Commission Regulation (EC) No 2395/97 of 2 December 1997 setting the maximum amounts of aid to compensate for appreciable revaluations of the pound sterling of 5 June and 21 August 1997

COMMISSION REGULATION (EC) No 2395/97 of 2 December 1997 setting the maximum amounts of aid to compensate for appreciable revaluations of the pound sterling of 5 June and 21 August 1997
THE COMMISSION OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation (EC) No 724/97 of 22 April 1997 determining measures and compensation relating to appreciable revaluations that affect farm incomes (1), and in particular Article 7 thereof,
Whereas Regulation (EC) No 724/97 lays down that the Member States may grant aid to farmers to compensate for appreciable revaluations; whereas the compensatory aid is to be granted pursuant to the terms laid down in that Regulation and in Commission Regulation (EC) No 805/97 of 2 May 1997 laying down detailed rules for compensation relating to appreciable revaluations (2);
Whereas the compensatory aid is established in accordance with Articles 4, 5 and 6 of Regulation (EC) No 724/97 and includes a principal amount and, where appropriate, supplementary amounts pursuant to the second subparagraph of Article 4 (2) of that Regulation;
Whereas, to facilitate preparation of the grant of aid in particular, the ceiling for the principal amount of the first instalment of compensatory aid should be based on the latest data available for the revaluations that occurred on 5 June and 21 August 1997 as regards the pound sterling; whereas these maximum amounts are established without prejudice to a reduction or cancellation in the case of an agricultural conversion rate increase during the observation period referred to in Article 4 (3) of Regulation (EC) No 724/97 and without prejudice to the possibility of granting supplementary amounts pursuant to the second subparagraph of Article 3 (2) of that Regulation;
Whereas, to apply Regulation (EC) No 805/97, the period referred to in Article 3 (1) of that Regulation must be specified so that aid is linked to previous production;
Whereas the measures provided for in this Regulation are in accordance with the opinion of the relevant management committees,