17.8.94 NoL211/4 OfficialJournaloftheEuropean Communities
COMMISSION REGULATION (EC)No2057/94
of16August1994
fixingtheagricultural conversion rates
handtofixanewagricultural conversion rateforthe
Italianlirawitheffectfrom16August1994;
WhereasArticle15(3)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceshallbeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable forthecurrencyconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,
HASADOPTED THISREGULATION :
Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Community ,
HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),aslastamendedbyRegu­
lation(EC)No3528/93(2),andinparticularArticle3(1)
thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EC)No1972/94(3);
WhereasArticle4ofRegulation (EEC)No3813/92
providesthattheagricultural conversion rateforafloating
currency istobeadjustedwherethemonetary gap
betweenitandtherepresentative marketrateexceeds
certainlevels;whereas,notwithstanding thatArticle4,
Article4aofthatRegulation appliesuntil31December
1994;
Whereastherepresentative marketratesaredetermined
onthebasisofreferenceperiodsestablished inaccord­
ancewithCommission Regulation (EEC)No1068/93of
30April1993ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(4),asamended
byRegulation (EC)No547/94(*);
Whereas ,however,Article2ofRegulation (EEC)
No1068/93providesthat,incaseswheretheabsolute
valueofthedifference betweenthemonetarygapsintwo
MemberStates,calculated fromtheaverageontheecu
ratesforthreeconsecutive workingdays,exceedssix
points:
—therepresentative marketratesforthecurrencies in
questionshallbeadjustedonthebasisofthethree
workingdaysinquestion,
and
—thebasicreferenceperiodconcerned beginstheday
followingthesethreeworkingdays;
Whereas,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod11to15August1994,itis
necessaryontheonehandtofixthelimitsreferredtoin
paragraphs 1and3ofArticle4aofRegulation (EEC)
No3813/92at+3,494and—1,506andontheotherArticle2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
or
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Arttcle3
Regulation (EC)No1972/94isherebyrepealed.
(')OJNoL387,31.12.1992,p.1.Article4
ThisRegulation shallenterintoforceon17August1994.
Itisapplicable from16August1994ifrequestedbyinte­
restedparties.(2)OJNoL320,22.12.1993,p.32.
(3)OJNoL198,30.7.1994,p.114.
(4)OJNoL108,1.5.1993,p.106.
OOJNoL69,12.3.1994,p.1.

NoL211/5 17.8.94 OfficialJournaloftheEuropeanCommunities
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,16August1994.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
ANNEXI
Agricultural conversion rates
ECU1=49,3070 Belgianand
Luxembourg francs
9,34812 Danishkroner
2,35418 Germanmarks
346,789 Greekdrachmas
192,319 Spanishpesetas
7,98191 Frenchfrancs
0,976426 Irishpunt
2324,07 Italianlire
2,65256 Dutchguilders
239,331 Portuguese escudos
0,946550 Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=51,3615 Belgianand
Luxembourg francs
9,73763 Danishkroner
2,45227 Germanmarks
361,239 Greekdrachmas
200,332 Spanishpesetas
8,31449 Frenchfrancs
1,01711 Irishpunt
2420,91 Italianlire
2,76308 Dutchguilders
249,303 Portuguese escudos
0,985990 PoundsterlingECU1-47,4106 Belgianand
Luxembourg francs
8,98858 Danishkroner
2,26363 Germanmarks
333,451 Greekdrachmas
184,922 Spanishpesetas
7,67491 Frenchfrancs
0,938871 Irishpunt
2234,68 Italianlire
2,55054 Dutchguilders
230,126 Portuguese escudos
0,910144Poundsterling