Title XII: Special schemes

Chapter 8: Exchange values [1]

Article 369zc [2]

1. The exchange value in national currency of the euro to be taken into consideration for the amount mentioned in Articles 369l and 369y be fixed once a year. The rates to be applied shall be those obtaining on the first working day in October and shall take effect on 1 January the following year.

2. Member States may round off the amount in national currency arrived at by converting the amounts in euro.

3. Member States may continue to apply the amount in force at the time of the annual adjustment provided for in paragraph 1, if conversion of the amount expressed in euro leads, before the rounding-off provided for in paragraph 2 to an alteration of less than 5 % in the amount expressed in national currency or to a reduction in that amount.