CELEX: 31993R2102
Language: en
Date: 1993-07-30 00:00:00
Title: Commission Regulation (EEC) No 2102/93 of 29 July 1993 fixing the agricultural conversion rates

No L 190 / 50                            Official Journal of the European Communities                                  30 . 7. 93
                                    COMMISSION REGULATION (EEC) No 2102/93
                                                         of 29 July 1993
                                           fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        Whereas, as a consequence of the exchange rates recorded
                                                                   during the reference period 27 to 29 July 1993, it is
                                                                   necessary to fix a new agricultural conversion rate for the
Having regard to the Treaty establishing the European              Spanish peseta and the Portuguese escudo ;
Economic Community,
                                                                   Whereas Article 15 (3) of Regulation (EEC) No 1068/93
                                                                   provides that an agricultural conversion rate fixed in
Having regard to Council Regulation (EEC) No 3813/92               advance shall be adjusted if the gap between that rate and
of 28 December 1992 on the unit of account and the                  the agricultural conversion rate in force at the time of the
conversion rates to be applied for the purposes of the             operative event applicable for the currency concerned
common agricultural policy ('), and in particular Article 3         exceeds four points ; whereas, in that event, the agricul­
( 1 ) thereof,                                                      tural conversion rate fixed in advance is brought 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
Whereas the agricultural conversion rates were fixed by             replaces the agricultural conversion rate fixed in advance
Commission Regulation (EEC) No 2010/93 (2) ;                        should be specified,
Whereas Article 4 (3) of Regulation (EEC) No 3813/92
stipulates that if, over a reference period, the absolute
value of the difference in the gaps between the currencies          HAS ADOPTED THIS REGULATION :
of any two Member States exceeds four points, any mone­
tary gaps for the Member States concerned that exceed
two points shall immediately be reduced to two points ;
whereas, in Article 1 (f) of Regulation (EEC) No 3813/92,                                     Article 1
the- term 'monetary gap' is defined as the percentage of
the agricultural conversion rate representing the                   The agricultural conversion rates are fixed in Annex I
difference between that rate and the representative market          hereto.
rate ;
Whereas the representative market rates are determined                                        Article 2
on the basis of reference periods established in accord­
ance with Commission Regulation (EEC) No 1068/93 of                 In the case referred to in Article 15 (3) of Regulation
30 April 1993 on detailed rules for determining and                 (EEC) No 1068/93, the agricultural conversion rate fixed
applying the agricultural conversion rates (3) ;                    in advance shall be replaced by the ecu rate for the
                                                                    currency concerned, shown in Annex II :
Whereas, however, Article 2 of Regulation (EEC)                     — Table A, where the latter rate is higher than the rate
No 1068/93 provides that, in cases where the absolute                   fixed in advance,
value of the difference between the monetary gaps in two
                                                                        or
Member States, calculated from the average on the ecu
rates for three consecutive working days, exceeds six               — Table B, where the latter rate is lower than the rate
points :                                                                fixed in advance .
— the representative market rates for the currencies in
      question shall be adjusted on the basis of the three                                    Article 3
      working days in question,
      and
                                                                     Regulation (EEC) No 2010/93 is hereby repealed.
— the basic reference period concerned begins the day
      following these three working days ;
                                                                                              Article 4
(•) UJ INO L 38 /, 31 . 12. 1 WL, p. 1 .
(2) OJ No L 182, 24. 7. 1993, p. 48.
O OJ No L 108 , 1 . 5 . 1993, p. 106.                                This Regulation shall enter into force on 30 July 1993.
 ---pagebreak--- 30. 7 . 93                          Official Journal of the European Communities                                No L 190/ 51
             This Regulation shall be binding in its entirety and directly applicable in all Member
             States .
             Done at Brussels, 29 July 1993 .
                                                                             For the Commission
                                                                                Rene STEICHEN
                                                                         Member of the Commission
                                                          ANNEX I
                                                Agricultural conversion rates
                                         ECU 1 =       48,5563     Belgian and
                                                                   Luxembourg francs
                                                        8,97989    Danish kroner
                                                        2,35418    German marks
                                                      319,060      Greek drachmas
                                                      186,835      Spanish pesetas
                                                        7,89563    French francs
                                                        0,976426   Irish punt
                                                    2 166,58       Italian lire
                                                        2,65256 Dutch guilders
                                                      233,112      Portuguese escudos
                                                        0,930787 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
                        306,788      Greek drachmas                             332,354      Greek drachmas
                        179,649      Spanish pesetas                            194,620      Spanish pesetas
                          7,59195    French francs                                8,22461    French francs
                          0,938871   Irish punt                                   1,01711    Irish punt
                      2 083,25       Italian lire                             2 256,85       Italian lire
                          2,55054    Dutch guilders                               2,76308    Dutch guilders
                        224,146      Portuguese escudos                         242,825      Portuguese escudos
                          0,894988 Pound sterling                                 0,969570 Pound sterling