22.7.95 EN OfficialJournaloftheEuropeanCommunities NoL172/1
I
(Actswhosepublication isobligatory)
COMMISSION REGULATION (EC)No1766/95
of21July1995
fixingtheagricultural conversion rates
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 ,
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)No150/95(2),andinparticularArticle3(1)
thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EC)No1726/95f);
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)No1053/95(*);
whereasparagraph 2ofthatArticleprovidesthat,incases
wheretheabsolute valueofthedifference betweenthe
monetarygapsintwoMemberStates,calculated fromthe
averageoftheecuratesforthreeconsecutive quotation
days,exceedssixpoints,therepresentative marketrates
aretobeadjustedonthebasisofthethreequotationdays
inquestion ;
Whereas ,asaconsequence oftheexchangeratesrecorded
from14to23July1995,itisnecessarytofixanewagri­
culturalconversion ratefortheDanishkroneandSpanish
peseta;Article2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EC)No1726/95isherebyrepealed .
(')OJNoL387,31.12.1992,p.1.0OJNoL22,31.1.1995,p.1.
(3)OJNoL163,14.7.1995,p.27.
(4)OJNoL108,1.5.1993,p.106.
4OJNoL107,12.5.1995,p.4.Article4
ThisRegulation shallenterintoforceon24July1995.

NoL172/2PEN OfficialJournaloftheEuropeanCommunities 22.7.95
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,21July1995.
FortheCommission
FranzFISCHLER
MemberoftheCommission
ANNEXI
Agricultural conversion rates
ECU1=39,5239
7,49997
1,90616
302,927
198,202
6,61023
5,88000
2,14021
0,829498
2248,15
13,4084
165,198
9,91834
0,843954Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA
ECU1=38,0038 Belgianand
Luxembourg francs
7,21151 Danishkroner
1,83285 Germanmarks
291,276 Greekdrachmas
190,579 Portuguese escudos
6,35599 Frenchfrancs
5,65385 Finnishmarks
2,05789 Dutchguilders
0,797594 Irishpunt
2161,68 Italianlire
12,8927 Austrianschillings
158,844 Spanishpesetas
9,53687 Swedishkroner
0,811494 PoundsterlingTableB
ECU1=41,1707 Belgianand
Luxembourg francs
7,81247Danishkroner
1,98558 Germanmarks
315,549 Greekdrachmas
206,460 Portuguese escudos
6,88566 Frenchfrancs
6,12500 Finnishmarks
2,22939 Dutchguilders
0,864060 Irishpunt
2341,82 Italianlire
13,9671Austrianschillings
172,081 Spanishpesetas
10,3316 Swedishkroner
0,879119 Poundsterling