7.2.97 [EN OfficialJournaloftheEuropeanCommunities NoL37/7
COMMISSION REGULATION (EC)No229/97
of6February 1997
fixingtheagricultural conversion rates
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Community ,
HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),aslastamendedbyRegu­
lation(EC)No150/95(2),andinparticularArticle3(1)
thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EC)No116/97(3),asamended
byRegulation (EC)No124/97(4);
WhereasArticle4ofRegulation (EEC)No3813/92
providesthat,subjecttoconfirmation periodsbeingtrig­
gered,theagricultural conversion rateforacurrencyisto
beadjustedwherethemonetary gapbetweenitandthe
representative marketrateexceedscertainlevels;
Whereastherepresentative marketratesaredetermined
onthebasisofbasicreferenceperiodsor,whereapplic­
able,confirmation periods,established inaccordance with
Article2ofCommission Regulation (EEC)No1068/93of
30April1993ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(*),aslast
amended byRegulation (EC)No1482/96(6);whereas
paragraph 2ofthatArticleprovidesthat,incaseswhere
theabsolutevalueofthedifference betweenthemonetary
gapsintwoMemberStates,calculated fromtheaverageof
theecuratesforthreeconsecutive quotation days,exceeds
sixpoints,therepresentative marketratesaretobe
adjustedonthebasisofthethreequotation daysinques­
tion;
Whereas ,asaconsequence oftheexchangeratesrecorded
from4to6February1997,itisnecessary tofixanew
agricultural conversion ratefortheSwedishkrona;WhereasArticle15(2)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceistobeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operative eventapplicable fortheamountconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,
HASADOPTED THISREGULATION :
Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.
Article2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EC)No116/97isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon7February1997.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,6February 1997.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
2)OJNoL22,31.1.1995,p.1.
(3)OJNoL20,23.1.1997,p.32.(jOJNoL22,24.1.1997,p.21.
(5)OJNoL108,1.5.1993,p.106.
(6)OJNoL188,27.7.1996,p.22.

NoL37/8fENl OfficialJournaloftheEuropeanCommunities 7.2.97
ANNEXI
Agricultural conversion rates
ECU1=40,2861
7,49997
1,95423
311,761
198,202
6,61023
6,02811
2,19514
0,778173
1973,93
13,7482
165,198
8,69363
0,768177Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEX II
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=38,7366 Belgianand ECU1=41,9647 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,87907 German marks 2,03566 German marks
299,770 Greekdrachmas 324,751 Greekdrachmas
190,579 Portuguese escudos 206,460 Portuguese escudos
6,35599 Frenchfrancs 6,88566 Frenchfrancs
5,79626 Finnishmarks 6,27928 Finnishmarks
2,11071 Dutchguilders 2,28660 Dutchguilders
0,748243 Irishpunt 0,810597 Irishpunt
1898,01 Italianlire 2056,18 Italianlire
13,2194 Austrianschillings 14,3210 Austrianschillings
158,844 Spanishpesetas 172,081 Spanishpesetas
8,35926 Swedish kroner 9,05586 Swedish kroner
0,738632 Poundsterling 0,800184 Poundsterling