thereof,
Whereas Article 29 of Regulation (EEC) No 685/69 lays down that, in the event of an adjustment of the buying-in price expressed in national currency for butter, the private storage aid will be reduced or increased accordingly; whereas the Commission, if the market situation so justifies, may derogate from this rule in accordance with the procedure laid down in Article 30 of Council Regulation (EEC) No 804/68 of 27 June 1968 on the common organization of the market in milk and milk products (3), as last amended by Regulation (EEC) No 2071/92 (4); whereas the new agrimonetary rules introduced on 1 January 1993 entail frequent adjustments to the agricultural conversion rates, thereby creating ambiguities with regard to the calculation of compensation resulting from the adjustment of the buying in price on 1 July 1993;
Whereas, in the light of the market situation, taking into consideration the reduction in the intervention price for butter, account should not be taken of all the adjustments to the agricultural conversion rates and compensation should be calculated on the basis of 90 % of the intervention price;
Whereas the Management Committee for Milk and Milk Products has not delivered an opinion within the time limit set by its chairman,
HAS ADOPTED THIS DECISION:
