5.6.97 |ENI OfficialJournaloftheEuropeanCommunities NoL145/25
COMMISSION REGULATION (EC)No1012/97
of4June1997
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)No930/97(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)No1482/96O;whereas
paragraph 2ofthatArticleprovidesthat,incaseswhere
theabsolutevalueofthedifference betweenthemonetary
gapsintwoMemberStates,calculated fromtheaverageof
theecuratesforthreeconsecutive quotation days,exceeds
sixpoints,therepresentative marketratesaretobe
adjustedonthebasisofthethreequotation daysin
question ;
Whereas ,asaconsequence oftheexchangeratesrecorded
from26Mayto4June1997,itisnecessary tofixanew
agricultural conversion rateforthePoundsterling,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.
Article 2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EC)No930/97isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon5June1997.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,4June1997.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(■)OJNoL387,31.12.1992,p.1.0OJNoL22,31.1.1995,p.1.0OJNoL133,24.5.1997,p.17.
(<)OJNoL108,1.5.1993,p.106.
5OJNoL188,27.7.1996,p.22.

NoL145/26[ENI OfficialJournaloftheEuropeanCommunities 5.6.97
ANNEXI
Agricultural conversion rates
ECU1=40,4285 Belgianand
Luxembourg francs
7,49997 Danishkroner
1,95929 German marks
312,011 Greekdrachmas
198,202 Portuguese escudos
6,61023 Frenchfrancs
6,02811 Finnishmarks
2,20397 Dutchguilders
0,759189 Irishpunt
1973,93 Italianlire
13,7910 Austrianschillings
165,571 Spanishpesetas
8,88562 Swedishkroner
0,720829 Poundsterling
ANNEX II
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=38,8736 Belgianand ECU1=42,1130 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,88393 German marks 2,04093 German marks
300,011 Greekdrachmas 325,011 Greekdrachmas
190,579 Portuguese escudos 206,460 Portuguese escudos
6,35599 Frenchfrancs 6,88566 Frenchfrancs
5,79626 Finnishmarks 6,27928 Finnishmarks
2,11920 Dutchguilders 2,29580 Dutchguilders
0,729989 Irishpunt 0,790822 Irishpunt
1898,01 Italianlire 2056,18 Italianlire
13,2606 Austrianschillings 14,3656 Austrianschillings
159,203 Spanishpesetas 172,470 Spanishpesetas
8,54387 Swedish kroner 9,25585 Swedishkroner
0,693105 Poundsterling 0,750864 Poundsterling