1. Exports shall be set off against the quantitative limits Community authorities shall immediately inform the established for the year in which shipment of the goods has authorities of Korea and the special consultation procedure been effected , even if the export certificate is issued after such set out im Article 16 ( 1 ) of the Agreement shall be initiated shipment . forthwith . 2. For the purposes of applying paragrpah 1 , shipment of 2. Exports of Korean origin not covered by export the goods is considered to have taken place on the date of licences issued in accordance with the provisions of this their loading on to the exporting aircraft , vehicle or Protocol may be refused the issue of import authorizations or vessel . documents by the competent Community authorities . However, if the import of such products are allowed into the Article 10 Community by the competent Community authorities , the quantities involved shall not be set off against the appropriate The presentation of an export licence , in application of quantitative limits set out in Annex II or established as a Article 12 below , shall be effected not later than 31 March of result of the application of Articles 7 or 8 of the Agreement , the year following that in which the goods covered by the without the express agreement of the Republic of Korea save licence have been shipped . as provided for in Article 11 of the Agreement . ---pagebreak--- 16 . 10 . 86 Jornal Oficial das Comunidades Europeias N ? L 293 / 85 TITLE IV Article 16FORM AND PRODUCTION OF EXPORT CERTIFICATES