CELEX: 31995R0492
Language: en
Date: 1995-03-03 00:00:00
Title: COMMISSION REGULATION (EC) No 492/95 of 3 March 1995 fixing the agricultural conversion rates

4. 3. 95               EN               Official Journal of the European Communities                                No L 49/53
                                       COMMISSION REGULATION (EC) No 492/95
                                                       of 3 March 1995
                                         fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       days, exceeds six points, the representative market rates
                                                                  are to be adjusted on the basis of the three quotation days
Having regard to the Treaty establishing the European             in question ;
Community,                                                        Whereas, as a consequence of the exchange rates recorded
                                                                  during the reference period 24 February to 5 March 1995,
Having regard to Council Regulation (EEC) No 3813/92              it is necessary to fix a new agricultural conversion rate for
of 28 December 1992 on the unit of account and the                the Italian lira, the Greek drachma, the Spanish peseta,
conversion rates to be applied for the purposes of the            the Swedish krona and the pound sterling ;
common agricultural policy ('), as last amended by Regu­
lation (EC) No 1 50/95 (2), and in particular Article 3 (1 )      Whereas Article 15 (2) of Regulation (EEC) No 1068/93
thereof,                                                          provides that an agricultural conversion rate fixed in
                                                                  advance is to be adjusted if the gap between that rate and
                                                                  the agricultural conversion rate in force at the time of the
Having regard to Commission Regulation (EC) No 158/95             operative event applicable for the amount concerned
of 31 January 1995 laying down transitional measures for          exceeds four points ; whereas, in that event, the agricul­
the abolition of the correcting factor applicable to the          tural conversion rate fixed in advance is brought more
conversion rates used in the agricultural sector (3), and in      closely into line with the rate in force, up to the level of a
particular Article 2 (2) thereof,                                 gap of four points with that rate ; whereas the rate which
                                                                  replaces the agricultural conversion rate fixed in advance
Whereas the agricultural conversion rates were fixed by           should be specified,
Commission Regulation (EC) No 382/95 (4) ;
Whereas Article 4 of Regulation (EEC) No 3813/92                  HAS ADOPTED THIS REGULATION :
provides that, subject to confirmation periods being trig­
gered, the agricultural conversion rate for a currency is to
be adjusted where the monetary gap between it and the                                        Article 1
representative market rate exceeds certain levels ;
                                                                  The agricultural conversion rates are fixed in Annex I
                                                                  hereto.
Whereas the positive monetary gap recorded for the
Belgian franc during the reference period from 24
February to 5 March 1995 is greater than five points ;                                       Article 2
whereas applying Article 4 (1 ), (2) and (3) of Regulation
(EEC) No 3813/92 would result in a considerable reduc­             1.    In the case referred to in Article 1 5 (3) of Regulation
tion in the agricultural conversion rate for the currency in      (EEC) No 1068/93, the agricultural conversion rate fixed
question ; whereas, therefore, Article 4 (5) of Regulation        in advance shall be replaced by the ecu rate for the
(EEC) No 3813/92 applies in the case of the Belgian               currency concerned, shown in Annex II :
franc ;
                                                                  — Table A, where the latter rate is higher than the rate
                                                                       fixed in advance,
Whereas the representative market rates are determined
on the basis of basic reference periods or, where appli­          — Table B, where the latter rate is lower than the rate
cable, confirmation periods, established in accordance                 fixed in advance.
with Article 2 of Commission Regulation (EEC) No
1068/93 of 30 April 1993 on detailed rules for deter­             2. However, in the case of agricultural conversion rates
mining and applying the agricultural conversion rates 0,          fixed in advance before 1 February 1995, the ecu rates
as last amended by Regulation (EC) No 1 57/95 (6) ;               listed in Annex II shall be replaced by those set out in
whereas paragraph 2 of that Article provides that, in cases       Annex III .
where the absolute value of the difference between the
monetary gaps in two Member States, calculated from the
                                                                                             Article 3
average of the ecu rates for three consecutive quotation
                                                                  Regulation (EC) No 382/95 is hereby repealed.
