Windfall sales profit claw-back
The Guide to Single Farm Payment Scheme recently published by the Department of Agriculture has details of a Windfall Profit Clause, under which a Member State may clawback for the National Reserve, a percentage of the entitlements to be established for a farmer who sold or leased a holding or part of it, or sold or leased premium rights (quotas) during the reference period or not later than May 15, 2004.
It is also confirmed in the Guide that a sales contract concluded or modified by the closing date for receipt of applications for the Single Payment in 2005, which includes a clause stipulating that the entitlements are to be sold to the buyer of the land, can be regarded as a valid sale of the entitlements provided:
