CELEX: 31995R0328
Language: en
Date: 1995-02-16 00:00:00
Title: COMMISSION REGULATION (EC) No 328/95 of 16 February 1995 fixing the agricultural conversion rates

No L 37/30          | EN 1              Official Journal of the European Communities                                  17. 2. 95
                                         COMMISSION REGULATION (EC) No 328/95
                                                       of 16 February 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
                                                                    advance is to be adjusted if the gap between that rate and
  Having regard to the Treaty establishing the European             the agricultural conversion rate in force at the time of the
  Community,                                                        operative event applicable for the amount concerned
                                                                    exceeds four points ; whereas, in that event, the agricul­
                                                                    tural conversion rate fixed in advance is brought more
  Having regard to Council Regulation (EEC) No 3813/92              closely into line with the rate in force, up to the level of a
  of 28 December 1992 on the unit of account and the
                                                                    gap of four points with that rate ; whereas the rate which
 conversion rates to be applied for the purposes of the             replaces the agricultural conversion rate fixed in advance
 common agricultural policy ('), as last amended by Regu­           should be specified,
 lation (EC) No 1 50/95 (2), and in particular Article 3 (1 )
 thereof,
 Having regard to Commission Regulation (EC) No 1 57/95             HAS ADOPTED THIS REGULATION :
 of 31 January 1995 laying down transitional measures for
 the abolition of the correcting factor applicable to the
 conversion rates used in the agricultural sector (3), and in
 particular Article 2 (2) thereof,                                                           Article 1
 Whereas the agricultural conversion rates were fixed by            The agricultural conversion rates are fixed in Annex I
 Commission Regulation (EC) No 278/95 (4),                          hereto.
 Whereas Article 4 of Regulation (EEC) No 3813/92
 provides that, subject to confirmation periods being trig­                                  Article 2
 gered, the agricultural conversion rate for a currency is to
 be adjusted where the monetary gap between it and the              1 . In the case referred to in Article 15 (2) of Regulation
 representative market rate exceeds certain levels ;                (EEC) No 1068/93, the agricultural conversion rate fixed
                                                                    in advance shall be replaced by the ecu rate for the
                                                                    currency concerned, shown in Annex II :
 Whereas the representative market rates are determined
 on the basis of basic reference periods or, where appli­           — Table A, where the latter rate is higher than the rate
 cable, confirmation periods, established in accordance                  fixed in advance,
with Article 2 of Commission Regulation (EEC) No
 1068/93 of 30 April 1993 on detailed rules for determi­            — Table B, where the latter rate is lower than the rate
 ning and applying the agricultural conversion rates (*), as             fixed in advance.
 last amended by Regulation (EC) No 1 57/95 ; whereas
subparagraph 2 of that Article provides that, in cases
where the absolute value of the difference between the              2. However, in the case of agricultural conversion rates
 monetary gaps in two Member States, calculated from the            fixed in advance before 1 February 1995, the ecu rates
average of the ecu rates for three consecutive quotation            listed in Annex II shall be replaced by those set out in
                                                                    Annex III.
days, exceeds six points, the representative market rates
are to be adjusted on the basis of the three quotation days
in question ;
                                                                                             Article 3
Whereas, as a consequence of the exchange rates recorded
during the reference period 14 to 16 February 1995, it is           Regulation (EC) No 278/95 is hereby repealed.
necessary to fix a new agricultural conversion rate for the
Greek drachma, the Italian lira and the pound Sterling ;
                                                                                             Article 4
(') OJ No   L 387, 31 . 12. 1992, p. 1 .
O   OJ No   L 22, 31 . 1 . 1995, p. 1 .
(3) OJ No   L 24, 1 . 2. 1995, p. 1 .
(4) OJ No   L 32, 11 . 2. 1995, p. 15.                             This Regulation shall enter into force on 17 February
O   OJ No   L 108, 1 . 5. 1993, p. 106.                             1995.
 ---pagebreak--- 17. 2. 95     I EN I              Official Journal of the European Communities                                 No L 37/31
            This Regulation shall be binding in its entirety and directly applicable in all Member
            States.
            Done at Brussels, 16 February 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
                                                  296,053    Greek drachmas
                                                  198,202    Portuguese escudos
                                                    6,61023  French francs
                                                    5,88000  Finnish marks
                                                    2,19672  Dutch guilders
                                                    0,808628 Irish punt
                                                2 011,57     Italian lire
                                                   13,7190   Austrian schillings
                                                  163,980    Spanish pesetas
                                                   9,29426   Swedish kroner
                                                    0,799794 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
                      284,666      Greek drachmas                            308,389       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
                    1 934,20       Italian lire                            2 095,39        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
                        0,769033   Pound sterling                              0,833119    Pound sterling
 ---pagebreak--- No L 37/32       EN                  Official Journal of the European Communities                            17. 2. 95
                                                         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
                       343,737       Greek drachmas                        372,382       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
                     2 335,56        Italian lire                        2 530,20        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
                         0,928614    Pound sterling                          1,00600     Pound sterling