CELEX: 31995R0901
Language: en
Date: 1995-04-24 00:00:00
Title: COMMISSION REGULATION (EC) No 901/95 of 24 April 1995 fixing the agricultural conversion rates

No L 92/22          | EN 1              Official Journal of the European Communities                                    25. 4. 95
                                         COMMISSION REGULATION (EC) No 901/95
                                                         of 24 April 1995
                                           fixing the agricultural conversion rates
  THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        agricultural conversion rate for the Italian lira, the
                                                                     Swedish krona and the pound sterling ;
  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
  Having regard to Council Regulation (EEC) No 3813/92               the agricultural conversion rate in force at the time of the
  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 835/95 (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
 1995 ends on 24 April 1995 in accordance with Article 1            2. However, in the case of agricultural conversion rates
 of Commission Regulation (EC) No 758/95 of 3 April
                                                                    fixed in advance before 1 February 1995, the ecu rates
 1995 laying down special rules for fixing agricultural             listed in Annex II shall be replaced by those set out in
                                                                    Annex III.
conversion rates (*);
Whereas, as a consequence of the exchange rates recorded                                       Article 3
from 15 to 24 April 1995, and the application of Article 2
of Regulation (EC) No 758/95 it is necessary to fix a new
                                                                    Regulation (EC) No 835/95 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 84, 14. 4. 1995, p. 3.                                                           Article 4
(4) OJ  No  L 108, 1 . 5. 1993, p. 106.
f5) OJ  No  L 24, 1 . 2. 1995, p. 1 .
(6) OJ  No  L 75, 4. 4. 1 995, p. 11 .                             This Regulation shall enter into force on 25 April 1995.
 ---pagebreak--- 25. 4. 95       EN                Official Journal of the European Communities                                  No L 92/23
            This Regulation shall be binding in its entirety and directly applicable in all Member
            States.
            Done at Brussels, 24 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
                                                 2 311,19     Italian lire
                                                    13,7190   Austrian schillings
                                                   170,165    Spanish pesetas
                                                     9,91834  Swedish kroner
                                                     0,836385 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
                                    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                              103316       Swedish kroner
                        0,804216   Pound sterling                               0,871234    Pound sterling
 ---pagebreak--- No L 92/24      I EN I              Official Journal of the European Communities                            25. 4. 95
                                                         ANNEX III
           Agricultural conversion rates fifced 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                           831450     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
                      2 683,45       Italian lire                        2 907,07       Italian lire
                         15,9286     Austrian schillings                    17,2560     Austrian schillings
                        197,573      Spanish pesetas                       214,037      Spanish pesetas
                         11,5159     Swedish kroner                         12,4755     Swedish kroner
                          0,971098   Pound sterling                          1,05202    Pound sterling