CELEX: 31995R1766
Language: en
Date: 1995-07-21 00:00:00
Title: COMMISSION REGULATION (EC) No 1766/95 of 21 July 1995 fixing the agricultural conversion rates

22. 7. 95              EN               Official Journal of the European Communities                                No L 172/ 1
                                                                I
                                              (Acts whose publication is obligatory)
                                       COMMISSION REGULATION (EC) No 1766/95
                                                        of 21 July 1995
                                          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
                                                                    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               tural conversion rate fixed in advance is brought more
of 28 December 1992 on the unit of account and the                  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 1726/95 f);                           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
representative market rate exceeds certain levels ;                 The agricultural conversion rates are fixed in Annex I
                                                                    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
 1068/93 of 30 April 1993 on detailed rules for deter­              In the case referred to in Article 15 (3) of Regulation
mining and applying the agricultural conversion rates (4),          (EEC) No 1068/93, the agricultural conversion rate fixed
as last amended by Regulation (EC) No 1053/95 (*) ;                 in advance shall be replaced by the ecu rate for the
whereas paragraph 2 of that Article provides that, in cases         currency concerned, shown in Annex II :
where the absolute value of the difference between the
monetary gaps in two Member States, calculated from the             — Table A, where the latter rate is higher than the rate
average of the ecu rates for three consecutive quotation                fixed in advance,
days, exceeds six points, the representative market rates
                                                                    — Table B, where the latter rate is lower than the rate
are to be adjusted on the basis of the three quotation days             fixed in advance .
in question ;
Whereas, as a consequence of the exchange rates recorded                                     Article 3
from 14 to 23 July 1995, it is necessary to fix a new agri­
cultural conversion rate for the Danish krone and Spanish
peseta ;                                                            Regulation (EC) No 1726/95 is hereby repealed.
(') OJ No  L 387, 31 . 12. 1992, p. 1 .
0   OJ No  L 22, 31 . 1 . 1995, p. 1 .                                                       Article 4
(3) OJ No  L  163, 14. 7. 1995, p. 27.
(4) OJ No  L  108 , 1 . 5. 1993, p. 106.
 4 OJ No L 107, 12. 5. 1995, p. 4.                                 This Regulation shall enter into force on 24 July 1995.
 ---pagebreak--- No L 172/2     PEN                  Official Journal of the European Communities                                   22. 7. 95
             This Regulation shall be binding in its entirety and directly applicable in all Member
             States .
             Done at Brussels, 21 July 1995.
                                                                            For the Commission
                                                                               Franz FISCHLER
                                                                        Member of the Commission
                                                           ANNEX I
                                                Agricultural conversion rates
                                     ECU 1    =      39,5239   Belgian and
                                                               Luxembourg francs
                                                      7,49997  Danish kroner
                                                      1,90616  German marks
                                                    302,927    Greek drachmas
                                                    198,202    Portuguese escudos
                                                      6,61023  French francs
                                                      5,88000  Finnish marks
                                                      2,14021  Dutch guilders
                                                      0,829498 Irish punt
                                                  2 248,15     Italian lire
                                                     13,4084   Austrian schillings
                                                    165,198    Spanish pesetas
                                                      9,91834  Swedish kroner
                                                      0,843954 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                                7,8 1 247    Danish kroner
                          1,83285    German marks                                 1,98558      German marks
                        291,276      Greek drachmas                            315,549         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
                          2,05789 Dutch guilders                                  2,22939 Dutch guilders
                          0,797594 Irish punt                                     0,864060 Irish punt
                      2 161,68       Italian lire                           2 341,82           Italian lire
                         12,8927     Austrian schillings                        1 3,967 1      Austrian schillings
                        158,844      Spanish pesetas                           172,081         Spanish pesetas
                          9,53687    Swedish kroner                             10,3316        Swedish kroner
                          0,811494 Pound sterling                                 0,879119 Pound sterling