Commission Regulation (EC) No 651/2001 of 30 March 2001 adjusting certain compensatory agrimonetary aids granted to Denmark and Sweden
Date: 2001-03-30
Institutions: European Commission
Subjects: Denmark, Sweden, exchange rate, monetary compensatory amount, national currency

L 91/58

EN

Official Journal of the European Communities

31.3.2001

COMMISSION REGULATION (EC) No 651/2001

of 30 March 2001

adjusting certain compensatory agrimonetary aids granted to Denmark and Sweden

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,

events in 2000 should be abolished in the case of
Denmark. A further reduction should also be applied to
the maximum amount of compensatory aid linked to
the operative events in 2000 in the case of Sweden.

(6)

The measures provided for in this Regulation are in
accordance with the opinions of
the Management
Committees concerned,

Whereas:

HAS ADOPTED THIS REGULATION:

(1)

(2)

(3)

(4)

(5)

For various Member States, the maximum amount of the
compensatory aid resulting from the rates for converting
the euro into national currency units and the exchange
rates applicable on 1 or 3 January 1999 is laid down in
Commission Regulation (EC) No 755/1999 (2).

The maximum amount of compensatory aid resulting
from the conversion rates applicable on 1 or 2 January
for Denmark, Sweden and the
2000 have been set
United Kingdom by Commission Regulation (EC) No
801/2000 (3).

Article 5(3) of Regulation (EC) No 2799/98 provides
that the maximum amounts paid out under the second
and third tranches are to be reduced vis-à-vis the level of
the previous tranche, by at least a third of the amount
paid out in the first tranche, while Article 5(4) of that
Regulation provides that
the maximum amount of
compensatory aid must be reduced or cancelled if neces-
sary as a function of the effect on income of the devel-
opment of the exchange rates recorded on the first day
of the second and third tranche.

The conversion rates applicable to certain direct aids
is 31 December 2000 or 1
whose operative event
January 2001 are laid down in Commission Regulation
(EC) No 408/2001 (4). The rates laid down for the
Danish krone and the Swedish krona indicate a deprecia-
tion of those currencies.

A further reduction should therefore be applied to the
maximum amount of the compensatory aid linked to
the operative events in 1999 while the maximum
amount of compensatory aid linked to the operative

Article 1

In the case of the measures whose operative event falls on 1
January 1999, the amounts of compensatory aid for Denmark
contained in the Annex to Regulation (EC) No 755/1999 shall
be multiplied by a factor of 0,9152.

In the case of the measures whose operative event falls on 3
January 1999, the amounts of compensatory aid for Denmark
contained in the Annex to Regulation (EC) No 755/1999 shall
be multiplied by a factor of 0,9168.

Article 2

The compensatory aid amounts for Denmark contained in the
Annex to Regulation (EC) No 801/2000 are hereby deleted.

Article 3

In the case of the measures whose operative event falls on 1
January 2000, the amounts of compensatory aid for Sweden
contained in the Annex to Regulation (EC) No 801/2000 shall
be multiplied by a factor of 0,8378.

In the case of the measures whose operative event falls on 2
January 2000, the amounts of compensatory aid for Sweden
contained in the Annex to Regulation (EC) No 801/2000 shall
be multiplied by a factor of 0,8462.

Article 4

(1) OJ L 349, 24.12.1998, p. 1.
(2) OJ L 98, 13.4.1999, p. 8.
(3) OJ L 96, 18.4.2000, p. 34.
(4) OJ L 60, 1.3.2001, p. 24.

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

31.3.2001

EN

Official Journal of the European Communities

L 91/59

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

Done at Brussels, 30 March 2001.

For the Commission

Franz FISCHLER

Member of the Commission