CELEX: 31997R0039
Language: en
Date: 1997-01-10
Title: COMMISSION REGULATION (EC) No 39/97 of 10 January 1997 fixing the agricultural conversion rates

No L 8/ 10           EN               Official Journal of the European Communities                                   11 . 1 . 97
                                         COMMISSION REGULATION (EC) No 39/97
                                                       of 10 January 1997
                                           fixing the agricultural conversion rates
  THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       German mark, the Dutch guilder, the Austrian schilling
                                                                    and the Irish pound;
   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
  Having regard to Council Regulation (EEC) No 3813/92              advance is to be adjusted if the gap between that rate and
  of 28 December 1992 on the unit of account and the                the agricultural conversion rate in force at the time of the
  conversion rates to be applied for the purposes of the            operative event applicable for the amount concerned
  common agricultural policy ('), as last amended by Regu­          exceeds four points; whereas, in that event, the agricul­
  lation (EC) No 150/95 (2), and in particular Article 3 ( 1 )      tural conversion rate fixed in advance is brought more
  thereof,                                                          closely into line with the rate in force, up to the level of a
                                                                    gap of four points with that rate; whereas the rate which
  Whereas the agricultural conversion rates were fixed by           replaces the agricultural conversion rate fixed in advance
  Commission Regulation (EC) No 2525/96 (3);                        should be specified,
  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                                Article 1
  be adjusted where the monetary gap between it and the            The agricultural conversion rates are fixed in Annex I
 representative market rate exceeds certain levels;                hereto.
 Whereas the representative market rates are determined                                      Article 2
 on the basis of basic reference periods or, where applic­
 able, confirmation periods, established in accordance with        In the case referred to in Article 15 (3) of Regulation
 Article 2 of Commission Regulation (EEC) No 1068/93 of            (EEC) No 1068/93, the agricultural conversion rate fixed
 30 April 1993 on detailed rules for determining and               in advance shall be replaced by the ecu rate for the
 applying the agricultural conversion rates (4), as last           currency concerned, shown in Annex II:
 amended by Regulation (EC) No 1482/96 (*); 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 2525/96 is hereby repealed.
                                                                                             Article 4
 Whereas, as a consequence of the exchange rates recorded
 from 1 to 10 January 1997, it is necessary to fix a new           This Regulation shall enter into force on 11 January
 agricultural conversion rate for the Belgian franc, the           1997.
                   This Regulation shall be binding in its entirety and directly applicable in all Member
                   States.
                   Done at Brussels, 10 January 1997.
                                                                             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 345, 31 . 12. 1996, p. 76.
0    OJ No  L 108 , 1 . 5. 1993, p. 106.
0    OJ No  L 188, 27. 7. 1996, p. 22.
 ---pagebreak--- 11 . 1 . 97      [ EN                  Official Journal of the European Communities                               No L 8/ 11
                                                              ANNEX I
                                                   Agricultural conversion rates
                                       ECU 1 =         40,1295    Belgian and
                                                                  Luxembourg francs
                                                        7,49997   Danish kroner
                                                        1,94738   German marks
                                                      311,761     Greek drachmas
                                                      198,202     Portuguese escudos
                                                        6,61023   French francs
                                                        6,02811   Finnish marks
                                                        2,18573   Dutch guilders
                                                        0,778173  Irish punt
                                                    1 973,93      Italian lire
                                                       13,7020    Austrian schillings
                                                      165,198     Spanish pesetas
                                                        8,64446   Swedish kroner
                                                        0,809915  Pound sterling
                                                             ANNEX II
                               Agricultural conversion rates fixed in advance and adjusted
                                 Table A                                                  Table B
            ECU 1 =      38,5861       Belgian and                ECU 1 =         41,8016      Belgian and
                                       Luxembourg francs                                       Luxembourg francs
                          7,21151      Danish kroner                               7,81247     Danish kroner
                          1,87248      German marks                                2,02852     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
                          2,10166      Dutch guilders                              2,27680     Dutch guilders
                          0,748243     Irish punt                                  0,810597    Irish punt
                      1 898,01         Italian lire                            2 056,18        Italian lire
                         13,1750       Austrian schillings                        14,2729     Austrian schillings
                        158,844        Spanish pesetas                           172,081      Spanish pesetas
                          8,31198      Swedish kroner                              9,00465    Swedish kroner
                          0,778764     Pound sterling                              0,843661   Pound sterling