CELEX: 31994R0039
Language: en
Date: 1994-01-11 00:00:00
Title: Commission Regulation (EC) No 39/94 of 10 January 1994 fixing the agricultural conversion rates

11 . 1 . 94                               Official Journal of the European Communities                                 No L 7/7
                                       COMMISSION REGULATION (EC) No 39/94
                                                        of 10 January 1994
                                           fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                         operative event applicable for the currency concerned
                                                                    exceeds four points ; whereas, in that event, the agricul­
Having regard to the Treaty establishing the European               tural conversion rate fixed in advance is brought more
Community,
                                                                    closely into line with the rate in force, up to the level of a
Having regard to Council Regulation (EEC) No 3813/92                gap of four points with that rate ; whereas the rate which
of 28 December 1992 on the unit of account and the                  replaces the agricultural conversion rate fixed in advance
conversion rates to be applied for the purposes of the              should be specified,
common agricultural policy ('), as last amended by Regu­
lation (EC) No 3528/93 (2), and in particular Article 3 ( 1 )
thereof,                                                            HAS ADOPTED THIS REGULATION :
Whereas the agricultural conversion rates were fixed by
Commission Regulation (EC) No 3661 /93 (3);                                                   Article 1
Whereas Article 4 of Regulation (EEC) No 3813/92                    The agricultural conversion rates are fixed in Annex I
provides that the agricultural conversion rate for a floating       hereto.
currency is to be adjusted where the monetary gap
between it and the representative market rate exceeds
                                                                                              Article 2
certain levels ; whereas, notwithstanding that Article 4,
Article 4a of that Regulation applies until 31 December             In the case referred to in Article 15 (3) of Regulation
1994 ;
                                                                    (EEC) No 1068/93, the agricultural conversion rate fixed
Whereas the representative market rates are determined              in advance shall be replaced by the ecu rate for the
on the basis of reference periods established in accord­            currency concerned, shown in Annex II :
ance with Commission Regulation (EEC) No 1068/93 of                 — Table A, where the latter rate is higher than the rate
30 April 1993 on detailed rules for determining and                     fixed in advance,
applying the agricultural conversion rates (4) ;                        or
Whereas, as a consequence of the exchange rates recorded            — Table B, where the latter rate is lower than the rate
during the reference period 1 to 10 January 1994, it is                 fixed in advance.
necessary on the one hand to fix the limits referred to in
paragraphs 1 and 3 of Article 4a of Regulation (EEC)                                          Article 3
No 3813/92 at + 3,115 and — 1,885, and on the other
hand to fix a new agricultural conversion rate for the              Regulation (EC) No 3661 /93 is hereby repealed.
Spanish peseta ;
Whereas Article 15 (3) of Regulation (EEC) No 1068/93                                         Article 4
provides that an agricultural conversion rate fixed in
advance shall be adjusted if the gap between that rate and          This Regulation shall enter into force on 11 January
the agricultural conversion rate in force at the time of the         1994.
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States.
                 Done at Brussels, 10 January 1994.
                                                                              For the Commission
                                                                                Rene STEICHEN
                                                                          Member of the Commission
(') OJ   No L 387, 31 . 12. 1992, p. 1 .
(2) OJ   No L 320, 22. 12. 1993, p. 32.
0   OJ   No L 333, 31 . 12. 1993, p. 61 .
O   OJ   No L 108, 1 . 5. 1993, p. 106.
 ---pagebreak--- No L 7/8                       Official Journal of the European Communities                                  11 . 1 . 94
                                                     ANNEX I
                                            Agricultural conversion rates
                                    ECU 1 =        49,3070     Belgian and
                                                               Luxembourg francs
                                                    9,34812    Danish kroner
                                                    2,35418    German marks
                                                  331,890      Greek drachmas
                                                  192,319      Spanish pesetas
                                                    7,98191    French francs
                                                    0,976426   Irish punt
                                                2 264,19       Italian lire
                                                    2,65256 Dutch guilders
                                                  236,933      Portuguese escudos
                                                    0,920969 Pound sterling
                                                     ANNEX II
                        Agricultural conversion rates fixed in advance and adjusted
                           Table A                                                   Table B
         ECU 1 =    47,4106     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
                  319,125       Greek drachmas                               345,719      Greek drachmas
                   184,922      Spanish pesetas                              200,332      Spanish pesetas
                     7,67491     French francs                                 8,31449    French francs
                     0,938871    Irish punt                                    1,01711    Irish punt
                 2177,11         Italian lire                              2 358,53       Italian lire
                     2,55054 Dutch guilders                                    2,76308 Dutch guilders
                   227,820       Portuguese escudos                          246,805      Portuguese escudos
                     0,885547 Pound sterling                                   0,959343 Pound sterling