1.8.97 IENI OfficialJournaloftheEuropeanCommunities NoL206/19
COMMISSION REGULATION (EC)No1535/97
of31July1997
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),andinparticular Article3(1)
thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EC)No1398/97(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
applying theagricultural conversion rates(4),aslast
amended byRegulation (EC)No1482/96(^whereas
paragraph 2ofthatArticleprovidesthat,incaseswhere
theabsolutevalueofthedifference betweenthemonetary
gapsintwoMemberStates,calculated fromtheaverageof
theecuratesforthreeconsecutive quotation days,exceeds
sixpoints,therepresentative marketratesaretobe
adjustedonthebasisofthethreequotation daysin
question ;
Whereas ,asaconsequence oftheexchangeratesrecorded
from21Julyto31July1997,itisnecessarytofixanew
agricultural conversion ratefortheBelgianfranc,theDanishkrone,theGermanmark,thePortuguese escudo,
theDutchguilder,theAustrianschillingandtheSpanish
peseta;
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.
Article 2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance ,
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .
Article3
Regulation (EC)No1398/97isherebyrepealed .
Article4
ThisRegulation shallenterintoforceon1August1997.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,31July1997.
FortheCommission
FranzFISCHLER
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
2OJNoL22,31.1.1995,p.1.
(3)OJNoL190,19.7.1997,p.44.
{*)OJNoL108,1.5.1993,p.106.0OJNoL188,27.7.1996,p.22.

NoL206/20EN OfficialJournaloftheEuropeanCommunities 1.8.97
ANNEXI
Agricultural conversion rates
ECU1=40,9321
7,54917
1,98243
312,011
200,230
6,68769
6,02811
2,23273
0,759189
1973,93
13,9485
167,111
8,88562
0,720829Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Portuguese escudos
Frenchfrancs
Finnishmarks
Dutchguilders
Irishpunt
Italianlire
Austrianschillings
Spanishpesetas
Swedishkroner
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=39,3578 Belgianand ECU1=42,6376 Belgianand
Luxembourg francs Luxembourg francs
7,25882 Danishkroner 7,86372 Danishkroner
1,90618 German marks 2,06503 German marks
300,011 Greekdrachmas 325,01 1Greekdrachmas
192,529 Portuguese escudos 208,573 Portuguese escudos
6,43047 Frenchfrancs 6,96634 Frenchfrancs
5,79626 Finnish marks 6,27928 Finnishmarks
2,14686 Dutchguilders 2,32576 Dutchguilders
0,729989 Irishpunt 0,790822 Irishpunt
1898,01 Italianlire 2056,18 Italianlire
13,4120 Austrianschillings 14,5297 Austrianschillings
160,684 Spanishpesetas 174,074 Spanishpesetas
8,54387 Swedish kroner 9,25585 Swedishkroner
0,693105 Poundsterling 0,750864 Poundsterling