Commission Regulation (EC) No 1913/2006 of 20 December 2006 laying down detailed rules for the application of the agrimonetary system for the euro in agriculture and amending certain regulations (repealed) (c. 1913)

CHAPTER II U.K. EXCHANGE RATE

Article 11 U.K. Determination of the exchange rate

When an operative event is fixed under Community legislation, the exchange rate to be used shall be the most recent rate set by the European Central Bank (ECB) prior to the first day of the month in which the operative event occurs.

However, in the following cases, the exchange rate to be used shall be:

(a)

for the cases referred to in Article 1(1) in which the operative event for the exchange rate is the acceptance of the customs declaration, the rate referred to in Article 18(1) of Council Regulation (EEC) No 2913/92(1);

(b)

for intervention expenditure incurred in the context of public storage operations, the rate resulting from the application of Article 4(2) of Regulation (EC) No 884/2006;

(c)

for the minimum beet price referred to in Article 6, in which the operative event for the exchange rate is 1 October, the average rate established by the European Central Bank (ECB) for the month prior to the operative event.

(1)

OJ L 302, 19.10.1992, p. 1.