1.6.94 OfficialJournaloftheEuropeanCommunities NoL137/55
COMMISSION REGULATION (EC)No1260/94
of31May1994
fixingtheagricultural conversion rates
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable forthecurrencyconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,HavingregardtotheTreatyestablishing theEuropean
Community ,
HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),aslastamendedbyRegu­
lation(EC)No3528/93(2),andinparticularArticle3(1)
thereof,HASADOPTED THISREGULATION :
Article 1Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EC)No1160/94(3);
Theagricultural conversion ratesarefixedinAnnexI
hereto.
WhereasArticle4ofRegulation (EEC)No3813/92
providesthattheagricultural conversion rateforafloating
currency istobeadjustedwherethemonetary gap
betweenitandtherepresentative marketrateexceeds
certainlevels;whereas,notwithstanding thatArticle4,
Article4aofthatRegulation appliesuntil31December
1994:Article2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance,
or
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .Whereastherepresentative marketratesaredetermined
onthebasisofreferenceperiodsestablished inaccord­
ancewithCommission Regulation (EEC)No1068/93of
30April1993ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(4),amendedby
Regulation (EC)No547/94(*);
Whereas ,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod21to31May1994,itis
necessarytofixanewagricultural conversion rateforthe
Portuguese escudo; Article3
Regulation (EC)No1160/94isherebyrepealed .WhereasArticle15(3)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceshallbeadjustedifthegapbetweenthatrateand
Article4 (>)OJNoL387,31.12.1992,p.1.
(2)OJNoL320,22.12.1993,p.32.
(3)OJNoL129,21.5.1994,p.17.
(4)OJNoL108,1.5.1993,p.106.
OOJNoL69,12.3.1994,p.1. ThisRegulation shallenterintoforceon1Tune1994.

NoL137/56 OfficialJournaloftheEuropeanCommunities 1.6.94
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,31May1994.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
ANNEXI
Agricultural conversion rates
ECU1=49,3070
9,34812
2,35418
342,048
192,319
7,98191
0,976426
2274,93
2,65256
239,331
0,920969Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Spanishpesetas
Frenchfrancs
Irishpunt
Italianlire
Dutchguilders
Portuguese escudos
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=47,4106 Belgianand ECU1=51,3615 Belgianand
Luxembourg francs Luxembourg francs
8,98858 Danishkroner 9,73763 Danishkroner
2,26363 Germanmarks 2,45227 Germanmarks
328,892 Greekdrachmas 356,300 Greekdrachmas
184,922 Spanishpesetas 200,332 Spanishpesetas
7,67491 Frenchfrancs 8,31449 Frenchfrancs
0,938871 Irishpunt 1,01711 Irishpunt
2187,43 Italianlire 2369,72 Italianlire
2,55054 Dutchguilders 2,76308 Dutchguilders
230,126 Portuguese escudos 249,303 Portuguese escudos
0,885547 Poundsterling 0,959343 Poundsterling