CELEX: 31993R2811
Language: en
Date: 1993-10-14
Title: Commission Regulation (EEC) No 2811/93 of 13 October 1993 adjusting certain agricultural conversion rates to prevent the risk of disturbances of the market

No L 256/ 16                             Official Journal of the European Communities                                 14. 10 . 93
                                     COMMISSION REGULATION (EEC) No 2811/93
                                                      of 13 October 1993
                  adjusting certain agricultural conversion rates to prevent the risk of disturbances
                                                         of the market
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        advance shall be adjusted if the gap between that rate and
                                                                   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
Economic Community,                                                tural conversion rate fixed in advance is brought more
                                                                   closely into line with the rate in force, up to the level of a
                                                                   gap of four points with that rate ; whereas the rate which .
 Having regard to Council Regulation (EEC) No 3813/92              replaces the agricultural conversion rate fixed in advance
of 28 December 1992 on the unit of account and the                 should be specified,
conversion rates to be applied for the purposes of the
common agricultural policy ('), and in particular
Article 11 (2) thereof,
                                                                   HAS ADOPTED THIS REGULATION :
Whereas the agricultural conversion rates were fixed by
Commission Regulation (EEC) No 2422/93 (2) ; whereas
those rates have remained unchanged pursuant to
Commission Regulation (EEC) No 2711 /93 of
30 September 1993 derogating, for a limited period, from                                     Article 1
the provisions for systematic adjustment of the agricul­
tural conversion rates (3) ;
                                                                   The agricultural conversion rates are fixed in Annex I
                                                                   hereto.
Whereas owing to monetary developments and the situa­
tion on the various markets, trade may be deflected as a
result of the gaps that have arisen, in particular, between :
                                                                                            Article 2
on the one hand, the Belgian or Luxembourg franc and
the Dutch guilder or German mark and,                              In the case referred to in Article 15 (3) of Regulation
on the other hand, the Italian lira or Greek drachma and           (EEC) No 1068/93, the agricultural conversion rate fixed
the Spanish peseta ;                                               in advance shall be replaced by the ecu rate for the
                                                                   currency concerned, shown in Annex II :
                                                                   — Table A, where the latter rate is higher than the rate
Whereas, in order to prevent such disturbances of the                  fixed in advance,
market, while at the same time respecting the objective of
Regulation (EEC) No 2711 /93, the agricultural conversion              or
rates should be adjusted in such a way as to reduce the
monetary gaps between them and the representative                  — Table B, where the latter rate is lower than the rate
                                                                       fixed in advance.
market rate calculated on the basis of the period from 1 1
to 13 October 1993 ; whereas, in view of the economic
risks which exist, it would appear appropriate to reduce
the gaps by a half for the Belgian or Luxembourg franc
and to — 2.0 points for the Italian lira and the Greek                                      Article 3
drachma ;
                                                                   Regulation (EEC) No 2422/93 is hereby repealed.
Whereas Article 15 (3) of Commission Regulation (EEC)
No 1068/93 of 30 April 1993 on detailed rules for deter­
mining and applying the agricultural conversion rates (4)
provides that an agricultural conversion rate fixed in                                      Article 4
O   OJ No   L 387, 31 . 12. 1992, p. 1 .                           This Regulation shall enter into force on the day of its
(2) OJ No   L 222, 1 . 9. 1993, p. 40.
(3) OJ No   L 245, 1 . 10. 1993, p. 134.                           publication in the Official Journal of the European
(4) OJ No   L 108, 1 . 5. 1993, p. 106.                            Communities.
 ---pagebreak--- 14. 10. 93                    Official Journal of the European Communities                        No L 256/ 17
           This Regulation shall be binding in its entirety and directly applicable in all Member
           States.
           Done at Brussels, 13 October 1993.
                                                                  For the Commission
                                                                    Rene STEICHEN
                                                              Member of the Commission
 ---pagebreak--- No L 256/ 18                     Official Journal of the European Communities                                14. 10 . 93
                                                       ANNEX I
                                             Agricultural conversion rates
                                      ECU 1 =       49,3070     Belgian and
                                                                Luxembourg francs
                                                     9,34812    Danish kroner
                                                     2,35418    German marks
                                                   328,567      Greek drachmas
                                                   190,382      Spanish pesetas
                                                     7,98191    French francs
                                                     0,976426   Irish punt
                                                 2 222,98       Italian lire
                                                     2,65256    Dutch guilders
                                                   236,933      Portuguese escudos
                                                     0,920969   Pound sterling
                                                      ANNEX II
                           Agricultural conversion rates fixed in advance and adjusted
                             Table A                                                 Table B
           ECU 1 —    47,4106     Belgian arid                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
                     315,930      Greek drachmas                             342,257      Greek drachmas
                     183,060      Spanish pesetas                            198,315      Spanish pesetas
                       7,67491    French francs                                8,31449    French francs
                       0,938871   Irish punt                                   1,01711    Irish punt
                   2 137,48       Italian lire                             2 315,60       Italian lire
                       2,55054 Dutch guilders                                  2,76308 Dutch guilders
                     227,820      Portuguese escudos                         246,805      Portuguese escudos
                       0,885547 Pound sterling                                 0,959343 Pound sterling