Article 16
1. The maximum overall quantity for which any one party may apply by lodging one or more licence applications shall be that laid down in Annex IV to Regulation (EC) No 1440/95 and in subsequent annual tariff quota regulations for the quarter in which the licence application(s) concerned is (are) lodged. 2. Applications for licences may be lodged only during the first 10 days of each of the first three quarters of the year and during the first 10 days of September. 3. Applications for licences, broken down by product (referring to total quantities expressed in carcasse equivalent) and by country of origin, shall be forwarded by the Member States to the Commission no later than the sixteenth day of each of the first three quarters and by 16 September, at 5 pm. 4. The Commission shall decide, before the twenty-sixth day of each of the first three quarters and before 26 September by product and by country of origin, either: (a) to authorize the issue of licences for all the quantities applied for, or (b) to reduce all the quantities applied for by the same percentage. Subject to the Commission decision Member States shall issue the licences only within the quantities for which they have forwarded application to the Commission. 5. Licences shall be issued on the thirthieth day of each of the first three quarters and on 30 September. 6. On issue each import licence shall bear the reference in Box 20 'issued in accordance with Title II.B of Regulation (EC) No 1439/95.`