Article 3 of Regulation (EC) No 633/2004 is hereby amended as follows:
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Paragraph 4 is replaced by the following:
‘4.Where the issue of export licences would or might result in the available budgetary amounts being exceeded or in the maximum quantities which may be exported with a refund being exhausted during the period concerned, in view of the limits referred to in Article 8(11) of Regulation (EEC) No 2777/75, or would not allow exports to continue during the remainder of the period, the Commission may:
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set a single acceptance percentage for the quantities applied for;
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reject applications for which licences have not yet been granted;
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suspend the lodging of licence applications for a maximum period of five working days, extendable by the procedure specified in Article 17 of Regulation (EEC) No 2777/75.
Licence applications made during the suspension period shall be invalid.
The measures provided for in the first subparagraph may be implemented or modulated by category of product and by destination.’
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The following paragraph 4a is inserted:
‘4a.The measures provided for in paragraph 4 may also be adopted where export licence applications relate to quantities which exceed or might exceed the normal disposable quantities for one destination and issuing the licences requested would entail a risk of speculation, distortion of competition between operators, or disturbance of the trade concerned or of the Community market.’