13.5.95riN OfficialJournaloftheEuropeanCommunities NoL108/63
COMMISSION REGULATION (EC)No1079/95
of12May1995
fixingtheagricultural conversion rates
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Community ,Regulation (EC)No996/95itisnecessarytofixanew
agricultural conversion rateforthepoundsterling;
WhereasArticle15(2)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceistobeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable fortheamountconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,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)No901/950;
HASADOPTED THISREGULATION :
Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.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),
aslastamended byRegulation (EC)No157/95(*);
whereasparagraph 2ofthatArticleprovidesthat,incases
wheretheabsolute valueofthedifference betweenthe
monetarygapsintwoMemberStates,calculated fromthe
averageoftheecuratesforthreeconsecutive quotation
days,exceedssixpoints,therepresentative marketrates
aretobeadjustedonthebasisofthethreequotation days
inquestion ;Article 2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .Whereastheconfirmation periodthatbeganon25April
1995endson24May1995inaccordance withArticle 1
ofCommission Regulation (EC)No996/95of3May
1995layingdownspecialrulesforfixingagricultural
conversion rates(6);
Article3
Regulation (EC)No901/95isherebyrepealed .Whereas ,asaconsequence oftheexchangeratesrecorded
from5to14May1995,andtheapplication ofArticle2of
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL22,31.1.1995,p.1.
0)OJNoL92,25.4.1995,p.22.
(4)OJNoL108,1.5.1993,p.106.Article4
ThisRegulation shallenterintoforceon15May1995.(5)OJNoL24,1.2.1995,p.1.
(6)OJNoL101,4.5.1995,p.15.

NoL108/64 IENI OfficialJournaloftheEuropeanCommunities 13.5.95
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,12May1995.
FortheCommission
FranzFISCHLER
MemberoftheCommission

13.5.95 EN OfficialJournaloftheEuropeanCommunities NoL108/65
ANNEXI
Agricultural conversion rates
ECU1=40,8337
7,74166
1,94962
302,837
198,202
6,61023
5,88000
2,19672
0,829498
2311,19
13,7190
170,165
9,91834
0,840997Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
iCU1=39,2632 Belgianand ECU1=42,5351 Belgianand
Luxembourg francs Luxembourg francs
7,44390 Danishkroner 8,06423 Danishkroner
1,87463 Germanmarks 2,03085 Germanmarks
291,189 Greekdrachmas 315,455 Greekdrachmas
190,579 Portuguese escudos 206,460 Portuguese escudos
6,35599 Frenchfrancs 6,88566 Frenchfrancs
5,65385 Finnishmarks 6,12500 Finnishmarks
2,11223 Dutchguilders 2,28825 Dutchguilders
0,797594 Irishpunt 0,864060 Irishpunt
2222,30 Italianlire 2407,49 Italianlire
13,1913 Austrianschillings 14,2906 Austrianschillings
163,620 Spanishpesetas 177,255 Spanishpesetas
9,53687 Swedishkroner 10,3316 Swedishkroner
0,808651 Poundsterling 0,876039 Poundsterling