1.7.93 OfficialJournaloftheEuropeanCommunities NoL159/59
COMMISSION REGULATION (EEC)No1702/93
of30June1993
fixingtheagricultural conversion rates
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Economic Community ,WhereasArticle15(2)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceshallbeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable forthecurrencyconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ;
WhereasthemeasuresprovidedforinthisRegulation for
theIrishpuntareinaccordance withtheopinionsofthe
relevantManagement Committees ,HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),andinparticularArticle3
(1)andArticle4(2)thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EEC)No1504/93(2);
HASADOPTED THISREGULATION :
WhereasArticle4(1)ofRegulation (EEC)No3813/92
providesthattheagricultural conversion rateforafloating
currencyshallbeadjustedwherethemonetarygapwith
therepresentative marketrateforthelastreferenceperiod
ofamonthexceedstwopoints;whereas,inthatcase,the
newagricultural conversion rateisfixedsoastoreduce
thatmonetarygapbyhalf;Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.
Whereastherepresentative marketratesaredetermined
onthebasisofreferenceperiodsdetermined inaccord­
ancewithCommission Regulation (EEC)No1068/93of
30April1993,ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(3);Article2
InthecasereferredtoinArticle15(2)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance,
or
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .Whereas ,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod21to30June1993,itis
necessarytofixanewagricultural conversion rateforthe
Italianlira,thepoundsterling,theIrishpuntandthe
Greekdrachma :
Whereastheagricultural conversion ratefortheIrish
puntwasadjustedaftertherealignment of30January
1993byRegulation (EEC)No219/93(4),leavingamone­
tarygapoftwopointswhich,pursuanttoArticle4(2)of
Regulation (EEC)No3813/92,mustbedismantled within
12monthsoftherealignment inquestion ;whereasthe
gapshouldbedismantled witheffectfrom1July1993;Article3
Regulation (EEC)No1504/93isherebyrepealed.
(')OJNoL387,31.12.1992,p.1.
(2)OJNoL148,19.6.1993,p.30.
(3)OJNoL108,1.5.1993,p.106.
4)OJNoL26,3.2.1993,p.13.Article4
ThisRegulation shallenterintoforceon1July1993.

NoL159/60 OfficialJournaloftheEuropean Communities 1.7.93
ThisRegulation shallbebindinginits,entiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,30June1993.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
ANNEXI
Agricultural conversion rates
ECU1=48,5563
8,97989
2,35418
319,060
182,744
7,89563
0,976426
2166,58
2,65256
222,758
0,948645Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Spanishpesetas
Frenchfrancs
Irishpunt
Italianlire
Dutchguilders
Portuguese escudos
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
305,788 Greekdrachmas 352,384 Greekdrachmas
175,715 Spanishpesetas 190,358 Spanishpesetas
7,59195 Frenchfrancs 8,22461 Frenchfrancs
0,938871 Irishpunt 1,01711 Irishpunt
2083,25 Italianlire 2256,85 Italianlire
2,55054 Dutchguilders 2,76308 Dutchguilders
214,190 Portuguese escudos 232,040 Portuguese escudos
0,912159 Poundsterling 0,988172 Poundsterling