CELEX: 31995R1492
Language: en
Date: 1995-06-28 00:00:00
Title: COMMISSION REGULATION (EC) No 1492/95 of 28 June 1995 fixing the agricultural conversion rates

No L 145/84          T EN 1               Official Journal of the European Communities                                  29 . 6 . 95
                                         COMMISSION REGULATION (EC) No 1492/95
                                                          of 28 June 1995
                                            fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                          the agricultural conversion rate in force at the time of the
                                                                     operative event applicable for the amount concerned
 Having regard to the Treaty establishing the European               exceeds four points ; whereas, in that event, the agricul­
 Community,                                                          tural conversion rate fixed in advance is brought more
                                                                     closely into line with the rate in force, up to the level of a
 Having regard to Council Regulation (EEC) No 3813/92                gap of four points with that rate ; whereas the rate which
 of 28 December 1992 on the unit of account and the                  replaces the agricultural conversion rate fixed in advance
 conversion rates to be applied for the purposes of the              should be specified ;
 common agricultural policy (<), as last amended by Regu­
 lation (EC) No 1 50/95 (2), and in particular Article 3 (2)         Whereas the measures provided for in this Regulation are
 and 12 thereof,                                                     in accordance with the opinion of the Management
                                                                     Committee concerned,
Whereas the agricultural conversion rates were fixed by
 Commission Regulation (EC) No 1417/95 (3) ;
                                                                     HAS ADOPTED THIS REGULATION :
Whereas Article 4 of Regulation (EEC) No 3813/92
provides that, subject to confirmation periods being trig­
gered, the agricultural conversion rate for a currency is to                                  Article 1
be adjusted where the monetary gap between it and the
 representative market rate exceeds certain levels ;                 The agricultural conversion rates are fixed in Annex I
                                                                     hereto.
Whereas monetary gaps are currently in excess of four
 points and were in excess of five points on several occa­
sions during the month of February ; whereas that situa­                                      Article 2
tion has been confirmed for the German mark, the
Austrian schilling and the Dutch guilder and has created              1 . The advance fixing of the agricultural conversion
uncertainty on the markets as well as risks of distortion of         rate for the German mark, the Austrian schilling and the
the flow of trade ;                                                  Dutch guilder shall be suspended for applications
                                                                     submitted from 29 to 30 June 1995.
Whereas under these conditions it is appropriate to
reduce certain monetary gaps recorded in relation to                 2. Article 15 (1 ) of Regulation (EEC) No 1068/93 shall
representative market rates determined on the basis of the           not apply for the agricultural conversion rates amended
reference period 24 May to 23 June 1995, with effect                 by this Regulation.
from 1 July 1 995, the date of commencement of several
marketing years ; whereas new agricultural conversion
rates should therefore be fixed on the basis of a reduction                                   Article 3
by half the monetary gap for the German mark, the
Austrian schilling and the Dutch guilder ;                           In the case referred to in Article 15 (2) of Regulation
                                                                     (EEC) No 1068 /93, the agricultural conversion rate fixed
Whereas, in the case of the currencies in question, it is            in advance shall be replaced by the ecu rate for the
necessary to suspend the application of the rules on                 currency concerned, shown in Annex II :
advance fixing of agricultural conversion rates which may            — Table A, where the latter rate is higher than the rate
occur before 1 July 1995, in order to avoid difficulties for              fixed in advance,
the markets ; whereas, however, the application of Article
 15 (1 ) of Commission Regulation (EEC) No 1068/93 of 30             — Table B, where the latter rate is lower than the rate
April 1993 on detailed rules for determining and applying                 fixed in advance .
the agricultural conversion rates (4), as last amended by
Regulation (EC) No l053/95 (*) is not justified ;
                                                                                              Article 4
Whereas Article 15 (2) of Regulation (EEC) No 1068/93
provides that an agricultural conversion rate fixed in               Regulation (EC) No 1417/95 is hereby repealed.
advance is to be adjusted in the gap between that rate and
                                                                                              Article 5
(•) OJ   No  L 387, 31 . 12. 1992, p. 1 .
0   OJ   No  L 22, 31 . 1 . 1995, p. 1 .                             This Regulation shall enter into force on 29 June 1995.
(3) OJ   No  L 141 , 24. 6. 1995, p. 3.
(<) OJ   No  L 108, 1 . 5. 1993, p. 106.
0   OJ   No  L 107, 12. 5. 1995, p. 4.                               However, Articles 1 and 3 shall apply from 1 July 1995.
 ---pagebreak--- 29. 6 . 95        EN                 Official Journal of the European Communities                                 No L 145/85
              This Regulation shall be binding in its entirety and directly applicable in all Member
              States.
              Done at Brussels, 28 June 1995.
                                                                             For the Commission
                                                                                 Franz FISCHLER
                                                                          Member of the Commission
                                                            ANNEX I
                                                 Agricultural conversion rates
                                     ECU 1           39,5239    Belgian and
                                                                Luxembourg francs
                                                      7,74166   Danish kroner
                                                      1,90616   German marks
                                                   302,837      Greek drachmas
                                                    198,202     Portuguese escudos
                                                      6,61023   French francs
                                                      5,88000   Finnish marks
                                                      2,14021   Dutch guilders
                                                      0,829498  Irish punt
                                                  2311,19       Italian lire
                                                     13,4084    Austrian schillings
                                                    170,165     Spanish pesetas
                                                      9,91834   Swedish kroner
                                                      0,840997  Pound sterling
                                                          ANNEX II
                              Agricultural conversion rates fixed in advance and adjusted
                                Table A                                                  Table B
           ECU 1 =       38,0600     Belgian and                 ECU 1 =         41,2317      Belgian and
                                     Luxembourg francs                                        Luxembourg francs
                          7,44390    Danish kroner                                8,06423     Danish kroner
                          1,83285    German marks                                 1,98558     German marks
                        291,189      Greek drachmas                            315,455        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
                          2,05789 Dutch guilders                                  2,22939     Dutch guilders
                          0,797594 Irish punt                                     0,864060    Irish punt
                      2 222,30       Italian lire                            2 407,49         Italian lire
                         12,8927     Austrian schillings                         13,9671      Austrian schillings
                        163,620      Spanish pesetas                            177,255       Spanish pesetas
                          9,53687    Swedish kroner                              10,3316      Swedish kroner
                          0,808651   Pound sterling                               0,876039    Pound sterling