21.11.95 EN OfficialJournaloftheEuropeanCommunities NoL277/5
COMMISSION REGULATION (EC)No2681/95
of20November 1995
fixingtheagricultural conversion rates
advanceistobeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operative eventapplicable fortheamountconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Community ,
HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),aslastamendedbyRegu­
lation(EC)No150/95(2),andinparticular Article3(1)
thereof ,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EC)No2676/95(3);
WhereasArticle4ofRegulation (EEC)No3813/92
providesthat,subjecttoconfirmation periodsbeingtrig­
gered,theagricultural conversion rateforacurrencyisto
beadjustedwherethemonetarygapbetweenitandthe
representative marketrateexceedscertainlevels;
Whereastherepresentative marketratesaredetermined
onthebasisofbasicreferenceperiodsor,whereappli­
cable,confirmation periods,established inaccordance
withArticle2ofCommission Regulation (EEC)No
1068/93of30April1993ondetailedrulesfordeter­
miningandapplyingtheagricultural conversion rates(4),
aslastamendedbyRegulation (EC)No1053/95(^);
whereasparagraph 2ofthatArticleprovidesthat,incases
wheretheabsolute valueofthedifference between the
monetarygapsintwoMemberStates,calculated fromthe
averageoftheecuratesforthreeconsecutive quotation
days,exceedssixpoints,therepresentative marketrates
aretobeadjustedonthebasisofthethreequotationdays
inquestion ;
Whereas ,asaconsequence oftheexchangeratesrecorded
on20November 1995,itisnecessarytofixanewagricul­
turalconversion rateforthepoundSterlingandtheGreek
drachma ;
WhereasArticle15(2)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedinHASADOPTED THISREGULATION :
Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.
Article 2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EC)No2676/95isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon21November
1995.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels ,20November 1995.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL22,31.1.1995,p.1.
(3)OJNoL275,18.11.1995,p.19.
(*)OJNoL108,1.5.1993,p.106.
OOJNoL107,12.5.1995,p.4.

NoL277/6EN1 OfficialJournaloftheEuropean Communities 21.11.95
ANNEX I
Agricultural conversion rates
ECU1=39,5239 Belgianand
Luxembourg francs
7,49997 Danishkroner
1,90616 German marks
310,096 Greekdrachmas
198,202 Portuguese escudos
6,61023 Frenchfrancs
5,88000 Finnishmarks
2,14021 Dutchguilders
0,829498 Irishpunt
2164,34 Italianlire
13,4084 Austrianschillings
165,198 Spanishpesetas
9,24240 Swedishkroner
0,856563 Poundsterling
ANNEX II
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=38,0038 Belgianand ECU1=41,1707 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,83285 German marks 1,98558 German marks
298,169 Greekdrachmas 323,017 Greekdrachmas
190,579 Portuguese escudos 206,460 Portuguese escudos
6,35599 Frenchfrancs 6,88566 Frenchfrancs
5,65385 Finnishmarks 6,12500 Finnishmarks
2,05789 Dutchguilders 2,22939 Dutchguilders
0,797594 Irishpunt 0,864060 Irishpunt
2081,10 Italianlire 2254,52 Italianlire
12,8927 Austrianschillings 13,9671 Austrianschillings
158,844 Spanishpesetas 172,081 Spanishpesetas
8,88692 Swedish kroner 9,62750 Swedish kroner
0,823618 Poundsterling 0,892253 Poundsterling