21.12.96 IENI OfficialJournaloftheEuropeanCommunities NoL333/57
COMMISSION REGULATION (EC)No2464/96
of20December 1996
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)No2356/96(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
applying theagricultural conversion rates(4),aslast
amended byRegulation (EC)No1482/96Q;whereas
paragraph 2ofthatArticleprovidesthat,incaseswhere
theabsolutevalueofthedifference betweenthemonetary
gapsintwoMemberStates,calculated fromtheaverageof
theecuratesforthreeconsecutive quotation days,exceeds
sixpoints,therepresentative marketratesaretobe
adjustedonthebasisofthethreequotation daysinques­
tion;
Whereas ,asaconsequence oftheexchangeratesrecorded
from11to20December 1996,itisnecessarytofixanew
agricultural conversion ratefortheBelgianfranc,theGermanmark,theDutchguilderandtheAustrianschil­
ling;
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)No2356/96isherebyrepealed .
Article 4
ThisRegulation shallenterintoforceon21December
1996.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels ,20December 1996.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL22,31.1.1995,p.1.
(■')OJNoL320,11.12.1996,p.22.
(4)OJNoL108,1.5.1993,p.106.
5OJNoL188,27.7.1996,p.22.

NoL333/58MENI OfficialJournaloftheEuropeanCommunities 21.12.96
ANNEXI
Agricultural conversion rates
ECU1=39,9696 Belgianand
Luxembourg francs
7,49997 Danishkroner
1,93917 German marks
311,761 Greekdrachmas
198,202 Portuguese escudos
6,61023 Frenchfrancs
6,02811 Finnishmarks
2,17598 Dutchguilders
0,812908 Irishpunt
1973,93 Italianlire
13,6463 Austrianschillings
165,198 Spanishpesetas
8,64446 Swedish kroner
0,809915 Poundsterling
ANNEX II
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=38,4323 Belgianand ECU1=41,6350 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,86459 German marks 2,01997 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
2,09229 Dutchguilders 2,26665 Dutchguilders
0,781642 Irishpunt 0,846779 Irishpunt
1898,01 Italianlire 2056,18 Italianlire
13,1214 Austrianschillings 14,2149 Austrianschillings
158,844 Spanishpesetas 172,081 Spanishpesetas
8,31198 Swedish kroner 9,00465 Swedish kroner
0,778764 Poundsterling 0,843661 Poundsterling