CELEX: 31995R1079
Language: en
Date: 1995-05-12 00:00:00
Title: COMMISSION REGULATION (EC) No 1079/95 of 12 May 1995 fixing the agricultural conversion rates

13. 5. 95          riN                  Official Journal of the European Communities                             No L 108 /63
                                       COMMISSION REGULATION (EC) No 1079/95
                                                         of 12 May 1995
                                          fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        Regulation (EC) No 996/95 it is necessary to fix a new
                                                                   agricultural conversion rate for the pound sterling ;
Having regard to the Treaty establishing the European
Community,                                                         Whereas Article 15 (2) of Regulation (EEC) No 1068 /93
                                                                   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
of 28 December 1992 on the unit of account and the                 operative event applicable for the amount concerned
conversion rates to be applied for the purposes of the             exceeds four points ; whereas, in that event, the agricul­
common agricultural policy ('), as last amended by Regu­           tural conversion rate fixed in advance is brought more
lation (EC) No 1 50/95 (2), and in particular Article 3 (1 )       closely into line with the rate in force, up to the level of a
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 901 /95 0 ;
Whereas Article 4 of Regulation (EEC) No 3813/92                   HAS ADOPTED THIS REGULATION :
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
representative market rate exceeds certain levels ;                                          Article 1
Whereas the representative market rates are determined             The agricultural conversion rates are fixed in Annex I
on the basis of basic reference periods or, where appli­           hereto .
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
mining and applying the agricultural conversion rates (4),                                   Article 2
as last amended by Regulation (EC) No 157/95 (*) ;
whereas paragraph 2 of that Article provides that, in cases
where the absolute value of the difference between the             In the case referred to in Article 15 (3) of Regulation
monetary gaps in two Member States, calculated from the            (EEC) No 1068/93, the agricultural conversion rate fixed
average of the ecu rates for three consecutive quotation           in advance shall be replaced by the ecu rate for the
days, exceeds six points, the representative market rates          currency concerned, shown in Annex II :
are to be adjusted on the basis of the three quotation days
in question ;                                                      — Table A, where the latter rate is higher than the rate
                                                                       fixed in advance,
Whereas the confirmation period that began on 25 April             — Table B, where the latter rate is lower than the rate
 1995 ends on 24 May 1995 in accordance with Article 1                 fixed in advance .
of Commission Regulation (EC) No 996/95 of 3 May
 1995 laying down special rules for fixing agricultural
conversion rates (6) ;
                                                                                            Article 3
Whereas, as a consequence of the exchange rates recorded
from 5 to 14 May 1995, and the application of Article 2 of         Regulation (EC) No 901 /95 is hereby repealed.
(') OJ  No L 387, 31 . 12. 1992, p. 1 .
(2) OJ  No L 22, 31 . 1 . 1995, p. 1 .
0)  OJ  No L 92, 25. 4. 1995, p. 22.                                                         Article 4
(4) OJ  No L  108 , 1 . 5. 1993, p. 106.
(5) OJ  No L 24, 1 . 2. 1995, p. 1 .
(6) OJ  No L  101 , 4. 5. 1995, p. 15.                             This Regulation shall enter into force on 15 May 1995.
 ---pagebreak--- No L 108 /64   I EN I           Official Journal of the European Communities                        13 . 5. 95
             This Regulation shall be binding in its entirety and directly applicable in all Member
             States .
             Done at Brussels, 12 May 1995.
                                                                    For the Commission
                                                                      Franz FISCHLER
                                                                Member of the Commission
 ---pagebreak--- 13 . 5 . 95      EN               Official Journal of the European Communities                                 No L 108 /65
                                                         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
                                                2311,19      Italian lire
                                                   13,7190   Austrian schillings
                                                  170,165    Spanish pesetas
                                                    9,91834  Swedish kroner
                                                    0,840997 Pound sterling
                                                        ANNEX II
                           Agricultural conversion rates fixed in advance and adjusted
                              Table A                                                 Table B
            iCU 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
                      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
                    2 222,30       Italian lire                           2 407,49         Italian lire
                       13,1913     Austrian schillings                        14,2906      Austrian schillings
                      163,620      Spanish pesetas                           177,255       Spanish pesetas
                        9,53687    Swedish kroner                             10,3316      Swedish kroner
                        0,808651   Pound sterling                              0,876039    Pound sterling