CELEX: 31995R1726
Language: en
Date: 1995-07-13 00:00:00
Title: COMMISSION REGULATION (EC) No 1726/95 of 13 July 1995 fixing the agricultural conversion rates

14. 7 . 95             EN                 Official Journal of the European Communities                             No L 163/27
                                         COMMISSION REGULATION (EC) No 1726/95
                                                           of 13 July 1995
                                            fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                          advance is to be adjusted if the gap between that rate and
 Having regard to the Treaty establishing the European               the agricultural conversion rate in force at the time of the
Community,                                                           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 1 50/95 (2), and in particular Article 3 ( 1 )        should be specified,
thereof,
Whereas the agricultural conversion rates were fixed by
Commission Regulation (EC) No 1613/95 (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
                                                                     hereto.
representative market rate exceeds certain levels ;
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                     In the case referred to in Article 15 (3) of Regulation
 1068/93 of 30 April 1993 on detailed rules for deter­               (EEC) No 1068/93, the agricultural conversion rate fixed
mining and applying the agricultural conversion rates (4),           in advance shall be replaced by the ecu rate for the
                                                                     currency concerned, shown in Annex II :
as last amended by Regulation (EC) No 1053/95 (*) ;
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
in question ;                                                                                 Article 3
Whereas, as a consequence of the exchange rates recorded             Regulation (EC) No 1613/95 is hereby repealed.
from 4 to 13 July 1995, it is necessary to fix a new agri­
cultural conversion rate for the Greek drachma ;
                                                                                              Article 4
Whereas Article 15 (2) of Regulation (EEC) No 1068/93
provides that an agricultural conversion rate fixed in               This Regulation shall enter into force on 14 July 1995.
                  This Regulation shall be binding in its entirety and directly applicable in all Member
                   States.
                   Done at Brussels, 13 July 1995.
                                                                               For the Commission
                                                                                 Franz FISCHLER
                                                                           Member of the Commission
(') OJ   No L 387, 31 . 12. 1992,   p. 1 .
i1) OJ   No L 22, 31 . 1 . 1995, p.  1.
(3) OJ   No L 153, 4. 7. 1995, p.    25.
0   OJ   No L 108 , 1 . 5. 1993, p.  106.
Is) OJ No L 107, 12. 5. 1995, p. 4.
 ---pagebreak--- No L 163/28   I EN I              Official Journal of the European Communities                                14. 7 . 95
                                                        ANNEX I
                                             Agricultural conversion rates
                                  ECU 1 =         39,5239   Belgian and
                                                            Luxembourg francs
                                                   7,74166  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
                                                 170,165    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
                       7,44390    Danish kroner                               8,06423     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                        13,9671      Austrian schillings
                     163,620      Spanish pesetas                           177,255       Spanish pesetas
                       9,53687    Swedish kroner                             10,3316      Swedish kroner
                       0,811494 Pound sterling                                0,879119 Pound sterling