NoL222/40 OfficialJournaloftheEuropeanCommunities 1.9.93
COMMISSION REGULATION (EEC)No2422/93
of31August1993
fixingtheagricultural conversion rates
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Economic Community ,
HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
common agricultural policy('),andinparticular
Article3(1),
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EEC)No2332/93(2);
WhereasArticle4(1)ofRegulation (EEC)No3813/92
providesthattheagricultural conversion rateforafloating
currencyshallbeadjustedwherethemonetarygapwith
therepresentative marketrateforthelastreferenceperiod
ofamonthexceedstwopoints;whereas,inthatcase,the
newagricultural conversion rateisfixedsoastoreduce
thatmonetarygapbyhalf;
Whereastherepresentative marketratesaredetermined
onthebasisofreferenceperiodsdetermined inaccord­
ancewithCommission Regulation (EEC)No1068/93of
30April1993,ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(3);
Whereas ,inviewofthedecisionbytheMinisters of
Financeon2August1993,alltheMemberStates'curren­
ciesaretoberegardedasfloatingcurrencies inaccor­
dancewithArticle 1(b)ofRegulation (EEC)No3813/93;
Whereas ,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod21to31August1993,itis
necessarytofixanewagricultural conversion rateforthe
Greekdrachma ;
WhereasArticle15(3)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedinadvanceshallbeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable forthecurrencyconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,
HASADOPTED THISREGULATION :
Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.
Article2
InthecasfereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
or
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EEC)No2332/93isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon1September
1993.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,31August1993.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.0OJNoL210,21.8.1993,p.13.
J)OJNoL108,1.5.1993,p.106.

1.9.93 OfficialJournaloftheEuropean Communities NoL222/41
ANNEXI
Agricultural conversion rates
ECU1=48,5563 Belgianand
Luxembourg francs
9,34812Danishkroner
2,35418Germanmarks
322,728 Greekdrachmas
190,382 Spanishpesetas
7,98191 Frenchfrancs
0,976426 Irishpunt
2166,58 Italianlire
2,65256 Dutchguilders
236,933 Portuguese escudos
0,920969 Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=46,6888 Belgianand ECU1=50,5795 Belgianand
Luxembourg francs Luxembourg francs
8,98858 Danishkroner 9,73763 Danishkroner
2,26363 Germanmarks 2,45227 Germanmarks
310,315 Greekdrachmas 336,175 Greekdrachmas
183,060 Spanishpesetas 198,315 Spanishpesetas
7,67491 Frenchfrancs 8,31449 Frenchfrancs
0,938871 Irishpunt 1,01711 Irishpunt
2083,25 Italianlire 2256,85 Italianlire
2,55054 Dutchguilders 2,76308 Dutchguilders
227,820 Portuguese escudos 246,805 Portuguese escudos
0,885547 Poundsterling 0,959343 Poundsterling