CELEX: 31995R0382
Language: en
Date: 1995-02-23 00:00:00
Title: COMMISSION REGULATION (EC) No 382/95 of 23 February 1995 fixing the agricultural conversion rates

24. 2. 95           fENl                Official Journal of the European Communities                               No L 42/23
                                        COMMISSION REGULATION (EC) No 382/95
                                                      of 23 February 1995
                                          fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        days, exceeds six points, the representative market rates
                                                                   are to be adjusted on the basis of the three quotation days
                                                                   in question ;
 Having regard to the Treaty establishing the European
 Community,                                                        Whereas, as a consequence of the exchange rates recorded
                                                                   during the reference period 21 to 23 February 1995, it is
 Having regard to Council Regulation (EEC) No 3813/92              necessary to fix a new agricultural conversion rate for the
of 28 December 1992 on the unit of account and the                 Italian lirs ;
conversion rates to be applied for the purposes of the
common agricultural policy ('), as last amended by Regu­           Whereas Article 15 (2) of Regulation (EEC) No 1068/93
lation (EC) No 1 50/95 (2), and in particular Article 3 ( 1 )      provides that an agricultural conversion rate fixed in
thereof,                                                           advance is to be adjusted if the gap between that rate and
                                                                   the agricultural conversion rate in force at the time of the
                                                                   operative event applicable for the amount concerned
 Having regard to Commission Regulation (EC) No 1 58/95            exceeds four points ; whereas, in that event, the agricul­
of 31 January 1995 laying down transitional measures for           tural conversion rate fixed in advance is brought more
the abolition of the correcting factor applicable to the           closely into line with the rate in force, up to the level of a
conversion rates used in the agricultural sector (3), and in       gap of four points with that rate ; whereas the rate which
particular Article 2 (2) thereof,                                  replaces the agricultural conversion rate fixed in advance
                                                                   should be specified,
Whereas the agricultural conversion rates were fixed by
Commission Regulation (EC) No 345/95 (4);
                                                                   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 positive monetary gap recorded for the                                           Article 2
Belgian franc during the reference period from 21 to 23
February 1995 is greater than five points ; whereas                1 . In the case referred to in Article 1 5 (3) of Regulation
applying Article 4 ( 1 ), (2) and (3) of Regulation (EEC) No       (EEC) No 1068/93, the agricultural conversion rate fixed
3813/92 would result in a considerable reduction in the
                                                                   in advance shall be replaced by the ecu rate for the
agricultural conversion rate for the currency in question ;        currency concerned, shown in Annex II :
whereas, therefore, Article 4 (5) of Regulation (EEC) No
3813/92 applies in the case of the Belgian franc ;                 — Table A, where the latter rate is higher than the rate
                                                                        fixed in advance,
Whereas the representative market rates are determined             — Table B, where the latter rate is lower than the rate
on the basis of basic reference periods or, where appli­                fixed in advance.
cable, confirmation periods, established in accordance
with Article 2 of Commission Regulation (EEC) No                   2. However, in the case of agricultural conversion rates
 1068/93 of 30 April 1993 on detailed rules for deter­             fixed in advance before 1 February 1995, the ecu rates
mining and applying the agricultural conversion rates (*),         listed in Annex II shall be replaced by those set out in
as last amended by Regulation (EC) No 157/95 (*);                  Annex III.
whereas paragraph 2 of that Article provides that, in cases
where the absolute value of the difference between the
                                                                                            Article 3
monetary gaps in two Member States, calculated from the
average of the ecu rates for three consecutive quotation
                                                                   Regulation (EC) No 345/95 is hereby repealed.
(') OJ No  L  387, 31 . 12. 1992, p. 1 .
0   OJ No  L  22, 31 . 1 . 1995, p. 1 .                                                     Article 4
0   OJ No  L  24, 1 . 2. 1995, p. 4.
(4) OJ No  L  39, 21 . 2. 1995, p. 15.
O   OJ No  L  108, 1 . 5. 1993, p. 106,                            This Regulation shall enter into force on 24 February
(6) OJ No  L 24, 1 . 2. 1995, p. 1 .                               1995.
 ---pagebreak--- No L 42/24       EN                Official Journal of the European Communities                                  24. 2. 95
             This Regulation shall be binding in its entirety and directly applicable in all Member
             States.
             Done at Brussels, 23 February 1995.
                                                                            For the Commission
                                                                               Franz FISCHLER
                                                                        Member of the Commission
                                                          ANNEX I
                                                Agricultural conversion rates
                                    ECU 1     =     40,8337    Belgian and
                                                               Luxembourg francs
                                                     7,74166   Danish kroner
                                                     1,94962   German marks
                                                   296,492     Greek drachmas
                                                   198,202     Portuguese escudos
                                                     6,61023   French francs
                                                     5,88000   Finnish marks
                                                     2,19672   Dutch guilders
                                                     0,809785  Irish punt
                                                 2 054,24      Italian lire
                                                    13,7190    Austrian schillings
                                                   164,452     Spanish pesetas
                                                    9,32044    Swedish kroner
                                                     0,805837  Pound sterling
                                                          ANNEX II
                             Agricultural conversion rates fixed in advance and adjusted
                               Table A                                                  Table B
           ECU 1 «      39,2632     Belgian and                 ECU 1 =         42,5351      Belgian and
                                    Luxembourg francs                                        Luxembourg francs
                         7,44390    Danish kroner                                8,06423     Danish kroner
                         1,87463    German marks                                 2,03085     German marks
                       285,088      Greek drachmas                            308,846        Greek drachmas
                       190,579      Portuguese escudos                        206,460        Portuguese escudos
                         6,35599    French francs                                6,88566     French francs
                         5,65385    Finnish marks                                6,12500     Finnish marks
                         2,11223    Dutch guilders                               2,28825     Dutch guilders
                         0,778639   Irish punt                                   0,843526    Irish punt
                     1 975,23       Italian lire                            2 139,83         Italian lire
                        13,1913     Austrian schillings                         14,2906      Austrian schillings
                       158,127      Spanish pesetas                           171,304        Spanish pesetas
                         8,96196    Swedish kroner                               9,70879     Swedish kroner
                         0,774843   Pound sterling                               0,839414    Pound sterling
 ---pagebreak--- 24. 2. 95      I EN 1             Official Journal of the European Communities                            No L AH25
                                                       ANNEX III
          Agricultural conversion rates fixed in advance and adjusted where they were fixed in advance
                                                before 1 February 1995
                              Table A                                            Table B
          ECU 1 =      47,4107     Belgian and              ECU 1 =       51,3615     Belgian and
                                    Luxembourg francs                                 Luxembourg francs
                        8,98858    Danish kroner                           9,73763    Danish kroner
                        2,26363    German marks                            2,45227    German marks
                      344,246      Greek drachmas                        372,934      Greek drachmas
                      230,126      Portuguese escudos                    249,302      Portuguese escudos
                        7,67492    French francs                           8,31450    French francs
                        6,82707    Finnish marks                           7,39599    Finnish marks
                        2,55054    Dutch guilders                          2,76308    Dutch guilders
                        0,940214   Irish punt                              1,01857    Irish punt
                    2 385,1 1      Italian lire                        2 583,86       Italian lire
                       15,9286     Austrian schillings                    17,2560     Austrian schillings
                      190,940      Spanish pesetas                       206,851      Spanish pesetas
                       10,8216     Swedish kroner                         11,7235     Swedish kroner
                        0,935630   Pound sterling                          1,01360    Pound sterling