CELEX: 31996R1086
Language: en
Date: 1996-06-14 00:00:00
Title: COMMISSION REGULATION (EC) No 1086/96 of 14 June 1996 fixing the agricultural conversion rates

No L 142/36         EN                Official Journal of the European Communities                                  15. 6 . 96
                                       COMMISSION REGULATION (EC) No 1086/96
                                                        of 14 June 1996
                                          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
  Having regard to Council Regulation (EEC) No 3813/92              exceeds four points; whereas, in that event, the agricul­
  of 28 December 1992 on the unit of account and the
                                                                    tural conversion rate fixed in advance is brought more
  conversion rates to be applied for the purposes of the           closely into line with the rate in force, up to the level of a
  common agricultural policy ('), as last amended by Regu­         gap of four points with that rate; whereas the rate which
  lation (EC) No 150/95 (2), and in particular Article 3 ( 1 )     replaces the agricultural conversion rate fixed in advance
  thereof,                                                         should be specified,
 Whereas the agricultural conversion rates were fixed by
 Commission Regulation (EC) No 1025/96 (3);                        HAS ADOPTED THIS REGULATION:
 Whereas Article 4 of Regulation (EEC) No 3813/92                                            Article 1
 provides that, subject to confirmation periods being trig­
 gered, the agricultural conversion rate for a currency is to      The agricultural conversion rates are fixed in Annex I
 be adjusted where the monetary gap between it and the             hereto .
 representative market rate exceeds certain levels;
                                                                                             Article 2
 Whereas the representative market rates are determined
 on the basis of basic reference periods or, where applic­         In the case referred to in Article 15 (3) of Regulation
 able, confirmation periods, established in accordance with        (EEC) No 1068 /93, the agricultural conversion rate fixed
 Article 2 of 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 (4), as last
 amended by Regulation (EC) No 2853/95 (*); whereas                — Table A, where the latter rate is higher than the rate
 paragraph 2 of that Article provides that, in cases where              fixed in advance,
 the absolute value of the difference between the monetary         — Table B, where the latter rate is lower than the rate
 gaps in two Member States, calculated from the average of              fixed in advance .
 the ecu rates for three consecutive quotation days, exceeds
 six points, the representative market rates are to be                                       Article 3
 adjusted on the basis of the three quotation days in ques­
 tion ;                                                            Regulation (EC) No 1025/96 is hereby repealed.
 Whereas, as a consequence of the exchange rates recorded                                    Article 4
 from 7 to 16 June 1996, it is necessary to fix a new agri­
 cultural conversion rate for the pound sterling;                 This Regulation shall enter into force on 17 June 1996.
                  This Regulation shall be binding in its entirety and directly applicable in all Member
                  States .
                  Done at Brussels, 14 June 1996.
                                                                             For the Commission
                                                                                Franz FISCHLER
                                                                         Member of the Commission
(') OJ  No L 387, 31 . 12. 1992, p. 1 .
(2) OJ  No L 22, 31 . 1 . 1995, p. 1 .
(3) OJ  No L 136, 7. 6. 1996, p. 22.
(4) OJ  No L 108, 1 . 5. 1993, p. 106.
 5  OJ  No L 299, 12. 12. 1995, p. 1 .
 ---pagebreak--- 15. 6 . 96       EN                Official Journal of the European Communities                                 No L 142/37
                                                           ANNEX I
                                               Agricultural conversion rates
                                   ECU 1            39,5239    Belgian and
                                                               Luxembourg francs
                                                     7,49997   Danish kroner
                                                     1,91449   German marks
                                                   311,761     Greek drachmas
                                                   198,202     Portuguese escudos
                                                     6,61023   French francs
                                                     6,02811   Finnish marks
                                                     2,14272   Dutch guilders
                                                     0,829498  Irish punt
                                                 2 030,40      Italian lire
                                                    13,4713   Austrian schillings
                                                   165,198    Spanish pesetas
                                                     8,93762  Swedish kroner
                                                     0,833821  Pound sterling
                                                          ANNEX II
                            Agricultural conversion rates fixed in advance and adjusted
                              Table A                                                  Table B
           ECU 1 =     38,0038      Belgian and                 ECU 1 -        41,1707      Belgian and
                                    Luxembourg francs                                       Luxembourg francs
                        7,21151     Danish kroner                               7,81247     Danish kroner
                        1,84086     German marks                                1 ,99426    German marks
                      299,770       Greek drachmas                            324,751       Greek drachmas
                      190,579       Portuguese escudos                        206,460       Portuguese escudos
                        6,35599     French francs                               6,88566     French francs
                        5,79626     Finnish marks                               6,27928     Finnish marks
                        2,06031     Dutch guilders                              2,23200     Dutch guilders
                        0,797594    Irish punt                                  0,864060    Irish punt
                    1 952,31        Italian lire                            2 115,00        Italian lire
                       12,9532      Austrian schillings                        14,0326      Austrian schillings
                      158,844       Spanish pesetas                           172,081       Spanish pesetas
                        8,59387     Swedish kroner                              9,31002     Swedish kroner
                        0,801751    Pound sterling                              0,868564    Pound sterling