CELEX: 31996R0640
Language: en
Date: 1996-04-10 00:00:00
Title: COMMISSION REGULATION (EC) No 640/96 of 10 April 1996 fixing the agricultural conversion rates

11 . 4 . 96             EN                 Official Journal of the European Communities                               No L 90 /25
                                            COMMISSION REGULATION (EC) No 640/96
                                                            of 10 April 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
 of 28 December 1992 on the unit of account and the
                                                                       tural conversion rate fixed in advance is brought more
                                                                       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 150/95 (2), and in particular Article 3 ( 1 )          should be specified,
 thereof,
 Whereas the agricultural conversion rates were fixed by
 Commission Regulation (EC) No 575/96 (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
 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
 mining and applying the agricultural conversion rates (4),            in advance shall be replaced by the ecu rate for the
 as last amended by Regulation (EC) No 2853/95 (*);                    currency concerned, shown in Annex II:
 whereas paragraph 2 of that Article provides that, in cases           — Table A, where the latter fate 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 3
 Whereas, as a consequence of the exchange rates recorded              Regulation (EC) No 575/96 is hereby repealed.
 from 1 to 10 April 1996, it is necessary to fix a new agri­
 cultural conversion rate for the Finnish markka;
                                                                                                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 11 April 1996.
                     This Regulation shall be binding in its entirety and directly applicable in all Member
                     States.
                     Done at Brussels, 10 April 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 .
0   OJ    No  L 80 , 30 . 3 . 1996, p. 58 .
(4) OJ    No  L 108 , 1 . 5. 1993, p. 106.
n   OJ    No  L 299, 12. 12. 1995, p. 1 .
 ---pagebreak--- No L 90/26     | EN I               Official Journal of the European Communities                                 11 . 4. 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
                                                      5,91413   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
                        5,68666      Finnish marks                               6,16055     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