Commission Regulation (EC) No 2354/1999 of 4 November 1999 fixing, for October 1999, the specific exchange rate for the amount of the reimbursement of storage costs in the sugar sector
Date: 1999-11-04
Institutions: European Commission
Subjects: exchange rate, redemption, storage cost, sugar

5. 11. 1999

EN

Official Journal of the European Communities

L 282/7

COMMISSION REGULATION (EC) No 2354/1999

of 4 November 1999

fixing, for October 1999, the specific exchange rate for the amount of the reimbursement 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 (EC) No 2038/1999 of 13
September 1999 on the common organisation of the markets
in the sugar sector (1),

Having regard to Council Regulation (EC) No 2799/98 of 15
December 1998 establishing agrimonetary arrangements for
the euro (2),

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 (3), as last
amended by Regulation (EC) No 1642/1999 (4), and in partic-
ular Article 1(3) thereof,

Whereas:

(1)

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 (EC) No 2038/
1999 is to be converted into national currency using a
specific agricultural conversion rate equal to the average,
calculated pro rata temporis, of the agricultural conversion
rates applicable during the month of storage;
that
specific rate must be fixed each month for the previous
the reimbursable
in the case of
month; however,
amounts applying from 1 January 1999, as a result of

the introduction of the agrimonetary arrangements for
the euro from that date, the fixing of the conversion rate
rates
should be
prevailing between the euro and the national currencies
of the Member States that have not adopted the single
currency;

limited to the

exchange

specific

(2)

Application of these provisions will lead to the fixing,
for October 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 (EC) No 2038/1999 into national
currency for October 1999 shall be as indicated in the Annex
hereto.

Article 2

This Regulation shall enter into force on 5 November 1999.

It shall apply with effect from 1 October 1999.

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

Done at Brussels, 4 November 1999.

For the Commission

Franz FISCHLER

Member of the Commission

(1) OJ L 252, 25.9.1999, p. 1.
(2) OJ L 349, 24.12.1998, p. 1.
(3) OJ L 159, 1.7.1993, p. 94.
(4) OJ L 195, 28.7.1999, p. 3.

L 282/8

EN

Official Journal of the European Communities

5. 11. 1999

to the Commission Regulation of 4 November 1999 fixing, for October 1999, the exchange rate for the amount
of the reimbursement of storage costs in the sugar sector

ANNEX

Specific exchange rate

EUR 1 =

7,43364

329,172

8,72811
0,646100

Danish kroner
Greek drachma
Swedish kroner
Pound sterling