CELEX: 31996R0189
Language: en
Date: 1996-01-31
Title: COMMISSION REGULATION (EC) No 189/96 of 31 January 1996 fixing the agricultural conversion rates

1 . 2. 96              EN               Official Journal of the European Communities                               No L 25/55
                                         COMMISSION REGULATION (EC) No 189/96
                                                        of 31 January 1996
                                           fixing the agricultural conversion rates
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        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
 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 last amended by Regu­           replaces the agricultural conversion rate fixed in advance
 lation (EC) No 1 50/95 (2), and in particular Article 3 ( 1 )      should be specified,
 thereof,
 Whereas the agricultural conversion rates were fixed by
 Commission Regulation (EC) No 36/96 (3) ;                          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 I
                                                                    hereto.
 representative market rate exceeds certain levels ;
 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                   In the case referred to in Article 15 (3) of Regulation
 1068/93 of 30 April 1993 on detailed rules for deter­              (EEC) No 1068/93, the agricultural conversion rate fixed
                                                                    in advance shall be replaced by the ecu rate for the
 mining and applying the agricultural conversion rates (4),
                                                                    currency concerned, shown in Annex II :
 as last amended by Regulation (EC) No 2853/95 (*) ;
 whereas paragraph 2 of that Article provides that, in cases        — Table A, where the latter rate is higher than the rate
where the absolute value of the difference between the                  fixed in advance,
 monetary gaps in two Member States, calculated from the            — Table B, where the latter rate is lower than the rate
 average of the ecu rates for three consecutive quotation               fixed in advance .
 days, exceeds six points, the representative market rates
 are to be adjusted on the basis of the three quotation days
 in question ;                                                                                Article J
Whereas, as a consequence of the exchange rates recorded            Regulation (EC) No 36/96 is hereby repealed.
 from 21 to 31 January 1996, it is necessary to fix a new
 agricultural conversion rate for the Italian lira ;                                          Article 4
Whereas Article 15 (2) of Regulation (EEC) No 1068/93
 provides that an agricultural conversion rate fixed in             This Regulation shall enter into force on 1 February 1996.
                  This Regulation shall be binding in its entirety and directly applicable in all Member
                  States.
                  Done at Brussels, 31 January 1996.
                                                                              For the Commission
                                                                                Franz FISCHLER
                                                                         Member of the Commission
(')  OJ  No L 387, 31 . 12. 1992, p. 1 .
0    OJ  No L 22, 31 . 1 . 1995, p. 1 .
(3)  OJ  No L 8, 11 . 1 . 1996, p. 24.
(4)  OJ  No L 108, 1 . 5. 1993, p. 106.
Is) OJ No L 299, 12. 12. 1995, p. 1 .
 ---pagebreak--- No L 25/56     | EN I               Official Journal of the European Communities                                1 . 2. 96
                                                            ANNEX I
                                                Agricultural conversion rates
                                    ECU 1 =          39,5239    Belgian and
                                                                Luxembourg francs
                                                      7,49997   Danish kroner
                                                      1,90616   German marks
                                                    311,761     Greek drachmas
                                                    198,202     Portuguese escudos
                                                      6,61023   French francs
                                                      5,88000   Finnish marks
                                                      2,14021   Dutch guilders
                                                      0,829498  Irish punt
                                                  2 096,38     Italian lire
                                                     13,4084   Austrian schillings
                                                    165,198    Spanish pesetas
                                                      8,93762  Swedish kroner
                                                      0,856563 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
                        1,83285      German marks                               1,98558     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
                        5,65385      Finnish marks                              6,12500     Finnish marks
                        2,05789      Dutch guilders                             2,22939     Dutch guilders
                        0,797594     Irish punt                                 0,864060    Irish punt
                   2 015,75          Italian lire                           2 183,73        Italian lire
                       12,8927       Austrian schillings                       13,9671      Austrian schillings
                      158,844        Spanish pesetas                          172,081       Spanish pesetas
                        8,59387      Swedish kroner                             9,31002     Swedish kroner
                        0,823618     Pound sterling                             0,892253    Pound sterling