CELEX: 31993R0182
Language: en
Date: 1993-01-30 00:00:00
Title: Commission Regulation (EEC) No 182/93 of 29 January 1993 fixing the agricultural conversion rates

No L 22/56                             Official Journal of the European Communities                                  30. 1 . 93
                                   COMMISSION REGULATION (EEC) No 182/93
                                                     of 29 January 1993
                                         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
Economic 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 ('), and in particular Article 3
(1 ) thereof,                                                     HAS ADOPTED THIS REGULATION :
Whereas the agricultural conversion rates were fixed by
Commission Regulation (EEC) No 32/93 (2) ;                                                  Article 1
Whereas Article 4 (1) of Regulation (EEC) No 3813/92             The agricultural conversion rates are fixed in Annex I
                                                                 hereto.
provides that the agricultural conversion rate for a floating
currency shall be adjusted where the monetary gap with
the representative market rate for the last reference period                                Article 2
of a month exceeds two points ; whereas, in that case, the
new agricultural conversion rate is fixed so as to reduce        In the case referred to in Article 11 (2) of Regulation
that monetary gap by half ;                                      (EEC) No 3819/92, the agricultural conversion rate fixed
                                                                 in advance shall be replaced by the ecu rate for the
Whereas the representative market rates are determined           currency concerned, shown in Annex II :
on the basis of reference periods determined in accor­           — Table A, where the latter rate is higher than the rate
dance with Commission Regulation (EEC) No 3819/92 of                  fixed in advance,
28 December 1992 on detailed rules for determining and                or
applying the agricultural conversion rates (3) ;
                                                                 — Table B, where the latter rate is lower than the rate
Whereas, as a consequence of the exchange rates recorded              fixed in advance.
during the reference period from 21 to 31 January 1993,
it is necessary to fix a new agricultural conversion rate for                              Article 3
the pound sterling ;
                                                                 Regulation (EEC) No 32/93 is hereby repealed.
Whereas Article 11 (2) of Regulation (EEC) No 3819/92
provides that an agricultural conversion rate fixed in                                      Article 4
advance shall be adjusted if the gap between that rate and
the agricultural conversion rate in force at the time of the     This Regulation shall enter into force on 1 February 1993.
                  This Regulation shall be binding in its entirety and directly applicable in all Member
                  States.
                  Done at Brussels, 29 January 1993.
                                                                            For the Commission
                                                                              Ren6 STEICHEN
                                                                        Member of the Commission              1
(') OJ No L 387, 31 . 12. 1992, p. 1 .
V) OJ No L 5, 9. 1 . 1993, p. 19.
0 OJ No L 387, 31 . 12. 1992, p. 17.
 ---pagebreak--- 30 . 1 . 93                        Official Journal of the European Communities                                No L 22/57
                                                         ANNEX I
                                               Agricultural conversion rates
                                       ECU 1 =       48,5563        Belgian and
                                                                  Luxembourg francs
                                                       8,97989    Danish kroner
                                                       2,35418    German marks
                                                     310,351      Greek drachmas
                                                     166,075      Spanish pesetas
                                                       7,89563    French francs
                                                       0,878776   Irish punt
                                                   2 133,00       Italian lire
                                                       2,65256    Dutch guilders
                                                     209,523      Portuguese escudos
                                                       0,951031   Pound sterling
                                                        ANNEX II
                            Agricultural conversion rates fixed in advance and adjusted
                              Table A                                                  Table B
            ECU 1 =   46,6888      Belgian and                  ECU 1 =        50,5795      Belgian and
                                    Luxembourg francs                                       Luxembourg francs
                        8,63451    Danish kroner                                 9,35405    Danish kroner
                        2,26363    German marks                                  2,45227    German marks
                      298,414      Greek drachmas                              323,282      Greek drachmas
                      159,688      Spanish pesetas                             172,995      Spanish pesetas
                        7,59195    French francs                                 8,22461    French francs
                        0,844977 Irish punt                                      0,915392 Irish punt
                    2 050,96       Italian lire                              2 221,88       Italian lire
                        2,55054 Dutch guilders                                   2,76308 Dutch guilders
                      201,464      Portuguese escudos                          218,253      Portuguese escudos
                        0,914453 Pound sterling                                  0,990657 Pound sterling