Commission Regulation (EC) No 1891/98 of 3 September 1998 setting the agricultural conversion rates applicable to certain aids in the United Kingdom and Sweden and the resulting maximum amounts of compensatory aid

• CELEX: Regulation (EC) No 1891/98
• Articles: 3

Article 1

1. The agricultural conversion rate of 1 ECU = 0,803724 pounds sterling, applicable on 30 June 1998 to the aids referred to in Article 7 of Regulation (EEC) No 3813/92 for which the operative event occurs on 1 July 1998, shall be replaced from these latest dates in respect of the aids concerned by 1 ECU = 0,755249 pounds sterling.

2. The agricultural conversion rate of 1 ECU = SEK 9,90747, applicable on 30 June 1998 to the aids referred to in Article 7 of Regulation (EEC) No 3813/92 for which the operative event occurs on 1 July 1998, shall be replaced from these latest dates in respect of the aids concerned by 1 ECU = SEK 9,80430.

Article 2

1. 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(1) shall be ECU 110,98 million for the United Kingdom.

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(2) shall be ECU 4,43 million for Sweden.

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, 3 September 1998.

For the Commission

Franz FISCHLER

Member of the Commission

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

(2) OJ L 132, 6. 5. 1998, p. 1.

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

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

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

(6) OJ L 190, 4. 7. 1998, p. 16.