Commission Regulation (EC) No 1359/2001
of 4 July 2001
fixing, for June 2001, the specific exchange rate for the amount of the reimbursement of storage costs in the sugar sector
THE COMMISSION OF THE EUROPEAN COMMUNITIES,
Having regard to the Treaty establishing the European Community,
Having regard to Council Regulation (EC) No 2799/98 of 15 December 1998 establishing agrimonetary arrangements for the euro(1),
Having regard to Commission Regulation (EEC) No 1713/93 of 30 June 1993 establishing special detailed rules for applying the agricultural conversion rate in the sugar sector(2), as last amended by Regulation (EC) No 1642/1999(3), and in particular Article 1(3) thereof,
Whereas:
(1) Article 1(2) of Regulation (EEC) No 1713/93 provides that the amount of the reimbursement of storage costs referred to in Article 8 of Council Regulation (EC) No 2038/1999 on the common organisation of the markets in the sugar sector(4) is to be converted into national currency using a specific agricultural conversion rate equal to the average, calculated pro rata temporis, of the agricultural conversion rates applicable during the month of storage. That specific rate must be fixed each month for the previous month. However, in the case of the reimbursable amounts applying from 1 January 1999, as a result of the introduction of the agrimonetary arrangements for the euro from that date, the fixing of the conversion rate should be limited to the specific exchange rates prevailing between the euro and the national currencies of the Member States that have not adopted the single currency.
(2) Application of these provisions will lead to the fixing, for June 2001, of the specific exchange rate for the amount of the reimbursement of storage costs in the various national currencies as indicated in the Annex to this Regulation,
HAS ADOPTED THIS REGULATION:
Article 1
The specific exchange rate to be used for converting the amount of the reimbursement of the storage costs referred to in Article 8 of Regulation (EC) No 2038/1999 into national currency for June 2001 shall be as indicated in the Annex hereto.
Article 2
This Regulation shall enter into force on 5 July 2001.
It shall apply with effect from 1 June 2001.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 4 July 2001.