NoL8/10 EN OfficialJournaloftheEuropeanCommunities 11.1.97
COMMISSION REGULATION (EC)No39/97
of10January1997
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)No2525/96(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)No1482/96(*);whereas
paragraph 2ofthatArticleprovidesthat,incaseswhere
theabsolutevalueofthedifference betweenthemonetary
gapsintwoMemberStates,calculatedfromtheaverageof
theecuratesforthreeconsecutive quotation days,exceeds
sixpoints,therepresentative marketratesaretobe
adjustedonthebasisofthethreequotationdaysinques­
tion;
Whereas,asaconsequence oftheexchangeratesrecorded
from1to10January1997,itisnecessarytofixanew
agricultural conversion ratefortheBelgianfranc,theGermanmark,theDutchguilder,theAustrianschilling
andtheIrishpound;
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)No2525/96isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon11January
1997.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,10January1997.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL22,31.1.1995,p.1.
(3)OJNoL345,31.12.1996,p.76.0OJNoL108,1.5.1993,p.106.0OJNoL188,27.7.1996,p.22.

11.1.97 [EN OfficialJournaloftheEuropeanCommunities NoL8/11
ANNEXI
Agricultural conversion rates
ECU1=40,1295
7,49997
1,94738
311,761
198,202
6,61023
6,02811
2,18573
0,778173
1973,93
13,7020
165,198
8,64446
0,809915Belgianand
Luxembourg francs
Danishkroner
Germanmarks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=38,5861 Belgianand ECU1=41,8016 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,87248 German marks 2,02852 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
2,10166 Dutchguilders 2,27680 Dutchguilders
0,748243 Irishpunt 0,810597 Irishpunt
1898,01 Italianlire 2056,18 Italianlire
13,1750 Austrianschillings 14,2729 Austrianschillings
158,844 Spanishpesetas 172,081 Spanishpesetas
8,31198 Swedish kroner 9,00465 Swedishkroner
0,778764 Poundsterling 0,843661 Poundsterling