The allocation requests received by the Commission shall be ranked in ascending order of quantity and an annual allocation shall then be determined for each 'newcomer operator up to a maximum of the individual quantity requested, arrived at
by a process of allocating to all operators the smallest requested quantity remaining in each round. The Commission shall determine without delay the quantities for which annual allocations are granted. If the procedure in the first
subparagraph results in an operator's receiving an annual allocation smaller than the amount requested, the security provided for in paragraph 1 shall be released in proportion to the reduction arrived at.
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