CELEX: 31996R2356
Language: en
Date: 1996-12-10 00:00:00
Title: COMMISSION REGULATION (EC) No 2356/96 of 10 December 1996 fixing the agricultural conversion rates

No L 320/22          \ EN               Official Journal of the European Communities                                 11 . 12. 96
                                           COMMISSION REGULATION (EC) No 2356/96
                                                         of 10 December 1996
                                              fixing the agricultural conversion rates
    THE COMMISSION OF THE EUROPEAN COMMUNITIES,                        German mark, the Dutch guilder and the Austrian schil­
                                                                       ling;
    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 1 50/95 (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 2308/96 (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 (5); 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 2308/96 is hereby repealed .
                                                                                                Article 4
 Whereas, as a consequence of the exchange rates recorded
 from 1 to 10 December 1996, it is necessary to fix a new             This Regulation shall enter into force on 1 1 December
 agricultural conversion rate for the Belgian franc, the              1996 .
                     This Regulation shall be binding in its entirety and directly applicable in all Member
                     States .
                     Done at Brussels, 10 December 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 .
0    OJ   No L 311 , 30 . 11 . 1996, p. 54.
O    OJ   No L  108 , 1 . 5. 1993, p. 106.
(5   OJ   No L  188 , 27. 7. 1996, p. 22.
 ---pagebreak--- 11 . 12. 96      [ EN                 Official Journal of the European Communities                                No L 320/23
                                                              ANNEX I
                                                   Agricultural conversion rates
                                      ECU 1 =          39,9502    Belgian and
                                                                  Luxembourg francs
                                                        7,49997   Danish kroner
                                                         1,93805  German marks
                                                      311,761     Greek drachmas
                                                      198,202     Portuguese escudos
                                                        6,61023   French francs
                                                        6,02811   Finnish marks
                                                        2,17413   Dutch guilders
                                                        0,812908  Irish punt
                                                    1 973,93      Italian lire
                                                       13,6364    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 =     38,4137       Belgian and                 ECU 1 =         41,6148      Belgian and
                                      Luxembourg francs                                        Luxembourg francs
                         7,21151      Danish kroner                                7,81247     Danish kroner
                          1,86351     German marks                                 2,01880     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
                         2,09051      Dutch guilders                               2,26472    Dutch guilders
                         0,781642     Irish punt                                   0,846779   Irish punt
                     1 898,01         Italian lire                             2 056,18       Italian lire
                        13,1119      Austrian schillings                          14,2046     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