to the customs value of the products concerned.
5.Detailed rules for the application of this Article, including the fixing of the reference prices, shall be adopted in accordance with the procedure laid down in Article 38(2).