Commission Regulation (EC) No 487/98 of 27 February 1998 setting the agricultural conversion rates applicable to certain aids in the United Kingdom and the resulting maximum amounts of compensatory aid

• CELEX: Regulation (EC) No 487/98
• Articles: 3

Article 1

The agricultural conversion rate of ECU 1 = £ 0,809915, applicable on 31 December 1997 and on 3 January 1998 to the aids referred to in Article 7 of Regulation (EEC) No 3813/92 for which the operative event occurs respectively on 1 January 1998 and 4 January 1998, shall be replaced from these latest dates in respect of the aids concerned by ECU 1 = £ 0,775745.

Article 2

The maximum supplementary amount of the first tranche of compensatory aid that may be granted as a result of the reduction in the agricultural conversion rate referred to in Article 1 shall be ECU 46,82 million for the United Kingdom.

Article 3

This Regulation shall enter into force on the seventh day following its publication in the Official Journal of the European Communities.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 27 February 1998.

For the Commission

Franz FISCHLER

Member of the Commission

(1) OJ L 108, 25. 4. 1997, p. 9.

(2) OJ L 387, 31. 12. 1992, p. 1.

(3) OJ L 22, 31. 1. 1995, p. 1.

(4) OJ L 115, 3. 5. 1997, p. 13.