6.7.96 EN OfficialJournaloftheEuropeanCommunities NoL167/11
COMMISSION REGULATION (EC)No1304/96
of5July1996
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)No1164/96(3);
WhereasArticle4ofRegulation (EEC)No3813/92
providesthat,subjecttoconfirmation periodsbeingtrig­
gered,theagricultural conversion rateforacurrencyisto
beadjustedwherethemonetarygapbetweenitandthe
representative marketrateexceedscertainlevels;
Whereastherepresentative marketratesaredetermined
onthebasisofbasicreferenceperiodsor,whereappli­
cable,confirmation periods,established inaccordance
withArticle2ofCommission Regulation (EEC)No
1068/93of30April1993ondetailedrulesfordeter­
miningandapplyingtheagricultural conversion rates(4),
aslastamendedbyRegulation (EC)No2853/95j5);
whereasparagraph 2ofthatArticleprovidesthat,incases
wheretheabsolutevalueofthedifference betweenthe
monetarygapsintwoMemberStates,calculated fromthe
averageoftheecuratesforthreeconsecutive quotation
days,exceedssixpoints,therepresentative marketrates
aretobeadjustedonthebasisofthethreequotationdays
inquestion ;
Whereas,asaconsequence oftheexchangeratesrecorded
from27Juneto6July1996,itisnecessarytofixanew
agricultural conversion ratefortheSwedishKrona,theAustrianschilling ,theDutchguilderandtheGerman
mark;
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)No1164/96isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon7July1996.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,5July1996.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL22,31.1.1995,p.1.
P)OJNoL153,27.6.1996,p.41.(jOJNoL108,1.5.1993,p.106.
0OJNoL299,12.12.1995,p.1.

NoL167/12 1ENI OfficialJournaloftheEuropeanCommunities 6.7.96
ANNEXI
Agricultural conversion rates
ECU1=39,5239
7,49997
1,91639
311,761
198,202
6,61023
6,02811
2,14934
0,829498
2030,40
13,4875
165,198
8,64446
0,833821Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
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
1,84268 German marks 1,99624 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
2,06667 Dutchguilders 2,23890 Dutchguilders
0,797594 Irishpunt 0,864060 Irishpunt
1952,31 Italianlire 2115,00 Italianlire
12,9688 Austrianschillings 14,0495 Austrianschillings
158,844 Spanishpesetas 172,081 Spanishpesetas
8,31198 Swedish kroner 9,00465 Swedishkroner
0,801751 Poundsterling 0,868564 Poundsterling