EN Official Journal of the European Communities 9. 4. 98 L 111/70
COMMISSION REGULATION (EC) No 777/98
of 8 April 1998
fixing, for March 1998, the specific agricultural conversion rate for the amount of
the reimbursement of storage costs in the sugar sector
THE COMMISSION OF THE EUROPEAN COMMUNITIES,
Having regard to the Treaty establishing the EuropeanCommunity,
Having regard to Council Regulation (EEC) No 1785/81
of 30 June 1981 on the common organisation of themarkets in the sugar sector (
1), as last amended by Regula-
tion (EC) No 1599/96 (2),
Having regard to Council Regulation (EEC) No 3813/92
of 28 December 1992 on the unit of account and theconversion rates to be applied for the purposes of thecommon agricultural policy (
3), as last amended by Regu-
lation (EC) No 150/95 (4),
Having regard to Commission Regulation (EEC) No
1713/93 of 30 July 1993 establishing special detailedrules for applying the agricultural conversion rate in thesugar sector (
5), as last amended by Regulation (EC) No
59/97 (6), and in particular Article 1(3) thereof,
Whereas Article 1(2) of Regulation (EEC) No 1713/93
provides that the amount of the reimbursement of storagecosts referred to in Article 8 of Regulation (EEC) No1785/81 is to be converted into national currency using aspecific agricultural conversion rate equal to the average,calculated pro rata temporis, of the agricultural conver-sion rates applicable during the month of storage; whereas
that specific rate must be fixed each month for theprevious month;
Whereas application of these provisions will lead to the
fixing, for March 1998, of the specific agricultural conver-sion rate for the amount of the reimbursement of storagecosts in the various national currencies as indicated in theAnnex to this Regulation,
HAS ADOPTED THIS REGULATION:
Article 1
The specific agricultural conversion rate to be used to
convert the amount of the reimbursement of storage costsreferred to in Article 8 of Regulation (EEC) No 1785/81into each of the national currencies for March 1998 shallbe as indicated in the Annex hereto.
Article 2
This Regulation shall enter into force on 9 April 1998.It shall apply with effect from 1 March 1998.
This Regulation shall be binding in its entirety and directly applicable in all Member
States.
Done at Brussels, 8 April 1998.
For the Commission
Franz FISCHLER
Member of the Commission
(1) OJ L 177, 1. 7. 1981, p. 4.
(2) OJ L 206, 16. 8. 1996, p. 43.
(3) OJ L 387, 31. 12. 1992, p. 1.
(4) OJ L 22, 31. 1. 1995, p. 1.
(5) OJ L 159, 1. 7. 1993, p. 94.
(6) OJ L 14, 17. 1. 1997, p. 25.
EN Official Journal of the European Communities 9. 4. 98 L 111/71
ANNEX
to the Commission Regulation of 8 April 1998 fixing, for March 1998, the specific
agricultural conversion rate for the amount of the reimbursement of storage costs in the
sugar sector
Agricultural conversion rates
ECU 1 = 40,9321 Belgian and Luxembourg francs
7,54999 Danish kroner1,98243 German marks
326,870 Greek drachmas167,527 Spanish pesetas
6,68769 French francs0,795837 Irish pound
1 973,93 Italian lire
2,23276 Dutch guilders
13,9485 Austrian schillings
202,297 Portuguese escudos
6,02811 Finnish marks8,79309 Swedish kroner
0,695735 Pound sterling