CELEX: 31996R1955
Language: en
Date: 1996-10-10 00:00:00
Title: COMMISSION REGULATION (EC) No 1955/96 of 10 October 1996 fixing the agricultural conversion rates

ii . io . 96        TEN                 Official Journal of the European Communities                              No L 258 / 17
                                          COMMISSION REGULATION (EC) No 1955/96
                                                         of 10 October 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 1 50/95 (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 1 895/96 (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        The agricultural conversion rates are fixed in Annex I
  be adjusted where the monetary gap between it and the               hereto.
  representative market rate exceeds certain levels;
 Whereas the representative market rates are determined                                         Article 2
 on the basis of basic reference periods or, where applic­            In the case referred to in Article 15 (3) of Regulation
 able, confirmation periods, established in accordance with          (EEC) No 1068/93, the agricultural conversion rate fixed
 Article 2 of Commission Regulation (EEC) No 1068/93 of               in advance shall be replaced by the ecu rate for the
 30 ApriJ 1993 on detailed rules for determining and                 currency concerned, shown in Annex II:
 applying the agricultural conversion rates (4), as last
 amended by Regulation (EC) No 1482/96 Q; whereas                    — Table A, where the latter rate is higher than the rate
 paragraph 2 of that Article provides that, in cases where                fixed in advance,
 the absolute value of the difference between the monetary           — Table B, where the latter rate is lower than the rate
 gaps in two Member States, calculated from the average of                fixed in advance .
 the ecu rates for three consecutive quotation days, exceeds
 six points, the representative market rates are to be                                          Article 3
 adjusted on the basis of the three quotation days in ques­
 tion;                                                               Regulation (EC) No 1895/96 is hereby repealed.
 Whereas, as a consequence of the exchange rates recorded                                       Article 4
 from 1 to 10 October 1996, it is necessary to fix a new
 agricultural conversion rate for the Austrian schilling, the        This Regulation shall enter into force on 11 October
 Dutch guilder, the German mark and the Belgian franc;               1996 .
                    This Regulation shall be binding in its entirety and directly applicable in all Member
                    States .
                    Done at Brussels, 10 October 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 249, 1 . 10. 1996, p. 41 .
(4)  OJ   No L 108 , 1 . 5. 1993, p. 106.
(5   OJ   No L 188, 27. 7. 1996, p. 22.
 ---pagebreak--- No L 258 / 18     EN                 Official Journal of the European Communities                                  11 . 10 . 96
                                                              ANNEX I
                                                  Agricultural conversion rates
                                     ECU 1 =          39,5483       Belgian and
                                                                   Luxembourg francs
                                                       7,49997     Danish kroner
                                                        1 ,92047   German marks
                                                     311,761       Greek drachmas
                                                     198,202       Portuguese escudos
                                                       6,61023     French francs
                                                       6,02811     Finnish marks
                                                       2,15464     Dutch guilders
                                                       0,829498    Irish punt
                                                   1 973,93        Italian lire
                                                      13,5103      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 =     38,0272       Belgian and                   ECU 1 =         41,1961      Belgian and
                                     Luxembourg francs           I                              Luxembourg francs
                        7,21151      Danish kroner                                  7,81247     Danish kroner
                         1,84661     German marks                                   2,00049     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
                        2,07177      Dutch guilders                                 2,24442    Dutch guilders
                        0,797594     Irish punt                                     0,864060   Irish punt
                    1 898,01         Italian lire                               2 056,18       Italian lire
                       12,9907      Austrian schillings                            14,0732     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