1.4.93 OfficialJournaloftheEuropeanCommunities NoL79/69
COMMISSION REGULATION (EEC)No790/93
of31March1993
fixingtheagricultural conversion rates
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Economic Community ,
HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),andinparticularArticle3
(1)thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EEC)No760/93(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)No3819/92of
28December 1992ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(3);
Whereas,asaconsequence oftheexchangeratesrecorded
on31MarchfortheItalianliraandduringthereference
period21to31March1993,itisnecessarytofixanew
agricultural conversion ratefortheItalianlira,theGreek
drachmaandthePortuguese escudo;
WhereasArticle11(2)ofRegulation (EEC)No3819/92
providesthatanagricultural conversion ratefixedin
advanceshallbeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable forthecurrencyconcernedHASADOPTED THISREGULATION :
Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.
Article2
InthecasereferredtoinArticle11(2)ofRegulation
(EEC)No3819/92,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
or
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EEC)No760/93isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon1April1993.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,31March1993.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
(Y)OJNoL77,31.3.1993,p.53.
(3)OJNoL387,31.12.1992,p.17.

NoL79/70 OfficialJournaloftheEuropeanCommunities 1.4.93
ANNEXI
Agricultural conversion rates
ECU1=48,5563 Belgianand
Luxembourg francs
8,97989 Danishkroner
2,35418 Germanmarks
314,412 Greekdrachmas
166,075 Spanishpesetas
7,89563 Frenchfrancs
0,957268 Irishpunt
2287,88 Italianlire
2,65256 Dutchguilders
214,525 Portuguese escudos
0,980715 Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=46,6888 Belgianand ECU1=50,5795 Belgianand
Luxembourg francs Luxembourg francs
8,63451 Danishkroner 9,35405 Danishkroner
2,26363 Germanmarks 2,45227 Germanmarks
302,319 Greekdrachmas 327,513 Greekdrachmas
159,688 Spanishpesetas 172,995 Spanishpesetas
7,59195 Frenchfrancs 8,22461 Frenchfrancs
0,920450 Irishpunt 0,997154 Irishpunt
2199,88 Italianlire 2383,21 Italianlire
2,55054 Dutchguilders 2,76308 Dutchguilders
206,274 Portuguese escudos 223,464 Portuguese escudos
0,942995 Poundsterling 1,02157 Poundsterling