1.5.93 OfficialJournaloftheEuropeanCommunities NoL108/127
COMMISSION REGULATION (EEC)No1077/93
of30April1993
fixingtheagricultural conversion rates
operativeeventapplicable forthecurrencyconcerned
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)No981/93(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)No1068/93of
30April1993,ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(3);
Whereas,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod21to30April1993,itis
necessarytofixanewagricultural conversion rateforthe
Italianlira;
WhereasArticle15(2)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceshallbeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeoftheHASADOPTED THISREGULATION :
Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.
Article2
InthecasereferredtoinArticle15(2)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
or
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EEC)No981/93isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon1May1993.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,30April1993.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL101,27.4.1993,p.10.
(3)Seepage106ofthisOfficialJournal.

NoL108/128 OfficialJournaloftheEuropeanCommunities 1.5.93
ANNEXI
Agricultural conversion rates
ECU148,5563
8,97989
2,35418
314,412
169,628
7,89563
0,957268
2230,20
2,65256
214,525
0,964017Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Spanishpesetas
Frenchfrancs
Irishpunt
Italianlire
Dutchguilders
Portuguese escudos
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
163,104 Spanishpesetas 176,696 Spanishpesetas
7,59195 Frenchfrancs 8,22461 Frenchfrancs
0,920450 Irishpunt 0,997154 Irishpunt
2144,42 Italianlire 2323,13 Italianlire
2,55054 Dutchguilders 2,76308 Dutchguilders
206,274 Portuguese escudos 223,464 Portuguese escudos
0,926939 Poundsterling 1,00418 Poundsterling