CELEX: 31995R0205
Language: en
Date: 1995-01-31 00:00:00
Title: COMMISSION REGULATION (EC) No 205/95 of 31 January 1995 fixing the agricultural conversion rates

No L 24/ 130                           Official Journal of the European Communities                                    1 . 2 . 95
                                       COMMISSION REGULATION (EC) No 205/95
                                                       of 31 January 1995
                                         fixing the agricultural conversion rates
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       whereas Article 15 (2) of Regulation (EEC) No 1068/93
                                                                   provides that an agricultural conversion rate fixed in
 Having regard to the Treaty establishing the European             advance is to be adjusted if the gap between that rate and
 Community,                                                        the agricultural conversion rate in force at the time of the
                                                                   operative event applicable for the amount concerned
                                                                   exceeds four points ; whereas, in that event, the agricul­
 Having regard to Council Regulation (EEC) No 3813/92              tural conversion rate fixed in advance is brought more
 of 28 December 1992 on the unit of account and the                closely into line with the rate in force, up to the level of a
 conversion rates to be applied for the purposes of the            gap of four points with that rate ; whereas the rate which
 common agricultural policy ('), as amended by Regulation          replaces the agricultural conversion rate fixed in advance
(EC) No 150/95 (2), and in particular Article 3 (1 ) thereof,      should be specified ;
 Having regard to Commission Regulation (EC) No 157/95             Whereas the ecu rates which, where applicable, replace
 of 31 January 1995 laying down transitional measures for          the agricultural conversion rates fixed in advance before 1
 the abolition of the correcting factor applicable to the          February 1995 are multiplied by the correcting factor
 conversion rates used in the agricultural sector (3), and in      1,207509,
 particular Article 2 (2) thereof,
Whereas the agricultural conversion rates were fixed by
 Commission Regulation (EC) No 92/95 (4),                          HAS ADOPTED THIS REGULATION :
Whereas Article 4 of Regulation (EEC) No 3813/92
 provides that, subject to confirmation periods being trig­                                  Article 1
gered, the agricultural conversion rate for a currency is to
be adjusted where the monetary gap between it and the              The agricultural conversion rates are fixed in Annex 1
representative market rate exceeds certain levels ;                hereto.
Whereas the representative market rates are determined
on the basis of basic reference periods or, where appli­                                    Article 2
cable, confirmation periods, established in accordance
with Article 2 of Commission Regulation (EEC) No                   1 . In the case referred to in Article 15 (2) of Regulation
 1068/93 of 30 April 1993 on detailed rules for determi­           (EEC) No 1068/93, the agricultural conversion rate fixed
ning and applying the agricultural conversion rates 0, as          in advance shall be replaced by the ecu rate for the
last amended by Regulation (EC) No 1 57/95 ; whereas               currency concerned, shown in Annex II :
subparagraph 2 of that Article provides that, in cases
where the absolute value of the difference between the             — Table A, where the latter rate is higher than the rate
monetary gaps in two Member States, calculated from the                 fixed in advance,
average of the ecu rates for three consecutive quotation
days, exceeds six points, the representative market rates          — Table B, where the latter rate is lower than the rate
are to be adjusted on the basis of the three quotation days             fixed in advance .
in question ;
                                                                   2. However, in the case of agricultural conversion rates
Whereas, as a consequence of the exchange rates recorded           fixed in advance before 1 February 1995, the ecu rates
during the reference period 21 to 31 January 1995, it is           listed in Annex II shall be replaced by those set out in
                                                                   Annex III.
necessary to fix a new agricultural conversion rate for the
Spanish peseta and the Swedish krone ;
                                                                                            Article 3
Whereas Article 3 (1 ) of Regulation (EEC) No 3813/92
abolishes application of the correcting factor of 1,207509
from 1 February 1995 ;                                             Regulation (EC) No 92/95 is hereby repealed
(') OJ  No L 387, 31 . 12. 1992, p. 1 .
(2) OJ  No L 22, 31 . 1 . 1995, p. 1 .                                                      Article 4
(3) See page 1 of this Official Journal
(<) OJ  No L 15, 21 . 1 . 1995, p. 5.
I5) OJ No L 108, 1 . 5. 1993, p. 106.                              This Regulation shall enter into force on 1 February 1995
 ---pagebreak--- 1 . 2. 95                          Official Journal of the European Communities                                  No L 24/ 131
            This Regulation shall be binding in its entirety and directly applicable in all Member
            States .
            Done at Brussels, 31 January 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
                                                    293,676    Greek drachmas
                                                    198,202    Portuguese escudos
                                                      6,61023  French francs
                                                      5,88000  Finnish marks
                                                      2,19672  Dutch guilders
                                                      0,808628 Irish punt
                                                  1 992,69     Italian lire
                                                     13,7190   Austrian schillings
                                                    163,980    Spanish pesetas
                                                     9,29426   Swedish kroner
                                                      0,789704 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
                       282,381      Greek drachmas                             305,913       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
                         2,11223     Dutch guilders                              2,28825     Dutch guilders
                         0,777527    Irish punt                                  0,842321    Irish punt
                     1 916,05        Italian lire                            2 075,72        Italian lire
                        13,1913     Austrian schillings                         14,2906      Austrian schillings
                       157,673       Spanish pesetas                           170,813       Spanish pesetas
                        8,93679      Swedish kroner                             9,68152      Swedish kroner
                         0,759331    Pound sterling                              0,822608    Pound sterling
 ---pagebreak--- No L 24/ 132                        Official Journal of the European Communities                           i 1 9 «;
                                                        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
                       340,978      Greek drachmas                        369,393      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
                         0,938871   Irish punt                              1,01711    Irish punt
                     2 313,65       Italian lire                        2 506,45       Italian lire
                        15,9286     Austrian schillings                    17,2560     Austrian schillings
                       190,392      Spanish pesetas                       206,258      Spanish pesetas
                        10,7913     Swedish kroner                         11,6905     Swedish kroner
                         0,9168 99  Pound sterling                          0,993307   Pound sterling