21.5.94 OfficialJournaloftheEuropeanCommunities NoL129/17
COMMISSION REGULATION (EC)No1160/94
of20May1994
fixingtheagricultural conversion rates
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable forthecurrencyconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,HavingregardtotheTreatyestablishing theEuropean
Community ,
HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),aslastamendedbyRegu­
lation(EC)No3528/93(2),andinparticularArticle3(1)
thereof,HASADOPTED THISREGULATION :
Article 1Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EC)No752/94(3);
Theagricultural conversion ratesarefixedinAnnexI
hereto.
WhereasArticle4ofRegulation (EEC)No3813/92
providesthattheagricultural conversion rateforafloating
currency istobeadjustedwherethemonetary gap
betweenitandtherepresentative marketrateexceeds
certainlevels;whereas,notwithstanding thatArticle4,
Article4aofthatRegulation appliesuntil31December
1994;Article2
Whereastherepresentative marketratesaredetermined
onthebasisofreferenceperiodsestablished inaccord­
ancewithCommission Regulation (EEC)No1068/93of
30April1993ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(4),amendedby
Regulation (EC)No547/94(*);InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
or
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Whereas,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod11to20May1994,itis
necessarytofixanewagricultural conversion rateforthe
Greekdrachma ;Article3
Regulation (EC)No752/9Aisherebyrepealed .WhereasArticle15(3)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceshallbeadjustedifthegapbetweenthatrateand
(•)OJNoL387,31.12.1992,p.1. Article4
(2)OJNoL320,22.12.1993,p.32.
OOJNoL88,1.4.1994,p.1.
(4)OJNoL108,1.5.1993,p.106.
OOJNoL69,12.3.1994,p.1. ThisRegulation shallenterintoforceon21May1994.

NoL129/18 OfficialJournaloftheEuropeanCommunities 21.5.94
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,20May1994.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
ANNEXI
Agricultural conversion rates
ECU1=49,3070 Belgianand
Luxembourg francs
9,34812 Danishkroner
2,35418 Germanmarks
342,048 Greekdrachmas
192,319Spanishpesetas
7,98191 Frenchfrancs
0,976426 Irishpunt
2274,93 Italianlire
2,65256 Dutchguilders
236,933 Portuguese escudos
0,920969 Poundsterling
ANNEX II
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=47,4106 Belgianand ECU1=51,3615 Belgianand
Luxembourg francs Luxembourg francs
8,98858 Danishkroner 9,73763 Danishkroner
2,26363 Germanmarks 2,45227 Germanmarks
328,892 Greekdrachmas 356,300 Greekdrachmas
184,922 Spanishpesetas 200,332 Spanishpesetas
7,67491 Frenchfrancs 8,31449 Frenchfrancs
0,938871 Irishpunt 1,01711 Irishpunt
2187,43 Italianlire 2369,72 Italianlire
2,55054 Dutchguilders 2,76308 Dutchguilders
227,820 Portuguese escudos 246,805 Portuguese escudos
0,885547 Poundsterling 0,959343 Poundsterling