Commission Regulation (EC) No 1173/1999 of 3 June 1999 fixing, for May 1999, the specific exchange rate for the amount of the reimbursement of storage costs in the sugar sector
Date: 1999-06-03
Institutions: European Commission
Subjects: exchange rate, redemption, storage cost, sugar

L 141/18

EN

Official Journal of the European Communities

4. 6. 1999

COMMISSION REGULATION (EC) No 1173/1999

of 3 June 1999

fixing, for May 1999, the specific exchange rate for the amount of the reimburse-
ment of storage costs in the sugar sector

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European
Community,

Having regard to Council Regulation (EEC) No 1785/81
of 30 June 1981 on the common organisation of the
markets
last amended by
Commission Regulation (EC) No 1148/98 (2),

in the sugar

sector (1), as

Having regard to Council Regulation (EC) No 2799/98 of
15 December 1998 establishing agrimonetary arrange-
ments for the euro (3),

Having regard to Commission Regulation (EEC) No
1713/93 of 30 June 1993 establishing special detailed
rules for applying the agricultural conversion rate in the
sugar sector (4), as last amended by Regulation (EC) No
624/1999 (5), and in particular Article 1(3) thereof,

Whereas Article 1(2) of Regulation (EEC) No 1713/93
provides that the amount of the reimbursement of storage
costs referred to in Article 8 of Regulation (EEC) No
1785/81 is to be converted into national currency using a
specific agricultural conversion rate equal to the average,
calculated pro rata temporis, of the agricultural conver-
sion rates applicable during the month of storage; whereas
that specific rate must be fixed each month for the
previous month; whereas, however,
in the case of the
reimbursable amounts applying from 1 January 1999, as a

result of the introduction of the agrimonetary arrange-
ments for the euro from that date, the fixing of the
conversion rate should be limited to the specific exchange
rates prevailing between the euro and the national curren-
cies of the Member States that have not adopted the
single currency;

Whereas application of these provisions will lead to the
fixing, for May 1999, of the specific exchange rate for the
amount of the reimbursement of storage costs in the
various national currencies as indicated in the Annex to
this Regulation,

HAS ADOPTED THIS REGULATION:

Article 1

The specific exchange rate to be used for converting the
amount of the reimbursement of the storage costs referred
to in Article 8 of Regulation (EEC) No 1785/81 into
national currency for May 1999 shall be as indicated in
the Annex hereto.

Article 2

This Regulation shall enter into force on 4 June 1999.

It shall apply with effect from 1 May 1999.

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

Done at Brussels, 3 June 1999.

For the Commission

Franz FISCHLER

Member of the Commission

(1) OJ L 177, 1.7.1981, p. 4.
(2) OJ L 159, 3.6.1998, p. 38.
(3) OJ L 349, 24.12.1998, p. 1.
(4) OJ L 159, 1.7.1993, p. 94.
(5) OJ L 78, 24.3.1999, p. 9.

4. 6. 1999

EN

Official Journal of the European Communities

L 141/19

to the Commission Regulation of 3 June 1999 fixing, for April 1999, the exchange rate for
the amount of the reimbursement of storage costs in the sugar sector

ANNEX

Specific exchange rate

EUR 1 =

7,46231

325,267

8,96446
0,658394

Danish kroner
Greek drachma
Swedish kroner
Pound sterling