Release and forfeiture of securities
Article 5
1. Article 7 of Delegated Regulation (EU) 2016/1237 shall apply to the release and forfeiture of securities for a licence for a tariff quota. 2. By way of derogation from Article 23(4) of Delegated Regulation (EU) No 907/2014, where the release for free circulation in the Union or export from the Union took place within the period of validity of the licence, but the time limit for submission of the proof of that release or export is exceeded, the security shall be forfeited by 3 % for each calendar day by which the time limit is exceeded. 3. The security shall be released for the quantities for which a licence has not been issued following the application of an allocation coefficient pursuant to Article 10 of Implementing Regulation (EU) 2020/761.