EN
OPINION OF THE EUROPEAN CENTRAL BANK
of 17 May 2001
at the request of the Austrian  Ministry of Justice on a dr aft Second Federal Law containing
ancillary measures for the introduction of the euro
(2. Euro-Justiz-Begleitgesetz )
CON/2001/9
1. On 25 April 2001 the European Central Bank (ECB) received a request from the Austrian
Ministry of Justice on a draft Second Federal Law containing ancillary measures for the
introduction of the euro (hereinafter referred to as the draft law).
2. The ECBs competence to deliver an opinion is based on the second indent  of Article 105(4) of
the Treaty establishing the European Community , the second indent of Article 4(a) of the
Statute of the European System  of Central Banks and of the European Central Bank and the
first indent of Article 2(1) of Council Deci sion 98/415/EC of 29 June 1998 on the consultation
of the ECB by national authorities regarding draft legislative provisions1, as the legislative
proposal contains provisions concerning currency matters. The Governing Council of the ECB
has adopted this opinion in accordance with the first sentence of Article 17.5 of the Rules of
Procedure of the ECB.
3. The main purpose of the draft law is the conver sion of amounts and thresholds in schillings into
euro, to the extent that this replacement was not accomplished by the First Federal Law
containing ancillary measures for the introduction of the euro ( 1. Euro-Justiz-Begleitgesetz )2. 
4. The substitution of schilling amounts with euro amounts is based on the following principles.
/g183 In line with the Austrian national changeov er scenario the draft law provides for a
smoothing of signal amounts and thresholds  whereas the conversion of amounts of less
significance for the general public are directly converted by applying the irrevocably fixed
conversion rate.
                                                          
1OJ L 189, 3.7.1998, p. 42.
2The European Monetary Institute was consulted on the 1.Euro-Justiz-Begleitgesetz  and delivered an opinion on
13 February 1998 (CON/98/01). The 1. Euro-Justiz-Begleitgesetz  dealt with the adjustme nts necessary for 1 January
1999 and in particular introduced the euro options in the fields of accounting and the establishment of companies.
2/g183 The conversion to the euro was partly prepared in previous legislative amendments by
setting the schilling amounts to en able a relatively simple conversion into convenient and
round euro amounts (e.g. the Ceiling Amending  Law 1997 in the area of civil procedure,
Erweiterte Wertgrenzen-Novelle  1997).
/g183 Provisions concerning fees (e .g. notary and expert fees) are to have no impact on costs.
Consequently, limited smoothing is foreseen  (rounding to whole 10 cent amounts), which
should have no impact on costs. The intr oduction of the euro should not result in
advantages or disadvantages for specific groups (such as notaries, experts or interpreters on
the one hand, or their clients or customers on the other).
/g183 In the field of consumer protection, the amount s have been smoothed to the benefit of the
consumer.
/g183 Some penal provisions have been smoothed down which is deemed to be in the interest of
the citizens. However, the Penal Code is ad apted to the euro in a separate amendment,
which will also contain a general revision of penal provisions.
5. The ECB welcomes the draft law, which provid es for the replacement of schilling amounts with
euro amounts in the area of civil law. Such adjust ments are in the interest of legal clarity and
transparency of the national legal system. 
6. The ECB takes note that a direct  conversion of amounts contained in legal acts according to the
provisions laid down by Council Regulati on (EC) No 1103/97 of 17 June 1997 on certain
provisions relating to the introduction of the euro3 is not always regarded as appropriate by the
Austrian Ministry of Justice. With regard to a number of legislative provisions, a smoothing of
signal amounts is considered necessary for reas ons of transparency and practicability. The ECB
also notes the underlying principles regarding th e extent and the directi on of such smoothing. In
particular, the ECB welcomes and underlines the importance of the principle of no impact on
costs. It is noted that as regards specifi c provisions of the C onsumer Protection Act
implementing Council Directive 87/102/EEC of  22 December 1986 for the approximation of
the laws, regulations and administrative provisi ons of the Member States concerning consumer
credit4, the draft law introduces higher thresholds than provided by the Directive. This is
possible as the Directive represents a minimum harmonisation measure.
7. The ECB notes that the 2. Euro-Justiz-Begleitgesetz   enters into force on 1 January 2002 unless
provided otherwise. The ECB welcomes the trans itory regime regarding fees described in the
explanatory memorandum, which makes reference to Article 14 of Regulation (EC) No 974/98
on the introduction of the euro5 and to Articles 4 and 5 of  Regulation (EC) No 1103/97.
                                                          
3OJ L 162, 19.6.1997, p. 1.
4OJ L 42, 12.2.1987, p. 48.
5OJ L 139, 11.5.1998, p. 1.
38. The ECB confirms that it has no objections to publication of this opinion by the competent
national authorities.
Done at Frankfurt am Main on 17 May 2001.
The President of the ECB
[signed]
Willem F. DUISENBERG