Commission Regulation (EC) No 1891/98 of 3 September 1998 setting the agricultural conversion rates applicable to certain aids in the United Kingdom and Sweden and the resulting maximum amounts of compensatory aid
Date: 1998-09-03
Institutions: European Commission
Subjects: EU aid, Sweden, United Kingdom, aid to agriculture, monetary compensatory amount, representative rate

L 245/30

EN

Official Journal of the European Communities

4. 9. 98

COMMISSION REGULATION (EC) No 1891/98

of 3 September 1998

setting the agricultural conversion rates applicable to certain aids in the United
Kingdom and Sweden and the resulting maximum amounts of compensatory aid

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European
Community,

Having regard to Council Regulation (EC) No 724/97 of
22 April 1997 determining measures and compensation
relating to appreciable revaluations
farm
incomes (1), as amended by Regulation (EC) No 942/98 (2),
and in particular Article 7 thereof,

that affect

Whereas, pursuant to Article 3(1), first subparagraph, of
Regulation (EC) No 724/97 as regards the pound sterling
and the Swedish crown, the agricultural conversion rates
applicable to the aid referred to in Article 7 of Council
Regulation (EEC) No 3813/92 of 28 December 1992 on
the unit of account and the conversion rates to be applied
for the purposes of the common agricultural policy (3), as
last amended by Regulation (EC) No 150/95 (4), shall not
be reduced as a result of appreciable revaluations of the
currencies concerned; whereas, however, Article 3(1),
second subparagraph, of Regulation (EC) No 724/97
provides for a reduction in the agricultural conversion rate
applicable to one of the aids referred to in Article 7 of
Regulation (EEC) No 3813/92 where, because of measures
taken following an appreciable revaluation,
rate
exceeds the current agricultural conversion rate by more
than 11,5 %; whereas, in such cases, the conversion rate
to be applied is equal to the current agricultural conver-
sion rate plus 11,5 %;

that

Whereas the agricultural conversion rates for the pound
sterling and the Swedish crown applicable to some of the
aids referred to in Article 7 of Regulation (EEC) No
3813/92 were reduced from 1 July 1998 to avoid differ-
ences of more than 11,5 % from the agricultural conver-
sion rates current on that date; whereas, in order to facili-
tate the administration of the aids concerned, the rates
applicable for them from 1 July 1998 should be specified
and fixed;

Whereas Article 4(2) of Regulation (EC) No 724/97
provides for compensation for the effects of the reduction
in the agricultural conversion rates applicable to the aids
referred to in Article 7 of Regulation (EEC) No 3813/92;
whereas Commission Regulation (EC) No 805/97 of 2
May 1997 laying down detailed rules for compensation
relating to appreciable revaluations (5), as last amended by
Regulation (EC) No 1425/98 (6), provides for supplemen-

(1) OJ L 108, 25. 4. 1997, p. 9.
(2) OJ L 132, 6. 5. 1998, p. 1.
(3) OJ L 387, 31. 12. 1992, p. 1.
(4) OJ L 22, 31. 1. 1995, p. 1.
(5) OJ L 115, 3. 5. 1997, p. 13.
(6) OJ L 190, 4. 7. 1998, p. 16.

tary amounts of compensatory aid to be paid in addition
to that compensation; whereas the maximum supplemen-
tary amount of the first tranche of compensatory aid for
the reduction in the aid referred to in Article 7 of Regula-
tion (EEC) No 3813/92 for which the operative event
occurs on 1 July 1998 should be fixed for the United
Kingdom and Sweden;

Whereas the measures provided for in this Regulation are
in accordance with the opinion of
the Management
Committees concerned,

HAS ADOPTED THIS REGULATION:

Article 1

The agricultural conversion rate of 1 ECU =
1.
0,803724 pounds sterling, applicable on 30 June 1998 to
the aids referred to in Article 7 of Regulation (EEC) No
3813/92 for which the operative event occurs on 1 July
1998, shall be replaced from these latest dates in respect
of the aids concerned by 1 ECU = 0,755249 pounds
sterling.

2.
The agricultural conversion rate of 1 ECU = SEK
9,90747, applicable on 30 June 1998 to the aids referred
to in Article 7 of Regulation (EEC) No 3813/92 for which
the operative event occurs on 1 July 1998, shall be
replaced from these latest dates in respect of the aids
concerned by 1 ECU = SEK 9,80430.

Article 2

The maximum supplementary amount of the first
1.
tranche of compensatory aid that may be granted as a
result of the reduction in the agricultural conversion rate
referred to in Article 1(1) shall be ECU 110,98 million for
the United Kingdom.

2.
The maximum supplementary amount of the first
tranche of compensatory aid that may be granted as a
result of the reduction in the agricultural conversion rate
referred to in Article 1(2) shall be ECU 4,43 million for
Sweden.

Article 3

This Regulation shall enter into force on the seventh day
following its publication in the Official Journal of the
European Communities.

4. 9. 98

EN

Official Journal of the European Communities

L 245/31

This Regulation shall be binding in its entirety and directly applicable in all Member
States.

Done at Brussels, 3 September 1998.

For the Commission

Franz FISCHLER

Member of the Commission