27.6.96 EN OfficialJournaloftheEuropean Communities NoL153/41
COMMISSION REGULATION (EC)No1164/96
of26June1996
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)No1086/96(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)No2853/95(*);whereas
paragraph 2ofthatArticleprovidesthat,incaseswhere
theabsolutevalueofthedifference betweenthemonetary
gapsintwoMemberStates,calculatedfromtheaverageof
theecuratesforthreeconsecutive quotation days,exceeds
sixpoints,therepresentative marketratesaretobe
adjustedonthebasisofthethreequotation daysinques­
tion;
Whereas,asaconsequence oftheexchangeratesrecorded
from17to26June1996,itisnecessarytofixanewagri­
culturalconversion ratefortheDutchguilder,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)No1086/96isherebyrepealed.
Article4
ThisRegulation shallenterintoforceon27June1996.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,26June1996.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL22,31.1.1995,p.1.
(3)OJNoL142,15.6.1996,p.36.
(4)OJNoL108,1.5.1993,p.106.0OJNoL299,12.12.1995,p.1.

NoL153/42EN OfficialJournaloftheEuropeanCommunities 27.6.96
ANNEXI
Agricultural conversion rates
ECU1=39,5239 Belgianand
Luxembourg francs
7,49997 Danishkroner
1,91449 German marks
311,761 Greekdrachmas
198,202 Portuguese escudos
6,61023 Frenchfrancs
6,02811 Finnishmarks
2,14427 Dutchguilders
0,829498 Irishpunt
2030,40 Italianlire
13,4713 Austrianschillings
165,198 Spanishpesetas
8,93762 Swedishkroner
0,833821 Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=38,0038 Belgianand ECU1=41,1707 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,84086 German marks 1,99426 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
2,06180 Dutchguilders 2,23361 Dutchguilders
0,797594 Irishpunt 0,864060 Irishpunt
1952,31 Italianlire 2115,00 Italianlire
12,9532 Austrianschillings 14,0326 Austrianschillings
158,844 Spanishpesetas 172,081 Spanishpesetas
8,59387 Swedish kroner 9,31002 Swedishkroner
0,801751 Poundsterling 0,868564 Poundsterling