Commission Regulation (EC) No 2921/95 of 18 December 1995 laying down detailed rules for compensation for reductions in certain agricultural conversion rates

COMMISSION  REGULATION (EC) No 2921/95 of 18 December 1995 laying down detailed rules for compensation for  reductions in certain agricultural conversion rates
THE COMMISSION OF THE EUROPEAN  COMMUNITIES
,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation (EC) No 1527/95 of 29 June 1995 regulating compensation for  reductions in the agricultural conversion rates of certain national currencies  (1), and in  particular Article 2 (4) thereof,
Whereas Regulation (EC) No 1527/95 allows Member States to make payments to farmers to compensate  for reductions in agricultural conversion rates of certain national currencies; whereas that  Regulation also lays down certain conditions concerning the grant of aid, upper limits on such  payments by Member States, their development over time and provided for them to be financed either  in total or in part by the Community budget;
Whereas to take account of the Communities international commitments and for reasons of sound  management it is necessary to lay down certain, in particular, procedural arrangements to be  followed by Member States intending to apply compensation payments;
Whereas to fulfil the compensation objective it is necessary for Member States to grant aid within  set time limits, as a general rule directly to beneficiaries, in principle farmers, at rates which  do not exceed their imputed income loss and without conditions relating to its use; whereas,  however, to avoid the burdens of systems involving the grant of small amounts to beneficiaries,  simplified implementing provisions may be used when the average level of aid is below a given  threshold;
Whereas during the period when compensatory aid can be granted an increase may occur in the  agricultural conversion rate of the national currency of the Member State concerned; whereas in  such a case it would be necessary to examine whether any unpaid annual aid amounts should be  granted;
Whereas it is necessary to define the operating event which determines the agricultural conversion  rate to convert amounts fixed in ecu in Article 2 (2) of Regulation (EC) No 1527/95 into national  currencies;
Whereas the relevant management committees have not delivered opinions within the time limits set  by their chairmen,