NoL191/52 OfficialJournaloftheEuropean Communities 31.7.93
COMMISSION REGULATION (EEC)No2121/93
of30July1993
fixingtheagricultural conversion rates
theagricultural conversion rateinforceatthetimeofthe
operative eventapplicable 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
common agricultural policy('),andinparticular
Article3(1),
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EEC)No2102/93(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
duringthereferenceperiod26to30July1993forthe
poundsterlingand30July1993fortheSpanishpeseta
andthePortuguese escudo,itisnecessary tofixanew
agricultural conversion ratefortheSpanishpeseta,Portu­
gueseescudoandthepoundsterling ;
WhereasArticle15(3)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceshallbeadjustedifthegapbetweenthatrateandHASADOPTED THISREGULATION :
Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.
Article2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
or
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EEC)No2102/93isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon1August1993.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels ,30July1993.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
(*)OJNoL387,31.12.1992,p.1.
(2)OJNoL190,30.7.1993,p.50.
(3)OJNoL108,1.5.1993,p.106.

31.7.93 OfficialJournaloftheEuropeanCommunitiesNoL191/53
ANNEXI
Agricultural conversion rates
ECU1=48,5563 Belgianand
Luxembourg francs
8,97989 Danishkroner
2,35418Germanmarks
319,060 Greekdrachmas
190,382 Spanishpesetas
7,89563 Frenchfrancs
0,976426 Irishpunt
2166,58 Italianlire
2,65256 Dutchguilders
236,933 Portuguese escudos
0,920969 Poundsterling
ANNEX II
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=46,6888 Belgianand ECU1-50,5795 Belgianand
Luxembourg francs Luxembourg francs
8,63451 Danishkroner 9,35405 Danishkroner
2,26363Germanmarks 2,45227 Germanmarks
306,788 Greekdrachmas 332,354 Greekdrachmas
183,060 Spanishpesetas 198,315 Spanishpesetas
7,59195 Frenchfrancs 8,22461 Frenchfrancs
0,938871 Irishpunt 1,01711 Irishpunt
2083,25 Italianlire 2256,85 Italianlire
2,55054 Dutchguilders 2,76308 Dutchguilders
227,820 Portuguese escudos 246,805 Portuguese escudos
0,885547 Poundsterling 0,959343 Poundsterling