16.5.97 EN OfficialJournaloftheEuropeanCommunities NoL124/29
COMMISSION REGULATION (EC)No872/97
of15May1997
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)No817/97(3);
WhereasArticle4ofRegulation (EEC)No3813/92
providesthat,subjecttoconfirmation periodsbeingtrig­
gered,theagricultural conversion rateforacurrencyisto
beadjustedwherethemonetarygapbetweenitandthe
representative marketrateexceedscertainlevels;
Whereastherepresentative marketratesaredetermined
onthebasisofbasicreferenceperiodsor,whereapplic­
able,confirmation periods,established inaccordance with
Article2ofCommission Regulation (EEC)No1068/93of
30April1993ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(4),aslast
amended byRegulation (EC)No1482/96whereas
paragraph 2ofthatArticleprovidesthat,incaseswhere
theabsolutevalueofthedifference betweenthemonetary
gapsintwoMemberStates,calculatedfromtheaverageof
theecuratesforthreeconsecutive quotation days,exceeds
sixpoints,therepresentative marketratesaretobe
adjustedonthebasisofthethreequotation daysin
question ;
Whereas ,asaconsequence oftheexchangeratesrecorded
from6to15May1997,itisnecessarytofixanewagri­
culturalconversion ratefortheIrishpoundandtheGreek
drachma ;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)No817/97isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon16May1997.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels .15Mav 1997.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL22,31.1.1995,p.1.0OJNoL116,6.5.1997,p.25.(jOJNoL108,1.5.1993,p.106.
j5)OJNoL188,27.7.1996,p.22.

NoL124/30EN OfficialJournaloftheEuropeanCommunities 16.5.97
ANNEXI
Agricultural conversion rates
ECU1=40,4285
7,49997
1,95929
311,858
198,202
6,61023
6,02811
2,20397
0,757666
1973,93
13,7910
165,571
8,88562
0,742320Belgianand
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=38,8736 Belgianand ECU1=42,1130 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,88393 German marks 2,04093 German marks
299,863 Greekdrachmas 324,852 Greekdrachmas
190,579 Portuguese escudos 206,460 Portuguese escudos
6,35599 Frenchfrancs 6,88566 Frenchfrancs
5,79626 Finnishmarks 6,27928 Finnishmarks
2,11920 Dutchguilders 2,29580 Dutchguilders
0,728525 Irishpunt 0,789235 Irishpunt
1898,01 Italianlire 2056,18 Italianlire
13,2606 Austrianschillings 14,3656 Austrianschillings
159,203 Spanishpesetas 172,470 Spanishpesetas
8,54387 Swedish kroner 9,25585 Swedishkroner
0,713769 Poundsterling 0,773250 Poundsterling