(') OJ  No L 387, 31 . 12. 1992, p. 1 .
O   OJ  No L 22, 31 . 1 . 1995, p. 1 .
(3) OJ  No L 24, 1 . 2. 1995, p. 4.                                                          Article 4
(4) OJ  No L 42, 24. 2. 1995, p. 23.
O   OJ  No L  108, 1 . 5. 1993, p. 106.
O   OJ  No L  24, 1 . 2. 1995, p. 1 .                             This Regulation shall enter into force on 6 March 1995.
 ---pagebreak--- No L 49/54     Hen I                 Official Journal of the European Communities                                 4. 3 . 95
             This Regulation shall be binding in its entirety and directly applicable in all Member
             States.
             Done at Brussels, 3 March 1995.
                                                                              For the Commission
                                                                                 Franz FISCHLER
                                                                           Member of the Commission
                                                             ANNEX I
                                                Agricultural conversion rates
                                     ECU 1 =         40,8337    Belgian and
                                                                Luxembourg francs
                                                      7,74166   Danish kroner
                                                       1 ,94962 German marks
                                                    298,323     Greek drachmas
                                                    198,202     Portuguese escudos
                                                      6,61023   French francs
                                                      5,88000   Finnish marks
                                                      2,19672   Dutch guilders
                                                      0,809785  Irish punt
                                                  2 122,73      Italian lire
                                                     13,7190    Austrian schillings
                                                    164,774     Spanish pesetas
                                                     9,40716    Swedish kroner
                                                      0,807419  Pound sterling
                                                            ANNEX II
                             Agricultural conversion rates fixed in advance and adjusted
                                Table A                                                  Table B
          ECU 1 =       39,2632      Belgian and                  ECU 1 =        42,5351      Belgian and
                                     Luxembourg francs                                        Luxembourg francs
                         7,44390     Danish kroner                                8,06423     Danish kroner
                         1,87463     German marks                                 2,03085     German marks
                       286,849       Greek drachmas                             310,753       Greek drachmas
                       190,579       Portuguese escudos                         206,460       Portuguese escudos
                         6,35599     French francs                                6,88566     French francs
                         5,65385     Finnish marks                                6,12500     Finnish marks
                         2,1 1223    Dutch guilders                               2,28825     Dutch guilders
                         0,778639    Irish punt                                   0,843526    Irish punt
                     2 041,09        Italian lire                            2211,18          Italian lire
                        13,1913      Austrian schillings                         14,2906      Austrian schillings
                       158,437       Spanish pesetas                            171,640       Spanish pesetas
                         9,04535     Swedish kroner                               9,79913     Swedish kroner
                         0,776364    Pound sterling                               0,841061    Pound sterling
 ---pagebreak--- 4. 3. 95      [ EN                Official Journal of the European Communities                            No L 49 /55
                                                       ANNEX III
         Agricultural conversion rates fixed in advance and adjusted where they were fixed in advance
                                                before 1 February 1995
                              Table A                                            Table B
         ECU 1 =       47,4107     Belgian and              ECU 1 =       51,3615     Belgian and
                                    Luxembourg francs                                 Luxembourg francs
                        8,98858    Danish kroner                           9,73763    Danish kroner
                        2,26363    German marks                            2,45227    German marks
                      346,373      Greek drachmas                        375,237      Greek drachmas
                      230,126      Portuguese escudos                    249,302      Portuguese escudos
                        7,67492    French francs                           8,31450    French francs
                        6,82707    Finnish marks                           7,39599    Finnish marks
                        2,55054    Dutch guilders                          2,76308    Dutch guilders
                        0,940214   Irish punt                              1,01857    Irish punt
                    2 464,63       Italian lire                        2 670,02       Italian lire
                       15,9286     Austrian schillings                    17,2560     Austrian schillings
                      191,314      Spanish pesetas                       207,257      Spanish pesetas
                       10,9223     Swedish kroner                         11,8325     Swedish kroner
                        0,937467   Pound sterling                          1,01559    Pound sterling