21992A1209(01)

AGREEMENT

in the form of an exchange of letters on the provisional application of the Protocol defining, for the period from 2 October 1992 to 1 October 1994 the fishing rights and financial compensation provided for in the Agreement between the Government of the Republic of Senegal and the European Community on Fishing off the coast of Senegal

A. Letter from the Republic of Senegal

Sir,

With reference to the Protocol initialled on 1 October 1992 defining the fishing rights and financial compensation for the period 2 October 1992 to 1 October 1994 I have the honour to inform you that the Government of the Republic of Senegal is prepared to apply the Protocol on a provisional basis with effect from 2 October 1992, pending its entry into force in accordance with Article 8 thereof, provided that the European Community is disposed to do the same.

This is on the understanding that payment of a first instalment equivalent to 50 % of the financial compensation set in Article 2 of the Protocol and to 50 % of the amount intended for the fisheries research programme provided for in Article 4 of the Protocol is made before 31 December 1992.

I should be obliged if you would confirm the European Community's agreement to such provisional application of the Protocol.

Please accept, Sir, the assurance of my highest consideration.

For the Government of the Republic of Senegal

B. Letter from the Community

Sir,

I am in receipt of your letter of today's date, which reads as follows:

'With reference to the Protocol initialled on 1 October 1992 defining the fishing rights and financial compensation for the period 2 October 1992 to 1 October 1994 I have the honour to inform you that the Government of the Republic of Senegal is prepared to apply the Protocol on a provisional basis with effect from 2 October 1992, pending its entry into force in accordance with Article 8 thereof, provided that the European Community is disposed to do the same.

This is on the understanding that payment of a first instalment equivalent to 50 % of the financial compensation set in Article 2 of the Protocol and to 50 % of the amount intended for the fisheries research programme provided for in Article 4 of the Protocol is made before 31 December 1992.

I should be obliged if you would confirm the European Community's agreement to such provisional application of the Protocol.`

I have the honour to confirm the European Community's agreement to such provisional application of the Protocol.

Please accept, Sir, the assurance of my highest consideration.

On behalf of

the Council of the European Communities