Commission Regulation (EC) No 2181/98 of 9 October 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: 1998-10-09
Institutions: European Commission
Subjects: Sweden, United Kingdom, aid to agriculture, monetary compensatory amount, representative rate

L 275/16

EN

Official Journal of the European Communities

10. 10. 98

COMMISSION REGULATION (EC) No 2181/98

of 9 October 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 last 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 August 1998 to avoid differ-
ences of more than 11,5 % from the agricultural conver-
sion rates current on that date; whereas, in order to facil-
itate the administration of the aids concerned, the rates
applicable for them from 1 August 1998 should be speci-
fied 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

(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.

relating to appreciable revaluations (5), as last amended by
Regulation (EC) No 1425/98 (6), provides for supple-
mentary amounts of compensatory aid to be paid in addi-
tion to that compensation; whereas the maximum supple-
mentary amount of the first tranche of compensatory aid
for the reduction in the aid referred to in Article 7 of
Regulation (EEC) No 3813/92 for which the operative
event occurs on 1 August 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 relevant manage-
ment committees,

HAS ADOPTED THIS REGULATION:

Article 1

1.
The agricultural conversion rate of ECU 1 = GBP
0,803724, applicable on 31 July 1998 to the aids referred
to in Article 7 of Regulation (EEC) No 3813/92 for which
the operative event occurs on 1 August 1998, shall be
replaced from this latest date in respect of
the aids
concerned by ECU 1 = GBP 0,755249.

2.
The agricultural conversion rate of ECU 1 = SEK
9,90747, applicable on 31 July 1998 to the aids referred to
in Article 7 of Regulation (EEC) No 3813/92 for which
the operative event occurs on 1 August 1998, shall be
replaced from this latest date in respect of
the aids
concerned by ECU 1 = SEK 9,80430.

Article 2

1.
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(1) shall be ECU 1,21 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 0,00 million for
Sweden.

(5) OJ L 115, 3. 5. 1997, p. 13.
(6) OJ L 190, 4. 7. 1998, p. 16.

10. 10. 98

EN

Official Journal of the European Communities

L 275/17

Article 3

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

It shall apply with effect from 1 August 1998.

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

Done at Brussels, 9 October 1998.

For the Commission

Franz FISCHLER

Member of the Commission