Commission Regulation (EC) No 1613/98 of 24 July 1998 adjusting the agrimonetary compensatory aid granted in Sweden
Date: 1998-07-24
Institutions: European Commission
Subjects: Sweden, agri-monetary policy, aid to agriculture, representative rate

L 209/26

EN

Official Journal of the European Communities

25. 7. 98

COMMISSION REGULATION (EC) No 1613/98

of 24 July 1998

adjusting the agrimonetary compensatory aid granted in Sweden

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European
Community,

Having regard to Council Regulation (EC) No 2990/95 of
18 December 1995 regulating compensation for appreci-
able reductions in the agricultural conversion rates before
1 July 1996 (1), as last amended by Regulation (EC) No
1451/96 (2), and in particular Article 2(4) thereof,

Whereas Regulation (EC) No 2990/95 establishes the
principle of an agrimonetary compensatory payment the
maximum amount of the first tranche of which is deter-
mined as a function of the size of the appreciable reduc-
tion in the agricultural conversion rates in question;
whereas the amounts of the second and third tranches of
the payments must be reduced relative to the first tranche
by at least one third of the amount granted during the
first tranche; whereas the appreciable reduction which
affected the Swedish krona on 7 July 1996 was 3,280 %;

Whereas Article 6(2) of Commission Regulation (EC) No
2921/95 of 18 December 1995 laying down detailed rules
for compensation for reductions in certain agricultural
conversion rates (3), as last amended by Regulation (EC)
No 1481/96 (4), provides for the maximum amounts of
the second and third tranches of the payments to be
adjusted on the basis of the impact on incomes of the
increase in the agricultural conversion rates occuring
before the start of those tranches; whereas, pursuant to
Article 2(1) of Regulation (EC) No 2990/95, the tranches
are determined for periods of 12 months, starting with the

month following the relevant appreciable reduction in the
agricultural conversion rate;

Whereas there have been several increases in the relevant
agricultural conversion rates between the dates of their
appreciable reductions and the start of the third tranche
of payments for Sweden;

the

agrimonetary

compensatory payments
Whereas
referred to in Regulation (EC) No 2990/95 are calculated
as lump sums; whereas, as a result of the level reached by
the agricultural conversion rates, the third tranche for
Sweden should be cancelled; whereas those adjustments
in payments must be applicable from the start of the
tranche in question;

Whereas the measures provided for in this Regulation are
in accordance with the opinion of the relevant manage-
ment committees,

HAS ADOPTED THIS REGULATION:

Article 1

The third tranche of compensatory payments for Sweden
provided for in Regulation (EC) No 2990/95 as a result of
the appreciable reduction in the agricultural conversion
rate which occurred on 7 July 1996 is hereby cancelled.

Article 2

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.

Done at Brussels, 24 July 1998.

For the Commission

Franz FISCHLER

Member of the Commission

(1) OJ L 312, 23. 12. 1995, p. 7.
(2) OJ L 187, 26. 7. 1996, p. 1.
(3) OJ L 305, 19. 12. 1995, p. 60.
(4) OJ L 188, 27. 7. 1996, p. 21.