CELEX: 31996R1164
Language: en
Date: 1996-06-26 00:00:00
Title: COMMISSION REGULATION (EC) No 1164/96 of 26 June 1996 fixing the agricultural conversion rates

27. 6. 96           EN                 Official Journal of the European Communities                             No L 153/41
                                      COMMISSION REGULATION (EC) No 1164/96
                                                       of 26 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
                                                                  operative event applicable for the amount concerned
 Having regard to Council Regulation (EEC) No 3813/92             exceeds four points; whereas, in that event, the agricul­
 of 28 December 1992 on the unit of account and the
                                                                  tural conversion rate fixed in advance is brought more
 conversion rates to be applied for the purposes of the           closely into line with the rate in force, up to the level of a
common agricultural policy ('), as last amended by Regu­          gap of four points with that rate; whereas the rate which
 lation (EC) No 1 50/95 (2), and in particular Article 3 ( 1 )    replaces the agricultural conversion rate fixed in advance
 thereof,                                                         should be specified,
Whereas the agricultural conversion rates were fixed by
 Commission Regulation (EC) No 1086/96 (3);                       HAS ADOPTED THIS REGULATION:
Whereas Article 4 of Regulation (EEC) No 3813/92                                            Article 1
 provides that, subject to confirmation periods being trig­
gered, the agricultural conversion rate for a currency is to      The agricultural conversion rates are fixed in Annex I
be adjusted where the monetary gap between it and the             hereto .
representative market rate exceeds certain levels;
                                                                                           Article 2
Whereas the representative market rates are determined
on the basis of basic reference periods or, where applic­         In the case referred to in Article 15 (3) of Regulation
able, confirmation periods, established in accordance with        (EEC) No 1068/93, the agricultural conversion rate fixed
Article 2 of Commission Regulation (EEC) No 1068/93 of            in advance shall be replaced by the ecu rate for the
30 April 1993 on detailed rules for determining and               currency concerned, shown in Annex II:
applying the agricultural conversion rates (4), as last
amended by Regulation (EC) No 2853/95 (*); whereas                — Table A, where the latter rate is higher than the rate
paragraph 2 of that Article provides that, in cases where             fixed in advance,
the absolute value of the difference between the monetary         — Table B, where the latter rate is lower than the rate
gaps in two Member States, calculated from the average of             fixed in advance .
the ecu rates for three consecutive quotation days, exceeds
six points, the representative market rates are to be                                      Article 3
adjusted on the basis of the three quotation days in ques­
tion ;                                                            Regulation (EC) No 1086/96 is hereby repealed.
Whereas, as a consequence of the exchange rates recorded                                   Article 4
from 17 to 26 June 1996, it is necessary to fix a new agri­
cultural conversion rate for the Dutch guilder,                   This Regulation shall enter into force on 27 June 1996.
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States.
                  Done at Brussels, 26 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 .
(3) OJ No L 142, 15. 6. 1996, p. 36.
(4) OJ No L 108, 1 . 5. 1993, p. 106.
0 OJ No L 299, 12. 12. 1995, p. 1 .
 ---pagebreak--- No L 153/42     EN                Official Journal of the European Communities                                 27. 6. 96
                                                          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
                                                    2,14427   Dutch guilders
                                                    0,829498  Irish punt
                                                2 030,40      Italian lire
                                                   13,4713    Austrian schillings
                                                  165,198     Spanish pesetas
                                                    8,93762   Swedish kroner
                                                    0,833821  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
                       2,06180     Dutch guilders                              2,23361     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
                       0,801751    Pound sterling                              0,868564    Pound sterling