CELEX: 31995R0764
Language: en
Date: 1995-04-04 00:00:00
Title: COMMISSION REGULATION (EC) No 764/95 of 4 April 1995 fixing the agricultural conversion rates

5 . 4. 95             EN                Official Journal of the European Communities                                No L 76/5
                                        COMMISSION REGULATION (EC) No 764/95
                                                         of 4 April 1995
                                          fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        fix a new agricultural conversion rate for the Italian lira,
                                                                   the Greek drachma and the Swedish krona ;
 Having regard to the Treaty establishing the European             Whereas Article 15 (2) of Regulation (EEC) No 1068/93
 Community,                                                        provides that an agricultural conversion rate fixed in
                                                                   advance is to be adjusted if the gap between that rate and
                                                                   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 )
 thereof,                                                          gap of four points with that rate ; whereas the rate which
                                                                   replaces the agricultural conversion rate fixed in advance
                                                                   should be specified,
Whereas the agricultural conversion rates were fixed by
 Commission Regulation (EC) No 644/95 (3) ;
                                                                   HAS ADOPTED THIS REGULATION :
Whereas Article 4 of Regulation (EEC) No 3813/92
provides that, subject to confirmation periods being trig­
gered, the agricultural conversion rate for a currency is to
be adjusted where the monetary gap between it and the                                        Article 1
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
cable, confirmation periods, established in accordance
with Article 2 of Commission Regulation (EEC) No                                             Article 2
 1068/93 of 30 April 1993 on detailed rules for deter­
mining and applying the agricultural conversion rates (4),          1 . In the case referred to in Article 1 5 (3) of Regulation
as last amended by Regulation (EC) No 1 57/95 (*) ;                (EEC) No 1068/93, the agricultural conversion rate fixed
whereas paragraph 2 of that Article provides that, in cases        in advance shall be replaced by the ecu rate for the
where the absolute value of the difference between the
                                                                   currency concerned, shown in Annex II :
monetary gaps in two Member States, calculated from the
average of the ecu rates for three consecutive quotation           — Table A, where the latter rate is higher than the rate
days, exceeds six points, the representative market rates               fixed in advance,
are to be adjusted on the basis of the three quotation days
in question ;                                                      — Table B, where the latter rate is lower than the rate
                                                                        fixed in advance.
Whereas the confirmation period that began on 26 March
                                                                   2. However, in the case of agricultural conversion rates
 1995 ends on 24 April 1995 in accordance with Article 1
                                                                   fixed in advance before 1 February 1995, the ecu rates
of Commission Regulation (EC) No 758/95 of 3 April
                                                                   listed in Annex II shall be replaced by those set out in
 1995 laying down special rules for fixing agricultural            Annex III.
conversion rates (6) ;
Whereas, as a consequence of the exchange rates recorded                                     Article 3
from 26 March to 4 April 1995, and the application of
Article 2 of Regulation (EC) No 758/95 it is necessary to
                                                                   Regulation (EC) No 644/95 is hereby repealed.
(')  OJ No  L 387, 31 . 12. 1992, p. 1 .
(2)  OJ No  L 22, 31 . 1 . 1995, p. 1 .
(3)  OJ No  L 67, 25. 3. 1995, p. 22.                                                        Article 4
0    OJ  No L 108, 1 . 5. 1993, p. 106.
O    OJ  No L 24, 1 . 2. 1995, p. 1 .
(«)  OJ  No L 75, 4. 4. 1995, p. 11 .                              This Regulation shall enter into force on 5 April 1995.
 ---pagebreak--- No L 76/6       lENI                 Official Journal of the European Communities                                5. 4, 95
             This Regulation shall be binding in its entirety and directly applicable in all Member
              States.
              Done at Brussels, 4 April 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
                                                    302,837     Greek drachmas
                                                    198,202     Portuguese escudos
                                                      6,61023   French francs
                                                      5,88000   Finnish marks
                                                      2,19672   Dutch guilders
                                                      0,829498  Irish punt
                                                  2 277,46      Italian lire
                                                     13,7190    Austrian schillings
                                                    170,165     Spanish pesetas
                                                     9,80081   Swedish kroner
                                                      0,829882 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
          I                          Luxembourg francs                                       Luxembourg francs
                          7,44390    Danish kroner                                8,06423    Danish kroner
                          1,87463    German marks                                 2,03085    German marks
                        291,189      Greek drachmas                            315,455       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
                          0,797594   Irish punt                                   0,864060   Irish punt
                      2 189,87       Italian lire                            2 372,35        Italian lire
                         13,1913     Austrian schillings                         14,2906     Austrian schillings
                        163,620      Spanish pesetas                           177,255       Spanish pesetas
                          9,42386    Swedish kroner                              10,2092     Swedish kroner
                          0,797963   Pound sterling                               0,864460   Pound sterling
 ---pagebreak--- 5. 4. 95       EN                 Official Journal of the European Communities                            No L 76/7
                                                       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
                      351,613      Greek drachmas                        380,915      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
                        0,963102   Irish punt                              1,04336    Irish punt
                    2 644,29       Italian lire                        2 864,63       Italian lire
                       15,9286     Austrian schillings                    17,2560     Austrian schillings
                      197,573      Spanish pesetas                       214,037      Spanish pesetas
                       11,3794     Swedish kroner                         12,3277     Swedish kroner
                        0,963548   Pound sterling                          1,04384    Pound sterling