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Council Regulation (EC) No 980/2005 of 27 June 2005 applying a scheme of generalised tariff preferences article 3 CELEX: 02005R0980-20080301 1. A beneficiary country shall be removed from the scheme when it has been classified by the World Bank as a high-income country during three consecutive years, and when the value of imports for the five largest sections of its GSP-covered imports to the Community represent less than 75 % of the total GSP-covered imports of the beneficiary country to the Community. 2. When a beneficiary country benefits from a preferential commercial agreement with the Community which covers at least all the preferences provided by the present scheme for that country, it shall be removed from the list of beneficiary countries in Annex I. 3. The Commission shall notify a beneficiary country of its removal from the list of beneficiary countries in Annex I. |