{
  "url": "https://openlegislation.uk/eu-regulation-2014-851/introduction",
  "json_url": "https://openlegislation.uk/eu-regulation-2014-851/introduction.json",
  "legislation": "eur/2014/851",
  "legislation_title": "Council Regulation (EU) No 851/2014 of 23 July 2014 amending Regulation (EC) No 2866/98 as regards the conversion rate to the euro for Lithuania",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2014-851",
  "path": "introduction",
  "kind": "introduction",
  "number": null,
  "heading": "Introductory text",
  "text": "Council Regulation (EU) No 851/2014\nof 23 July 2014\namending Regulation (EC) No 2866/98 as regards the conversion rate to the euro for Lithuania\nTHE COUNCIL OF THE EUROPEAN UNION,\nHaving regard to the Treaty on the Functioning of the European Union, and in particular Article 140(3) thereof,\nHaving regard to the proposal from the European Commission,\nHaving regard to the opinion of the European Central Bank,\nWhereas:\n(1)\nCouncil Regulation (EC) No 2866/98 of 31 December 1998 on the conversion rates between the euro and the currencies of the Member States adopting the euro determines those conversion rates as from 1 January 1999.\n(2)\nAccording to Article 4 of the 2003 Act of Accession, Lithuania is a Member State with a derogation as defined in Article 139(1) of the Treaty on the Functioning of the European Union.\n(3)\nPursuant to Council Decision 2014/509/EU of 23 July 2014 on the adoption by Lithuania of the euro on 1 January 2015, Lithuania fulfils the necessary conditions for the adoption of the euro and the derogation of Lithuania is abrogated with effect from 1 January 2015.\n(4)\nThe introduction of the euro in Lithuania requires the adoption of the conversion rate between the euro and the Lithuanian litas. This conversion rate should be set at 3,45280 litas per 1 euro, which corresponds to the current central rate of the litas in the exchange rate mechanism (ERM II).\n(5)\nRegulation (EC) No 2866/98 should therefore be amended accordingly,\nHAS ADOPTED THIS REGULATION:",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "OJ L 359, 31.12.1998, p. 1."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "OJ L 228, 31.7.2014, p. 29."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2014/851/introduction",
    "retrieved_at": "2026-11-01T14:47:23.751564+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}