CELEX: 31996R1895
Language: en
Date: 1996-09-30 00:00:00
Title: COMMISSION REGULATION (EC) No 1895/96 of 30 September 1996 fixing the agricultural conversion rates

1 . 10 . 96             EN               Official Journal of the European Communities                              No L 249 /41
                                          COMMISSION REGULATION (EC) No 1895/96
                                                        of 30 September 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
  Having regard to Council Regulation (EEC) No 3813/92                 operative event applicable for the amount concerned
  of 28 December 1992 on the unit of account and the                   exceeds four points; whereas, in that event, the agricul­
  conversion rates to be applied for the purposes of the               tural conversion rate fixed in advance is brought more
  common agricultural policy ('), as last amended by Regu­            closely into line with the rate in force, up to the level of a
  lation (EC) No 150/95 (2), and in particular Article 3 ( 1 )        gap of four points with that rate; whereas the rate which
  thereof,                                                            replaces the agricultural conversion rate fixed in advance
                                                                      should be specified,
 Whereas the agricultural conversion rates were fixed by
  Commission Regulation (EC) No 1304/96 (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
 representative market rate exceeds certain levels;                   hereto .
 Whereas the representative market rates are determined                                         Article 2
 on the basis of basic reference periods or, where applic­
 able, confirmation periods, established in accordance with           In the case referred to in Article 15 (3) of Regulation
 Article 2 of Commission Regulation (EEC) No 1068/93 of              (EEC) No 1068 /93, the agricultural conversion rate fixed
 30 April 1993 on detailed rules for determining and                  in advance shall be replaced by the ecu rate for the
 applying the agricultural conversion rates (4), as last              currency concerned, shown in Annex II :
 amended by Regulation (EC) No 1482/96 (^ whereas
 paragraph 2 of that Article provides that, in cases where           — Table A, where the latter rate is higher than the rate
                                                                           fixed in advance,
 the absolute value of the difference between the monetary
 gaps in two Member States, calculated from the average of           — Table B, where the latter rate is lower than the rate
 the ecu rates for three consecutive quotation days, exceeds               fixed in advance .
 six points, the representative market rates are to be
 adjusted on the basis of the three quotation days in ques­                                     Article 3
 tion ;
                                                                     Regulation (EC) No 1304/96 is hereby repealed.
 Whereas, as a consequence of the exchange rates recorded
 from 21 to 30 September 1996, it is necessary to fix a new                                     Article 4
 agricultural conversion rate for the Italian lira, the Dutch
 guilder and the German mark;                                        This Regulation shall enter into force on 1 October 1996 .
                     This Regulation shall be binding in its entirety and directly applicable in all Member
                     States .
                     Done at Brussels, 30 September 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 167, 6. 7. 1996, p. 11 .
(4)   OJ  No  L 108 , 1 . 5. 1993, p. 106.
(5)   OJ  No  L 188, 27. 7. 1996, p. 22.
 ---pagebreak--- No L 249 /42     EN                 Official Journal of the European Communities                                 1 . 10 . 96
                                                            ANNEX I
                                                Agricultural conversion rates
                                    ECU 1 =          39,5239    Belgian and
                                                                Luxembourg francs
                                                      7,49997   Danish kroner
                                                      1,91692   German marks
                                                    311,761     Greek drachmas
                                                    198,202     Portuguese escudos
                                                      6,61023   French francs
                                                      6,02811   Finnish marks
                                                      2,14989   Dutch guilders
                                                      0,829498  Irish punt
                                                  1 973,93      Italian lire
                                                     13,4875   Austrian schillings
                                                    165,198    Spanish pesetas
                                                      8,64446  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
                        1,84319      German marks                                1,99679     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
                        2,06720      Dutch guilders                              2,23947     Dutch guilders
                        0,797594     Irish punt                                  0,864060    Irish punt
                    1 898,01         Italian lire                            2 056,18        Italian lire
                       12,9688       Austrian schillings                        14,0495      Austrian schillings
                      158,844        Spanish pesetas                           172,081       Spanish pesetas
                        8,31198      Swedish kroner                              9,00465     Swedish kroner
                        0,801751     Pound sterling                              0,868564    Pound sterling