CELEX: 31995R1417
Language: en
Date: 1995-06-23 00:00:00
Title: COMMISSION REGULATION (EC) No 1417/95 of 23 June 1995 fixing the agricultural conversion rates

24. 6 . 95             EN                Official Journal of the European Communities                               No L 141 /3
                                        COMMISSION REGULATION (EC) No 1417/95
                                                         of 23 June 1995
                                           fixing the agricultural conversion rates
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                         1995 laying down special rules for fixing agricultural
                                                                    conversion rates Q ;
 Having regard to the Treaty establishing the European              Whereas, as a consequence of the exchange rates recorded
 Community,                                                         from 25 May to 23 June 1995, it is necessary to fix a new
                                                                    agricultural conversion rate for the Belgian franc and the
                                                                    Luxembourg franc ;
 Having regard to Council Regulation (EEC) No 3813/92
 of 28 December 1992 on the unit of account and the
 conversion rates to be applied for the purposes of the             Whereas Article 15 (2) of Regulation (EEC) No 1068/93
 common agricultural policy ('), as last amended by Regu­           provides that an agricultural conversion rate fixed in
 lation (EC) No 1 50/95 (2), and in particular Article 3 ( 1 )      advance is to be adjusted if the gap between that rate and
 thereof,                                                           the agricultural conversion rate in force at the time of the
                                                                    operative event applicable for the amount concerned
                                                                    exceeds four points ; whereas, in that event, the agricul­
 Whereas the agricultural conversion rates were fixed by            tural conversion rate fixed in advance is brought more
 Commission Regulation (EC) No 1079/95 (3) ;                        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
                                                                    replaces the agricultural conversion rate fixed in advance
 Whereas Article 4 of Regulation (EEC) No 3813/92                   should be specified,
 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 ;                HAS ADOPTED THIS REGULATION :
Whereas the representative market rates are determined                                       Article 1
on the basis of basic reference periods or, where appli­
 cable, confirmation periods, established in accordance
with Article 2 of Commission Regulation (EEC) No                    The agricultural conversion rates are fixed in Annex I
                                                                    hereto.
 1068 /93 of 30 April 1993 on detailed rules for deter­
 mining and applying the agricultural conversion rates (4),
 as last amended by Regulation (EC) No 1053/95Q ;
whereas paragraph 2 of that Article provides that, in cases                                  Article 2
where the absolute value of the difference between the
 monetary gaps in two Member States, calculated from the            In the case referred to in Article 15 (3) of Regulation
 average of the ecu rates for three consecutive quotation           (EEC) No 1068/93, the agricultural conversion rate fixed
 days, exceeds six points, the representative market rates          in advance shall be replaced by the ecu rate for the
are to be adjusted on the basis of the three quotation days         currency concerned, shown in Annex II :
 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
 1995 ends on 24 May 1995 in accordance with Article 1              — Table B, where the latter rate is lower than the rate
of Commission Regulation (EC) No 996/95 of 3 May                        fixed in advance .
 1995 laying down special rules for fixing agricultural
conversion rates (6) ;
                                                                                             Article 3
Whereas the confirmation period that began on 25 May                Regulation (EC) No 1079/95 is hereby repealed.
 1995 ends on 23 June 1995 in accordance with Article 1
of Commission Regulation (EC) No 1273/95 of 2 June
                                                                                             Article 4
(') OJ  No  L 387, 31 . 12. 1992, p. 1 .
(2) OJ  No  L 22, 31 . 1 . 1995, p. 1 .
  3 OJ  No  L  108, 13. 5. 1995, p. 63.                             This Regulation shall enter into force on 24 June 1995.
(4) OJ  No  L 108 , 1 . 5. 1993, p. 106.
0   OJ  No  L  107, 12. 5. 1 995, p. 4.
¥) OJ No L 101 , 4. 5. 1995, p. 15.                                 o OJ No L 123, 3 . 6. 1995, p. 15 .
 ---pagebreak--- No L 141 /4     Pen                  Official Journal of the European Communities                                24. 6. 95
              This Regulation shall be binding in its entirety and directly applicable in all Member
              States.
              Done at Brussels, 23 June 1995.
                                                                            For the Commission
                                                                                Franz FISCHLER
                                                                        Member of the Commission
                                                            ANNEX I
                                                Agricultural conversion rates
                                     ECU 1 =         39,5239   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
            ECU 1 =      38,0600     Belgian and                 ECU 1 =        41,2317      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