Commission Regulation (EC) No 2200/1999 of 15 October 1999 fixing the maximum compensatory aid resulting from the rates for the conversion of the euro into national currency units and the exchange rates applicable on 1 August 1999
Date: 1999-10-15
Institutions: European Commission
Subjects: euro, exchange rate, monetary compensatory amount, national currency, production aid, textile plant

L 268/8

EN

Official Journal of the European Communities

16. 10. 1999

COMMISSION REGULATION (EC) No 2200/1999

of 15 October 1999

fixing the maximum compensatory aid resulting from the rates for the conversion of the euro into
national currency units and the exchange rates applicable on 1 August 1999

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European
Community,

Having regard to Council Regulation (EC) No 2799/98 of 15
December 1998 establishing agrimonetary arrangements for
the euro (1), and in particular Article 5 thereof,

Having regard to Council Regulation (EC) No 2800/98 of 15
December 1998 on transitional measures to be applied under
the common agricultural policy with a view to the introduction
of the euro (2), and in particular Article 3 thereof,

(1) Whereas Article 3(1) of Regulation (EC) No 2800/98
provides that compensatory aid is to be paid where the
conversion rate for the euro into national currency units
or the exchange rate applicable on the date of the oper-
is below the rate previously applicable;
ative event
whereas, however,
that provision does not apply to
amounts to which a rate lower than the new rate applied
in the 24 months preceding the new rate's entry into
force;

(2) Whereas the conversion rate for the euro into national
currency units applicable from 1 January 1999 is below
the rate previously applicable for Belgium, France,
Ireland, Italy, Luxembourg, Spain and Finland; whereas
the exchange rates for the Danish krone, the Swedish
krona and the pound sterling applicable on 1 August
1999, the date of the operative event, are below the
rates previously applicable;

(3) Whereas the compensatory aid is to be granted on the
terms set out in Regulation (EC) No 2799/98, Commis-
sion Regulation (EC) No 2808/98 of 22 December 1998
laying down detailed rules for the application of the

agrimonetary system for the euro in agriculture (3), as
last amended by Regulation (EC) No 1410/1999 (4), and
Commission Regulation (EC) No 2813/98 of 22
December 1998 laying down detailed rules for applying
the transitional measures for the introduction of the
euro to the common agricultural policy (5);

(4) Whereas the amounts of compensatory aid are estab-
lished in accordance with Articles 5 and 9 of Regulation
(EC) No 2799/98, Article 10 of Regulation (EC) No
2808/98 and Article 4 of Regulation (EC) No 2813/98;

(5) Whereas the measures provided for in this Regulation
are in accordance with the opinions of the Management
Committees concerned,

HAS ADOPTED THIS REGULATION:

Article 1

The maximum amounts of the first tranche of compensatory
aid to be granted as a result of the reduction recorded on the
date of the operative event, 1 August 1999, in the conversion
rates for the euro in force from 1 January 1999 in Belgium,
France, Ireland, Italy, Luxembourg, Spain and Finland and in
the exchange rates applicable on 1 August 1999 for the Danish
krone, the Swedish krona and the pound sterling as against the
agricultural conversion rates previously applicable shall be as
set out in the Annex hereto.

Article 2

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

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

Done at Brussels, 15 October 1999.

For the Commission

Franz FISCHLER

Member of the Commission

(1) OJ L 349, 24.12.1998, p. 1.
(2) OJ L 349, 24.12.1998, p. 8.

(3) OJ L 349, 24.12.1998, p. 36.
(4) OJ L 164, 30.6.1999, p. 53.
(5) OJ L 349, 24.12.1998, p. 48.

16. 10. 1999

EN

Official Journal of the European Communities

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