Commission Regulation (EC) No 840/2002 of 21 May 2002 adjusting certain compensatory agrimonetary aids granted in the United Kingdom and Sweden
Date: 2002-05-21
Institutions: European Commission
Subjects: Sweden, United Kingdom, agri-monetary policy, aid to agriculture, monetary compensatory amount, revaluation

22.5.2002

EN

Official Journal of the European Communities

L 134/9

COMMISSION REGULATION (EC) No 840/2002

of 21 May 2002

adjusting certain compensatory agrimonetary aids granted in the United Kingdom and Sweden

THE COMMISSION OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European
Community,

also necessary to cancel the amounts of the third tranche
of compensatory aid for Sweden linked to the operative
events of 1 January 2000 and 2 January 2000.

Having regard to Council Regulation (EC) No 2799/98 of 15
December 1998 establishing agrimonetary arrangements for
the euro (1), and in particular Articles 4 and 5 thereof,

(7)

Whereas:

(1)

(2)

(3)

(4)

(5)

(6)

For various Member States, the maximum amounts of
the compensatory aid resulting from the exchange rates
applicable on 1 and 2 January 2000 are laid down by
Commission Regulation (EC) No 801/2000 (2).

The maximum amounts of
the compensatory aid
resulting from the exchange rates for the pound sterling
applicable on 31 December 2000 and 1 January 2001
are laid down by Commission Regulation (EC) No 653/
2001 (3).

The maximum amounts of the compensatory aid for
appreciable revaluations of the pound sterling and the
Swedish krona in 2000 are laid down by Commission
Regulation (EC) No 654/2001 (4).

regards

As
compensatory aid resulting from the
exchange rates applicable for certain direct aid and struc-
tural or environmental measures, Article 5(3) of Regula-
tion (EC) No 2799/98 lays down that the amounts paid
out under the second and third tranches of aid are each
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 and Article 5(4) of that Regulation lays down
that the maximum amount of the compensatory aid is
to be reduced or cancelled as a function of the effect on
income of
the exchange rates
the second and third
recorded on the first day of
tranches.

the development of

Examination of the exchange rates for the pound sterling
and the Swedish krona fixed by Commission Regulation
(EC) No 426/2002 of 7 March 2002 fixing the conver-
sion rates applicable to certain direct aids and structural
or environmental measures (5) indicates a depreciation of
those currencies.

There should therefore be an additional reduction in the
maximum amounts of the second tranche of compens-
atory aid for the United Kingdom linked to the operative
events of 31 December 2000 and 1 January 2001. It is

(1) OJ L 349, 24.12.1998, p. 1.
(2) OJ L 96, 18.4.2000, p. 34.
(3) OJ L 91, 31.3.2001, p. 62.
(4) OJ L 91, 31.3.2001, p. 64.
(5) OJ L 66, 8.3.2002, p. 8.

(8)

(9)

As regards compensatory aid for appreciable revalu-
ations of national currencies, Article 4(5) of Regulation
(EC) No 2799/98 lays down that the amounts paid out
under the second and third tranches are each 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
and that the amounts paid out under the second and
third tranches are to be reduced or cancelled as a func-
tion of the effect on incomes of the development of
exchange rates recorded until
the
month preceding the first month of the relevant tranche,
and taking account of the market situation observed
over the same period.

the beginning of

Examination of the average exchange rates fixed for the
pound sterling and the Swedish krona between 1 March
2001 and 31 January 2002 indicates a depreciation of
those currencies during that period.

to take account of

In order
the market situation,
pursuant to Article 4(6)(a) of Regulation (EC) No 2799/
98 the amount of one or more tranches for one or more
sectors may be reduced if it is found that the average
market price for the Member State concerned is equal to
or higher than the average market prices in the Member
States whose currencies have not been appreciably
revalued during the same period. That condition was
met in the United Kingdom's cereals sector during the
period 1 March 2001 to 31 January 2002. However, the
United Kingdom did not grant the first tranche of that
sector's compensatory aid for an appreciable revaluation
of the pound sterling in 2000. As a result,
it is not
possible to grant the second or third tranches of that aid
in the cereals sector. The market situation in the United
Kingdom's cereals sector does not therefore affect the
maximum amount of the second tranche of compens-
atory aid for an appreciable revaluation of the pound
sterling in 2000.

(10) Nevertheless, in view of the development of exchange
rates, an additional reduction should be applied to the
maximum amount of the second tranche of compens-
atory aids for the United Kingdom for the appreciable
revaluation of the pound sterling in 2000 and payment
of the second tranche of compensatory aid for Sweden
for the appreciable revaluation of the Swedish krona in
2000 should be cancelled.

L 134/10

EN

Official Journal of the European Communities

22.5.2002

(11)

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

HAS ADOPTED THIS REGULATION:

falls on 31 December 2000 shall be multiplied by

event
0,4722.

The maximum amount of

2.
second tranche of
compensatory aid for the United Kingdom provided for by
Regulation (EC) No 653/2001 relating to aid whose operative
event falls on 1 January 2001 shall be multiplied by 0,3941.

the

Article 1

Article 3

The third tranche of compensatory aid for Sweden
1.
provided for by Regulation (EC) No 801/2000 relating to aid
whose operative event
falls on 1 January 2000 shall be
cancelled.

The third tranche of compensatory aid for Sweden
2.
provided for by Regulation (EC) No 801/2000 relating to aid
whose operative event
falls on 2 January 2000 shall be
cancelled.

The maximum amount of

second tranche of
1.
compensatory aid for the United Kingdom provided for by
Article 1 of Regulation (EC) No 654/2001 for the appreciable
revaluation of the pound sterling in 2000 shall be multiplied
by 0,7090.

the

The maximum amount of

2.
second tranche of
compensatory aid for Sweden provided for by Article 2 of
Regulation (EC) No 654/2001 for the appreciable revaluation
of the Swedish krona in 2000 shall be cancelled.

the

Article 2

Article 4

The maximum amount of

1.
second tranche of
compensatory aid for the United Kingdom provided for by
Regulation (EC) No 653/2001 relating to aid whose operative

the

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, 21 May 2002.

For the Commission

Franz FISCHLER

Member of the Commission