Commission Regulation (EC) No 801/2000 of 17 April 2000 fixing the maximum amount of compensatory aid resulting from the exchange rates for the Danish krone, the Swedish krona and the pound sterling applicable on 1 and 2 January 2000

Commission Regulation (EC) No 801/2000
of 17 April 2000
fixing the maximum amount of compensatory aid resulting from the exchange rates for the Danish krone, the Swedish krona and the pound sterling applicable on 1 and 2 January 2000
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,
Whereas:
(1) Article 5(1) of Regulation (EC) No 2799/98 states that compensatory payments may be made in cases where the exchange rate applicable on the date of the operative event is below that previously applicable. However, that provision is not applicable to amounts to which a rate lower than the new rate was applicable during the 24 months immediately before the new rate took effect.
(2) The exchange rates for the Danish krone, the Swedish krona and the pound sterling applicable on the operative event dates of 1 and 2 January 2000 were lower than those previously applicable.
(3) The compensatory aid is to be paid under the conditions laid down in Regulation (EC) No 2799/98 and in Commission 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(2), as last amended by Regulation (EC) No 1410/1999(3).
(4) The amounts of the compensatory aid are established in accordance with Articles 5 and 9 of Regulation (EC) No 2799/98 and with Article 10 of Regulation (EC) No 2808/98.
(5) The measures provided for in this Regulation are in accordance with the opinions of the Management Committees concerned,