CELEX: 31996R2145
Language: en
Date: 1996-11-07 00:00:00
Title: COMMISSION REGULATION (EC) No 2145/96 of 7 November 1996 fixing the agricultural conversion rates

No L 286/ 14       [ EN                 Official Journal of the European Communities                                  8 . 11 . 96
                                      COMMISSION REGULATION (EC) No 2145 /96
                                                     of 7 November 1996
                                         fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       operative event applicable for the amount concerned
                                                                  exceeds four points; whereas, in that event, the agricul­
 Having regard to the Treaty establishing the European            tural conversion rate fixed in advance is brought more
Community,                                                        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
of 28 December 1992 on the unit of account and the                replaces the agricultural conversion rate fixed in advance
                                                                  should be specified;
conversion rates to be applied for the purposes of the
common agricultural policy ('), as last amended by Regu­          Whereas the measures provided for in this Regulation are
lation (EC) No 150/95 (2), and in particular Articles 3 (2)       in accordance with the opinion of the Management
and 12 thereof,                                                   Committee concerned,
Whereas the agricultural conversion rates were fixed by           HAS ADOPTED THIS REGULATION :
Commission Regulation (EC) No 21 12/96 (3);
                                                                                            Article 1
Whereas Article 4 of Regulation (EEC) No 3813/92
provides that, subject to confirmation periods being trig­        The agricultural conversion rates are fixed in Annex I
gered, the agricultural conversion rate for a currency is to      hereto .
be adjusted where the monetary gap between it and the
representative market rate exceeds certain levels;                                          Article 2
Whereas monetary gaps were in excess of five points on            In the case referred to in Article 15 (2) of Regulation
several occasions during the month of September for the           (EEC) No 1068 /93, the agricultural conversion rate fixed
 Irish punt;                                                      in advance shall be replaced by the ecu rate for the
                                                                  currency concerned, shown in Annex II:
Whereas under these conditions it is appropriate to               — Table A, where the latter rate is higher than the rate
reduce rapidly the monetary gaps recorded in relation to              fixed in advance,
representative market rates; whereas a new agricultural
conversion rate should be fixed for the Irish punt on the         — Table B, where the latter rate is lower than the rate
                                                                      fixed in advance .
basis of a marked reduction within the meaning of Article
 1 of Regulation (EEC) No 3813/92;
                                                                                            Article 3
Whereas Article 15 (2) of Commission Regulation (EEC)
No 1068/93 of 30 April 1993 on detailed rules for deter­
                                                                  Regulation (EC) No 2112/96 is hereby repealed .
mining and applying the agricultural conversion rates (4),                                  Article 4
as last amended by Regulation (EC) No 1482/96 (■*),
provides that an agricultural conversion rate fixed in            This Regulation shall enter into force on the day of its
advance is to be adjusted in the gap between that rate and        publication in the Official Journal of the European
the agricultural conversion rate in force at the time of the      Communities.
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States .
                 Done at Brussels, 7 November 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 .
 1 OJ No L 282, 1 . 11 . 1996, p. 62.
(4) OJ No L 108 , 1 . 5. 1993, p. 106.
(s) OJ No L 188 , 27. 7. 1996, p. 22.
 ---pagebreak--- 8 . 11 . 96       EN                 Official Journal of the European Communities                                 No L 286/ 15
                                                             ANNEX I
                                                 Agricultural conversion rates
                                     ECU 1 =          39,6411    Belgian and
                                                                 Luxembourg francs
                                                       7,49997   Danish kroner
                                                       1,92441   German marks
                                                     311,761     Greek drachmas
                                                     198,202     Portuguese escudos
                                                       6,61023   French francs
                                                       6,02811   Finnish marks
                                                       2,15852   Dutch guilders
                                                       0,812908  Irish punt
                                                   1 973,93      Italian lire
                                                      13,5396    Austrian schillings
                                                     165,198     Spanish pesetas
                                                       8,64446   Swedish kroner
                                                       0,809915  Pound sterling
                                                            ANNEX II
                             Agricultural conversion rates fixed in advance and adjusted
                                Table A                                                  Table B
            ECU 1 =     38,1164       Belgian and                 ECU 1 =        41,2928      Belgian and
                                      Luxembourg francs                                       Luxembourg francs
                         7,21151      Danish kroner                               7,81247     Danish kroner
                         1,85039      German marks                                2,00459     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
                         2,07550      Dutch guilders                              2,24846     Dutch guilders
                         0,781642     Irish punt                                  0,846779    Irish punt
                     1 898,01         Italian lire                            2 056,18        Italian lire
                        13,0188       Austrian schillings                        14,1038      Austrian schillings
                       158,844        Spanish pesetas                           172,081       Spanish pesetas
                         8,31198      Swedish kroner                              9,00465     Swedish kroner
                         0,778764     Pound sterling                              0,843661    Pound sterling