Commission Regulation (EC) No 736/1999 of 8 April 1999 adjusting the compensatory agrimonetary aid granted in Ireland
Date: 1999-04-08
Institutions: European Commission
Subjects: Ireland, agri-monetary policy, aid to agriculture, monetary compensatory amount, revaluation

9. 4. 1999

EN

Official Journal of the European Communities

L 94/13

COMMISSION REGULATION (EC) No 736/1999

of 8 April 1999

adjusting the compensatory agrimonetary aid granted in Ireland

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

appreciable revaluation of 11 January 1997; whereas,
because of the conversion rate reached, the amount of the
third tranche of aid for Ireland should be adjusted;

Having regard to the Treaty establishing the European
Community,

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 9 thereof,

Whereas Commission Regulation (EC) No 806/97 of 2
May 1997 fixing the maximum amounts of compensatory
aid relating to appreciable revaluations of the Irish pound,
the pound sterling and the Italian lira occurring prior to
31 March 1997 (2), as last amended by Regulation (EC) No
1219/97 (3), establishes the maximum amount of aid
arising from the appreciable revaluations of
the Irish
pound on 11 January and 29 March 1997;

Whereas the third subparagraph of Article 10(3) of Regu-
lation (EC) No 2799/98 states that the references to the
compensatory aid provided for in Council Regulations
(EEC) No 3813/92 (4), as last amended by Regulation (EC)
No 150/95 (5), and (EC) No 724/97 (6), as last amended by
Regulation (EC) No 942/98 (7), are to be construed as
referring to Articles 4, 5 and 6 of Regulation (EC) No
2799/98;

Whereas the second subparagraph of Article 4(5) of Regu-
lation (EC) No 2799/98 states that the amounts paid out
under the second and third tranches are to be reduced or
cancelled as a function of the effect on incomes of the
development of exchange rates recorded until the begin-
ning of the month preceding the first month of the
relevant tranche;

Whereas the conversion rate for the Irish pound at the
beginning of the month preceding the first month of the
third tranche was higher than the rate on the date of its

(1) OJ L 349, 24.12.1998, p. 1.
(2) OJ L 115, 3.5.1997, p. 16.
(3) OJ L 170, 28.6.1997, p. 56.
(4) OJ L 387, 31.12.1992, p. 1.
(5) OJ L 22, 31.1.1995, p. 1.
(6) OJ L 108, 25.4.1997, p. 9.
(7) OJ L 132, 6.5.1998, p. 1.

Whereas the conversion rate for the Irish pound at the
beginning of the month preceding the first month of the
third tranche was higher than the rate on the date of its
appreciable revaluation of 29 March 1997; whereas,
because of the conversion rate reached, the amount of the
third tranche of aid for Ireland should be cancelled;

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 amount of the third tranche of compensatory
aid for Ireland resulting from the principal amount of the
first tranche provided for by Regulation (EC) No 806/97
in respect of the appreciable revaluation of 11 January
1997 is reduced from ECU 35,07 million to ECU 6,62
million.

2.
The amount of the third tranche of compensatory
aid for Ireland resulting from the principal amount of the
first tranche provided for by Regulation (EC) No 806/97
in respect of the appreciable revaluation of 29 March
1997 is cancelled.

Article 2

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

L 94/14

EN

Official Journal of the European Communities

9. 4. 1999

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

Done at Brussels, 8 April 1999.

For the Commission

Franz FISCHLER

Member of the Commission