CELEX: 31993R0219
Language: en
Date: 1993-02-03 00:00:00
Title: Commission Regulation (EEC) No 219/93 of 2 February 1993 fixing the agricultural conversion rates and other consequences of the currency realignment of 30 January 1993 and amending Regulation (EEC) No 204/93

3 . 2. 93                               Official Journal of the European Communities                              No L 26/ 13
                                    COMMISSION REGULATION (EEC) No 219/93
                                                      of 2 February 1993
                  fixing the agricultural conversion rates and other consequences of the currency
                   realignment of 30 January 1993 and amending Regulation (EEC) No 204/93
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        and the agricultural conversion rate in force at the time of
                                                                   the operative event for the amount concerned exceeds
                                                                    four points ; whereas in this case the agricultural conver­
Having regard to the Treaty establishing the European              sion rate fixed in advance is to be adjusted to bring it
Economic Community,                                                more 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 replaces the agricultural conversion rate fixed
Having regard to Council Regulation (EEC) No 3813/92               in advance should be specified ;
of 28 December 1992 on the unit of account and the
conversion rates to be applied for the purposes of the
common agricultural policy ('), and in particular Article 1        Whereas the basic reference period referred to in Article 2
(c) and (d), Article 3 (1 ) and Article 12 thereof,                (1 ) of Regulation (EEC) No 3819/92 should be adjusted to
                                                                   take account of the fixing of agricultural conversion rates
                                                                   following the currency realignment of 30 January 1993 ;
Whereas the second indent of Article 1 (c) of Regulation
(EEC) No 3813/92 provides that the correcting factor is to         Whereas Commission Regulation (EEC) No 204/93 (4)
be altered whenever realignment takes place within the             suspends the fixing in advance of the agricultural conve­
European Monetary System, in line with the highest reva­           resion rate for the Irish punt for applications submitted
luation of the central rate of the fixed currencies against        from 1 to 3 February 1993 ; whereas this fixing in
the ecu ; whereas, in respect of the realignment of                advance may be reintroduced on the basis of the agricul­
30 January 1993, the alteration of the correcting factor is        tural conversion rates laid down in this Regulation ;
based on a revaluation of 0,87 % ;
                                                                   Whereas the measures provided for in this Regulation are
                                                                   in accordance with the opinion of the Management
Whereas the agricultural conversion rates have been laid           Committees concerned,
down by Commission Regulation (EEC) No 182/93 (2) ;
Whereas pursuant to Artricle 4 (2) of Regulation (EEC)
                                                                   HAS ADOPTED THIS REGULATION :
No 3813/92, it is necessary to adjust immediately the
agricultural conversion rate for the Irish punt for which
the currency realignment of 30 January 1993 entails a
monetary gap greater than four points, and to allow only a                                  Article 1
gap less than or equal to two points to continue to exist ;
whereas that paragraph provides that, in the event of              The correcting factor referred to in Article 1 (c) of Regula­
currency realignment, the agricultural conversion rate for         tion (EEC) No 3813/92 is hereby fixed at 1,205454.
a floating currency is to be adjusted where the monetary
gap in relation to the representative market rate for the
last reference period exceeds two points ; whereas, in that                                 Article 2
case, the new agricultural conversion rate is to be fixed so
as to reduce that monetary gap by half ;
                                                                   The agricultural conversion rates are fixed in Annex I.
Whereas, as a consequence of the exchange rates recorded
during the reference period from 1 to 2 February 1993, it                                   Article 3
is necessary to fix a new agricultural conversion rate for
the Italian lira and the pound sterling ;                          In the case referred to in Article 11 (2) of Regulation
                                                                   (EEC) No 3819/92, the agricultural conversion rate fixed
                                                                   in advance shall be replaced by the ecu rate for the
Whereas Article 1 1 (2) of Commission Regulation (EEC)             currency concerned, listed in Annex II :
No 3819/92 of 28 December 1992 on detailed rules for
determining and applying the agricultural conversion               — Table A, where the latter rate is higher than the rate
rates (3) provides that an agricultural conversion rate fixed           fixed in advance, or
in advance is to be adjusted if the gap between that rate
                                                                   — Table B, where the latter rate is lower than the rate
                                                                        fixed in advance.
 (') OJ No L 387, 31 . 12. 1992, p. 1 .
  2) OJ No L 22, 30. 1 . 1993, p. 56.
 (3) OJ No L 387, 31 . 12. 1992, p. 17.                            O OJ No L 24, 1 . 2. 1993, p. 1 .
 ---pagebreak--- No L 26/ 14                         Official Journal of the European Communities                                 3 . 2. 93
                        Article 4                                                      Article 6
The basic reference period referred to in Article 2 (1 ) of
Regulation (EEC) No 3819/92, expiring on 10 February           Regulation (EEC) No 182/93 is hereby repealed.
 1993, shall commence on 3 February 1993.
                        Article 5                                                      Article 7
'1 to 3 February 1993' in Article 1 of Regulation (EEC)
No 204/93 is replaced by '1 to 2 February 1993',               This Regulation shall enter into force on 3 February 1993.
                This Regulation shall be binding in its entirety and directly applicable in all Member
                States.
                Done at Brussels, 2 February 1993.
                                                                        For the Commission
                                                                          Rene STEICHEN
                                                                    Member of the Commission
 ---pagebreak--- 3. 2. 93                        Official Journal of the European Communities                               No L 26/ 15
                                                      ANNEX I
                                            Agricultural conversion rates
                                     ECU 1    -    48,5563    Belgian and
                                                               Luxembourg francs
                                                    8,97989   Danish kroner
                                                    2,35418   German marks
                                                  310,351     Greek drachmas
                                                  166,075     Spanish pesetas
                                                    7,89563   French francs
                                                    0,957268  Irish punt
                                                2156,72       Italian lire
                                                    2,65256   Dutch guilders
                                                  209,523     Portuguese escudos
                                                    0,968391  Pound sterling
                                                     ANNEX II
                         Agricultural conversion rates fixed in advance and adjusted
                            Table A                                                Table B
         ECU 1 —    46,6888      Belgian and                 ECU 1 =        50,5795     Belgian and
                                  Luxembourg francs                                      Luxembourg francs
                     8,63451     Danish kroner                               9,35405    Danish kroner
                     2,26363     German marks                                2,45227    German marks
                   298,414       Greek drachmas                            323,282      Greek drachmas
                   159,688       Spanish pesetas                           172,995      Spanish pesetas
                     7,59195     French francs                               8,22461    French francs
                     0,920450 Irish punt                                     0,997154 Irish punt
                 2 073,77        Italian lire                            2 246,58       Italian lire
                     2,55054 Dutch guilders                                  2,76308    Dutch guilders
                   201,464       Portuguese escudos                        218,253      Portuguese escudos
                     0,931 145 Pound sterling                                1,00874    Pound sterling