Commission Regulation (EC) No 2810/98 of 22 December 1998 introducing transitional measures relating to agricultural conversion rates fixed in advance before 1 January 1999
Date: 1998-12-22
Institutions: European Commission
Subjects: agri-monetary policy, common agricultural policy, representative rate

L 349/44

EN

Official Journal of the European Communities

24. 12. 98

COMMISSION REGULATION (EC) No 2810/98

of 22 December 1998

introducing transitional measures relating to agricultural conversion rates fixed
in advance before 1 January 1999

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

HAS ADOPTED THIS REGULATION:

Having regard to the Treaty establishing the European
Community,

Article 1

Having regard to Council Regulation (EC) No 2799/98 of
15 December 1998 establishing agrimonetary arrange-
ments for the euro (1), and in particular Article 10 thereof,

Whereas Regulation (EC) No 2799/98 repeals Council
Regulation (EEC) No 3813/92 (2), as last amended by
Regulation (EC) No 150/95 (3), Article 6(2a) of which
stipulates that the agricultural conversion rate may be
fixed in advance;

Whereas the possibility of fixing the agricultural conver-
sion rate in advance expires on 31 December 1998;
whereas, however,
the term of validity of agricultural
conversion rates fixed in advance is equal to that of the
advance fixing of the amount concerned or that of the
award;

Whereas it should be specified that
the agricultural
conversion rate fixed in advance during the last reference
period of 1998 is the same as that resulting from the
quotations of the representative rate for that period;

Whereas the conversion rate for participating Member
and the exchange rate for non-participating
States
Member States may diverge from the agricultural conver-
sion rate fixed in advance; whereas too large a gap may
distort competition; whereas, therefore, the agricultural
conversion rate fixed in advance must be adjusted where
it diverges by more than 4 % from the above conversion
rate or the above exchange rate which would have been
applied had the rate not been fixed in advance;

Whereas the validity of the certificates is not restricted to
the territory of a single Member State; whereas it is, there-
fore, advisable to lay down appropriate measures to avoid
speculation;

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

(1) See page 1 of this Official Journal.
(2) OJ L 387, 31. 12. 1992, p. 1.
(3) OJ L 22, 31. 1. 1995, p. 1.

that

In the event

the absolute value of

1.
the gap
between the agricultural conversion rate fixed in advance
for a certain currency, where necessary adjusted in accord-
ance with Article 15(1) of Regulation (EEC) No 1068/93,
and the conversion rate or the exchange rate in force at
the time of the operative event referred to in Article 3(1)
of Regulation (EC) No 2799/98 exceeds four points, the
agricultural conversion rate fixed in advance shall be
adjusted to bring it closer to the rate in force until it
reaches the level of a four-point gap with that rate.

The agricultural conversion rate fixed in advance during
the last reference period of 1998 shall be the same as that
resulting from the quotations of the representative rate for
that period.

2. During the term of validity of advance fixing of the
agricultural conversion rate, and in order to qualify for the
rate fixed in advance, certificates must be used in the
Member State specified by the applicant at the time the
application for advance fixing of the agricultural conver-
sion rate was submitted.

Where certificates are used in a Member State other than
that specified on the certificate by the applicant, the
agricultural conversion rate to be applied shall be:

— the lowest rate applied in the Member State of utilisa-
tion of the certificate from the date of advance fixing
until the date of utilisation of the certificate, less 5 %,
where an amount to be granted to the operator is
concerned,

— the highest rate applied in the Member State of util-
isation of the certificate from the date of advance
fixing until the date of utilisation of the certificate,
plus 5 %, where an amount to be paid by the operator
is concerned.

Article 2

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

It shall apply from 1 January 1999.

24. 12. 98

EN

Official Journal of the European Communities

L 349/45

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

Done at Brussels, 22 December 1998.

For the Commission

Franz FISCHLER

Member of the Commission