NoL49/84 OfficialJournaloftheEuropeanCommunities27.2.93
COMMISSION REGULATION (EEC)No468/93
of26February 1993
fixingtheagricultural conversion rates
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Economic Community ,
HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),andinparticularArticle3
(1)thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EEC)No219/93(2);
WhereasArticle4(1)ofRegulation (EEC)No3813/92
providesthattheagricultural conversion rateforafloating
currencyshallbeadjustedwherethemonetarygapwith
therepresentative marketrateforthelastreferenceperiod
ofamonthexceedstwopoints;whereas,inthatcase,the
newagricultural conversion rateisfixedsoastoreduce
thatmonetarygapbyhalf;
Whereastherepresentative marketratesaredetermined
onthebasisofreferenceperiodsdetermined inaccord­
ancewithCommission Regulation (EEC)No3819/92of
28December 1992ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(3);
Whereas ,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod21to28February1993,itis
necessarytofixanewagricultural conversion rateforthe
poundsterling;
WhereasArticle11(2)ofRegulation (EEC)No3819/92
providesthatanagricultural conversion ratefixedinadvanceshallbeadjustedifthegapbetweenthatrateand
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.
Article2
InthecasereferredtoinArticle11(2)ofRegulation
(EEC)No3819/92,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance,
or
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
ThisRegulation shallenterintoforceon1March1993.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,26February 1993.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.0OJNoL26,3.2.1993,p.13,0OJNoL387,31.12.1992,p.17.

NoL49/85 27.2.93 OfficialJournaloftheEuropeanCommunities
ANNEXI
Agricultural conversion rates
ECU148,5563 Belgianand
Luxembourg francs
8,97989 Danishkroner
2,35418 Germanmarks
310,351 Greekdrachmas
166,075 Spanishpesetas
7,89563 Frenchfrancs
0,957268 Irishpunt
2207,67 Italianlire
2,65256 Dutchguilders
212,128 Portuguese escudos
0,980715 Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1-46,6888 Belgianand ECU1=50,5795 Belgianand
Luxembourg francs Luxembourg francs
8,63451 Danishkroner 9,35405 Danishkroner
2,26363 Germanmarks 2,45227 Germanmarks
298,414 Greekdrachmas 323,282 Greekdrachmas
159,688 Spanishpesetas 172,995 Spanishpesetas
7,59195 Frenchfrancs 8,22461 Frenchfrancs
0,920450 Irishpunt 0,997154 Irishpunt
2122,76 Italianlire 2299,66 Italianlire
2,55054 Dutchguilders 2,76308 Dutchguilders
203,969 Portuguese escudos 220,966 Portuguese escudos
0,942995 Poundsterling 1,02158 Poundsterling