NoL20/32fENI OfficialJournaloftheEuropeanCommunities 23.1.97
COMMISSION REGULATION (EC)No116/97
of22January 1997
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)No91/97(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
applyingtheagricultural conversion rates(4),aslast
amendedbyRegulation (EC)No1482/96(^whereas
paragraph 2ofthatArticleprovidesthat,incaseswhere
theabsolutevalueofthedifference betweenthemonetary
gapsintwoMemberStates,calculatedfromtheaverageof
theecuratesforthreeconsecutive quotationdays,exceeds
sixpoints,therepresentative marketratesaretobe
adjustedonthebasisofthethreequotationdaysinques­
tion;
Whereas ,asaconsequence oftheexchangeratesrecorded
from20to22January1997,itisnecessarytofixanew
agricultural conversion ratefortheBelgianfranc,theGermanmark,theDutchguilderandtheAustrianschil­
ling;
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)No91/97isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon23January
1997.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicableinallMember
States.
DoneatBrussels,22January1997.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.$OJNoL22,31.1.1995,p.1.
(3)OJNoL17,21.1.1997,p.32.
(4)OJNoL108,1.5.1993,p.106.oOJNoL188,27.7.1996,p.22.

23.l.97PEN] OfficialJournaloftheEuropeanCommunities NoL20/33
ANNEXI
Agricultural conversion rates
ECU1=40,3103
7,49997
1,95540
311,761
198,202
6,61023
6,02811
2,19663
0,778173
1973,93
13,7562
165,198
8,64446
0,768177Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEX II
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=38,7599 Belgianand ECU1=41,9899 Belgianand
Luxembourg francs Luxembourg francs
7,21151 Danishkroner 7,81247 Danishkroner
1,88019 German marks 2,03688 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
2,11214 Dutchguilders 2,28816 Dutchguilders
0,748243 Irishpunt 0,810597 Irishpunt
1898,01 Italianlire 2056,18 Italianlire
13,2271 Austrianschillings 14,3294 Austrianschillings
158,844 Spanishpesetas 172,081 Spanishpesetas
8,31198 Swedish kroner 9,00465 Swedish kroner
0,738632 Poundsterling 0,800184 Poundsterling