CELEX: 31995R0028
Language: en
Date: 1995-01-10 00:00:00
Title: COMMISSION REGULATION (EC) No 28/95 of 10 January 1995 fixing the agricultural conversion rates

11 . 1 . 95                               Official Journal of the European Communities                                  No L 7/ 1
                                                                  I
                                                (Acts whose publication is obligatory)
                                          COMMISSION REGULATION (EC) No 28/95
                                                         of 10 January 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 currency 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 3528/93 (2), and in particular Article 3 ( 1 )
thereof,
                                                                      HAS ADOPTED THIS REGULATION :
Whereas the agricultural conversion rates were fixed by
Commission Regulation (EC) No 3340/94 (3) ;
                                                                                                Article 1
Whereas Article 4 of Regulation (EEC) No 3813/92
provides that the agricultural conversion rate for a floating
currency is to be adjusted where the monetary gap                    The agricultural conversion rates are fixed in Annex I
between it and the representative market rate exceeds                 hereto .
certain levels ; whereas, notwithstanding that Article 4,
Article 4a of that Regulation applies until 31 December
 1994 ; whereas Council Regulation (EC) No 331 1 /94 (4)                                        Article 2
extends these provisions until 31 January 1995 ;
Whereas the representative market rates are determined                In the case referred to in Article 15 (3) of Regulation
on the basis of reference periods established in accord­             (EEC) No 1068/93, the agricultural conversion rate fixed
ance with Commission Regulation (EEC) No 1068/93 of                   in advance shall be replaced by the ecu rate for the
30 April 1993 on detailed rules for determining and                   currency concerned, shown in Annex II :
applying the agricultural conversion rates (*), as amended
by Regulation (EC) No 547/94 (6) ;                                   — Table A, where the latter rate is higher than the rate
                                                                          fixed in advance,
Whereas, as a consequence of the exchange rates recorded
during the reference period 1 to 10 January 1995, it is                   or
necessary of the one past to fix the limits referred to in
paragraphs 1 and 3 of Article 4a of Regulation (EEC)                 — Table B, where the latter rate is lower than the rate
No 3813/92 at 4- 4,019 and — 0,981 and of the other                       fixed in advance.
part to fix a new agricultural conversion rate for the
Spanish peseta and Italian lira ;
                                                                                                Article 3
Whereas Article 15 (3) of Regulation (EEC) No 1068/93
provides that an agricultural conversion rate fixed in
advance shall be adjusted if the gap between that rate and            Regulation (EC) No 3340/94 is hereby repealed.
(') OJ   No  L 387, 31 . 12. 1992, p. 1 .
(2) OJ   No  L 320, 22. 12. 1993, p. 32.                                                        Article 4
(3) OJ   No  L 350, 31 . 12. 1994, p. 80.
(4) OJ   No  L 350, 31 . 12. 1994, p. 1 .
O   OJ   No  L 108, 1 . 5. 1993, p. 106.                             This Regulation shall enter into force on 11 January
(*) OJ   No  L 69, 12. 3. 1994, p. 1 .                                1995.
 ---pagebreak--- No L 7/2                          Official Journal of the European Communities                                11 . 1 . 95
           This Regulation shall be binding in its entirety and directly applicable in all Member
           States .
           Done at Brussels, 10 January 1995.
                                                                          For the Commission
                                                                             Rene STEICHEN
                                                                      Member of the Commission
                                                          ANNEX I
                                              Agricultural conversion rates
                                   ECU 1    =      49,3070   Belgian and
                                                             Luxembourg francs
                                                    9,34812  Danish kroner
                                                    2,35418  German marks
                                                  354,617    Greek drachmas
                                                  239,331    Portuguese escudos
                                                    7,98191  French francs
                                                    7,02071  Finnish marks
                                                    2,65256  Dutch guilders
                                                    0,976426 Irish punt
                                                2 395,55     Italian lire
                                                   16,5658   Austrian schillings
                                                  195,195    Spanish pesetas
                                                   10,9857   Swedish Kroner
                                                    0,953575 Pound sterling
                                                         ANNEX II
                            Agricultural conversion rates fixed in advance and adjusted
                              Table A                                                Table B
         ECU 1 =       47,4106     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
                      340,978      Greek drachmas                            369,393      Greek drachmas
                      230,126      Portuguese escudos                        249,303      Portuguese escudos
                        7,67491    French francs                               8,31449    French francs
                        6,75068    Finnish marks                               7,31324    Finnish marks
                        2,55054    Dutch guilders                              2,76308    Dutch guilders
                        0,938871   Irish punt                                  1,01711    Irish punt
                    2 303,41       Italian lire                           2 495,36        Italian lire
                       15,9287     Austrian schillings                        17,2560     Austrian schillings
                      187,688      Spanish pesetas                           203,328      Spanish pesetas
                       10,5632     Swedish Kroner                             11,4434     Swedish Kroner
                        0,916899   Pound sterling                              0,993307   Pound sterling