TITLE IIPRODUCER ORGANISATIONS

CHAPTER VGeneral provisions

Section 3Administrative penalties

Article 67Payment of recovered aid and penalties

1

Producer organisations and associations of producer organisations or other operators concerned shall reimburse unduly paid aid with interest and pay the penalties provided for in this Section.

The interest shall be calculated:

a

on the basis of the period elapsing between receipt of undue payment and its reimbursement by the beneficiary;

b

at the rate applied by the European Central Bank to its main refinancing operations published in the ‘C’ series of the Official Journal of the European Union and in force on the date on which the undue payment is made, plus three percentage points.

2

Aid recovered, interest and penalties imposed shall be paid to the EAGF.