NoL58/18 EN OfficialJournaloftheEuropeanCommunities 16.3.95
COMMISSION REGULATION (EC)No580/95
of15March1995
fixingtheagricultural conversion rates
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Community ,theItalianlira,theGreekdrachma,theSpanishpeseta,
theSwedishkrona,thepoundsterlingandtheIrish
pound;
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,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)No492/95(3);
HASADOPTED THISREGULATION :
WhereasArticle4ofRegulation (EEC)No3813/92
providesthat,subjecttoconfirmation periodsbeingtrig­
gered,theagricultural conversion rateforacurrencyisto
beadjustedwherethemonetarygapbetweenitandthe
representative marketrateexceedscertainlevels;Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.
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 between the
monetarygapsintwoMemberStates,calculated fromthe
averageoftheecuratesforthreeconsecutive quotation
days,exceedssixpoints,therepresentative marketrates
aretobeadjustedonthebasisofthethreequotationdays
inquestion ;Article2
1.InthecasereferredtoinArticle 15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
2.However ,inthecaseofagricultural conversion rates
fixedinadvancebefore 1February1995,theecurates
listedinAnnexIIshallbereplacedbythosesetoutin
AnnexIII.Whereas,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod6to15March1995,applying
Article4(1),(2)and(3)ofRegulation (EEC)No3813/92
wouldresultinaconsiderable reductionintheagricul­
turalconversion ratefortheBelgianfranc,theGerman
mark,theDutchguilderandtheAustrianschilling ;
whereas,therefore,Article4(5)ofRegulation (EEC)No
3813/92appliesinthecaseoftheBelgianfranc;whereas
itisnecessarytofixanewagricultural conversion rateforArticle3
Regulation (EC)No492/95isherebyrepealed .
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL22,31.1.1995,p.1.
(3)OJNoL49,4.3.1995,p.53.Article4
ThisRegulation shallenterintoforceon16March1995.(4)OJNoL108,1.5.1993,p.106.0OJNoL24,1.2.1995,p.1.

16.3.95PEN OfficialJournaloftheEuropean Communities NoL58/19
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,15March1995.
FortheCommission
FranzFISCHLER
MemberoftheCommission
ANNEXI
Agricultural conversion rates
ECU1=40,8337
7,74166
1,94962
300,872
198,202
6,61023
5,88000
2,19672
0,824325
2202,72
13,7190
169,712
9,52763
0,821220Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=39,2632 Belgianand ECU1=42,5351 Belgianand
l Luxembourg francs Luxembourg francs
7,44390 Danishkroner 8,06423 Danishkroner
1,87463 German marks 2,03085 German marks
289,300 Greekdrachmas 313,408 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
0,792620 Irishpunt 0,858672 Irishpunt
2118,00 Italianlire 2294,50 Italianlire
13,1913 Austrianschillings 14,2906 Austrianschillings
163,185 Spanishpesetas 171,783 Spanishpesetas
9,16118 Swedishkroner 9,92461 Swedishkroner
0,789635 Poundsterling 0,855438 Poundsterling

NoL58/20 EN OfficialJournaloftheEuropean Communities 16.3.95
ANNEXIII
Agricultural conversion ratesfixedinadvanceandadjustedwheretheywerefixedinadvance
before1February 1995
TableA TableB
ECU1=47,4107 Belgianand ECU1=51,3615 Belgianand
Luxembourg francs Luxembourg francs
8,98858 Danishkroner 9,73763 Danishkroner
2,26363 German marks 2,45227 German marks
349,332 Greekdrachmas 378,443 Greekdrachmas
230,126 Portuguese escudos 249,302 Portuguese escudos
7,67492 Frenchfrancs 8,31450 Frenchfrancs
6,82707 Finnishmarks 7,39599 Finnishmarks
2,55054 Dutchguilders 2,76308 Dutchguilders
0,957096 Irishpunt 1,03685 Irishpunt
2557,50 Italianlire 2770,63 Italianlire
15,9286 Austrianschillings 17,2560 Austrianschillings
197,047 Spanishpesetas 213,467 Spanishpesetas
11,0622 Swedishkroner 11,9841 Swedishkroner
0,953491 Poundsterling 1,03295 Poundsterling