1998R1426 — EN — 24.03.1999 — 001.001 — 1
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►B COMMISSION REGULATION (EC) No 1426/98
of 3 July 1998
fixing the maximum amount of compensatory aid for the appreciable revaluation of the pound
sterling on 3 May 1998
(OJ L 190, 4.7.1998, p. 17)
Amended by:
Official Journal
No page date
►M1Commission Regulation (EC) No 571/1999 of 16 March 1999 L 70 15 17.3.1999
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▼B
COMMISSION REGULATION (EC) No 1426/98
of 3 July 1998
fixing the maximum amount of compensatory aid for the appreci-
able revaluation of the pound sterling on 3 May 1998
THE COMMISSION OF THE EUROPEAN COMMUNITIES,
Havingreg ard to the Treaty establishingthe European Community,
Having regard to Council Regulation (EC) No 724/97 of 22 April 1997
determiningmeasures and compensation relatingto appreciable revalu-ations that affect farm incomes(
1), as last amended by Regulation (EC)
No 942/98 (2), and in particular Article 7 thereof,
Whereas Regulation (EC) No 724/97 lays down that the Member States
may grant aid to farmers to compensate for an appreciable revaluation;whereas such compensatory aid is to be granted under the conditionsindicated in that Regulation and in Commission Regulation (EC) No805/97 of 2 May 1997 layingdown detailed rules for compensationrelatingto appreciable revaluations(
3);
Whereas the amount of compensatory aid is calculated in accordance
with Articles 4, 5 and 6 of Regulation (EC) No 724/97 and includes aprincipal amount and, where appropriate, supplementary amounts underthe second subparagraph of Article 3(2) of that Regulation;
Whereas, to facilitate the preparations for granting this compensatory
aid, the maximum principal amount of the first instalment thereofshould be fixed on the basis of the latest data available on the sterlingpound revaluation that occurred on 3 May 1998; whereas this maximumamount is established without prejudice to a reduction or cancellation incase of an increase in the agricultural conversion rate in the observationperiod referred to in Article 4(3) of Regulation (EC) No 724/97, withoutprejudice to account beingtaken of the situation on the market in thesame observation period and without prejudice to the possibility ofgranting supplementary amounts under the second subparagraph ofArticle 3(2) of that Regulation;
Whereas, to apply Regulation (EC) No 805/97, the period referred to in
Article 3(1) of that Regulation must be specified so that the aid is linkedto previous production;
Whereas the measures provided for in this Regulation are in accordance
with the opinion of the relevant management committees,
HAS ADOPTED THIS REGULATION:
Article 1
For the United Kingdom, the principal amount of the first instalment of
compensatory aid within the meaningof Article 1(2) of Reg ulation (EC)No 805/97 shall be a maximum of ►
M1EUR 0◄million in the case
of the appreciable revaluation that occurred on 3 May 1998.
Article 2
1. The amount fixed by this Regulation is established without preju-
dice to the effects of Article 4(3) of Regulation (EC) No 724/97.
(1) OJ L 108, 25. 4. 1997, p. 9.
(2) OJ L 132, 6. 6. 1998, p. 1.
(3) OJ L 115, 3. 5. 1997, p. 13.
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▼B
2. To grant the compensatory aid the maximum amount of which isfixed by this Regulation, the period referred to in Article 3(1) ofRegulation (EC) No 805/97 shall end on 30 April 1998 at the latest.
Article 3
This Regulation shall enter into force on the seventh day following its
publication in the Official Journal of the European Communities .
This Regulation shall be binding in its entirety and directly applicable in
all Member States.