Regulation (EEC) No 1974/80 is hereby amended as follows: 1. Article 8 (2) is replaced by the following:
"2. The monetary compensatory amount shall, where appropriate, be converted into the currency of the Member State in which the tendering procedure is opened by using: - where the currencies in question are maintained within a maximum spread at any one time of 2 725 %, the conversion rate resulting from their central rate,
- in other cases, the relationship between the two currencies concerned established by using the latest statement of their spot exchange rates made immediately prior to the closing date for the submission of tenders as published in the "C" series of the Official Journal of the European Communities."
2. Article 17 (4) is replaced by the following:
"4. The amount referred to in paragraph 2 shall be paid in the currency of the Member State which is responsible for payment. For this purpose, this amount shall be converted by using the method defined in Article 8 (2)."
(1) OJ No L 281, 1.11.1975, p. 1. (2) OJ No L 198, 20.7.1981, p. 2. (3) OJ No L 166, 25.6.1976, p. 1. (4) OJ No L 281, 1.11.1975, p. 89. (5) OJ No 106, 30.12.1962, p. 2553/62. (6) OJ No L 263, 19.9.1973, p. 1. (7) OJ No L 192, 26.7.1980, p. 11. (8) OJ No L 299, 20.10.1981, p. 6.