CELEX: 31996R1025
Language: en
Date: 1996-06-06 00:00:00
Title: COMMISSION REGULATION (EC) No 1025/96 of 6 June 1996 fixing the agricultural conversion rates

No L 136/22          EN                Official Journal of the European Communities                                   7. 6. 96
                                     COMMISSION REGULATION (EC) No 1025/96
                                                       of 6 June 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 936/96 (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 appli­
cable, confirmation periods, established in accordance           In the case referred to in Article 15 (3) of Regulation
with Article 2 of Commission Regulation (EEC) No                 (EEC) No 1068/93, the agricultural conversion rate fixed
1068/93 of 30 April 1993 on detailed rules for deter­            in advance shall be replaced by the ecu rate for the
mining and applying the agricultural conversion rates (4),       currency concerned, shown in Annex II:
as last amended by Regulation (EC) No 2853/95 (*);
whereas paragraph 2 of that Article provides that, in cases      — Table A, where the latter rate 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                                Article 3
in question;
                                                                 Regulation (EC) No 936/96 is hereby repealed.
Whereas, as a consequence of the exchange rates recorded
from 28 May to 6 June 1996, it is necessary to fix a new                                   Article 4
agricultural conversion rate for the German mark, the
Dutch guilder and the Austrian schilling;                        This Regulation shall enter into force on 7 June 1996.
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States.
                 Done at Brussels, 6 June 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 127, 25. 5. 1996, p. 24.
b) OJ No L 108, 1 . 5. 1993, p. 106.
n OJ No L 299, 12. 12. 1995, p. 1 .
 ---pagebreak--- 7. 6. 96     I EN I             Official Journal of the European Communities                                  No L 136/23
                                                         ANNEX I
                                            Agricultural conversion rates
                                 ECU 1 =          39,5239    Belgian and
                                                             Luxembourg francs
                                                   7,49997   Danish kroner
                                                   1,91449   German marks
                                                 311,761     Greek drachmas
                                                 198,202     Portuguese escudos
                                                   6,61023   French francs
                                                   6,02811   Finnish marks
                                                   2,14272   Dutch guilders
                                                   0,829498  Irish punt
                                               2 030,40      Italian lire
                                                  13,4713    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
                      1,84086     German marks                                1 ,99426    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
                      2,06031     Dutch guilders                              2,23200     Dutch guilders
                      0,797594    Irish punt                                  0,864060    Irish punt
                  1 952,31        Italian lire                            2 115,00        Italian lire
                     12,9532      Austrian schillings                        14,0326      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