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This Order designates the Commissioners of Customs and Excise to exercise powers conferred by section 2(2) of the European Communities Act 1972, to make regulations in relation to the payment by the Commissioners of Customs and Excise to the Intervention Board for Agricultural Produce of sums equivalent to amounts paid to them as the monetary compensatory amounts charged on imports into the United Kingdom from other Member States of the European Economic Community and to excise matters of the European Communities.
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