CELEX: 31995R0345
Language: en
Date: 1995-02-20 00:00:00
Title: COMMISSION REGULATION (EC) No 345/95 of 20 February 1995 fixing the agricultural conversion rates

21 . 2. 95           ( EN                Official Journal of the European Communities                               No L 39/ 15
                                          COMMISSION REGULATION (EC) No 345/95
                                                        of 20 February 1995
                                            fixing the agricultural conversion rates
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                         necessary to fix a new agricultural conversion rate for the
                                                                     Greek drachma, the Italian lira, the pound Sterling, the
                                                                     Irish pound, the Spanish peseta and the Swedish krona ;
  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
                                                                     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,
 Having regard to Commission Regulation (EC) No 157/95
 of 31 January 1995 laying down transitional measures for
 the abolition of the correcting factor applicable to the
 conversion rates used in the agricultural sector (3), and in        HAS ADOPTED THIS REGULATION :
 particular Article 2 (2) thereof,
                                                                                              Article 1
 Whereas the agricultural conversion rates were fixed by
 Commission Regulation (EC) No 328/95 (4),
                                                                     The agricultural conversion rates are fixed in Annex I
                                                                     hereto .
 Whereas Article 4 of Regulation (EEC) No 3813/92
 provides that, subject to confirmation periods being trig­
                                                                                              Article 2
 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 ;                 1 . In the case referred to in Article 1 5 (2) of Regulation
                                                                     (EEC) No 1068/93, 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 basic reference periods or, where appli­
 cable, confirmation periods, established in accordance
                                                                     — Table A, where the latter rate is higher than the rate
                                                                          fixed in advance,
 with Article 2 of Commission Regulation (EEC) No
 1068/93 of 30 April 1993 on detailed rules for deter­               — Table B, where the latter rate is lower than the rate
 mining and applying the agricultural conversion rates (5),               fixed in advance .
 as last amended by Regulation (EC) No 157/95 ; whereas
 paragraph 2 of that Article provides that, in cases where
 the absolute value of the difference between the monetary           2. However, in the case of agricultural conversion rates
                                                                     fixed in advance before 1 February 1995, the ecu rates
gaps in two Member States, calculated from the average of
 the ecu rates for three consecutive quotation days, exceeds         listed in Annex II shall be replaced by those set out in
                                                                     Annex III.
 six points, the representative market rates are to be
 adjusted on the basis of the three quotation days in ques­
 tion :
                                                                                              Article 3
Whereas, as a consequence of the exchange rates recorded             Regulation (EC) No 328/95 is hereby repealed.
during the reference period 17 to 20 February 1995, it is
(')  OJ  No  L 387, 31 . 12. 1992, p. 1 .                                                     Article 4
(2)  OJ  No  L 22, 31 . 1 . 1995, p. 1 .
(-') OJ  No  L 24, 1 . 2. 1995, p. 1 .
0    OJ  No  L 37, 17. 2. 1995, p. 30.                              This Regulation shall enter into force on 21 February
(5)  OJ  No  L 108 , 1 . 5. 1993, p. 106.                            1995.
 ---pagebreak--- No L 39/ 16     PEN                  Official Journal of the European Communities                                 21 . 2 . 95
              This Regulation shall be binding in its entirety and directly applicable in all Member
              States.
              Done at Brussels, 20 February 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
                                                    296,492     Greek drachmas
                                                    198,202     Portuguese escudos
                                                      6,61023   French francs
                                                      5,88000   Finnish marks
                                                      2,19672   Dutch guilders
                                                      0,809785  Irish punt
                                                  2 041,84      Italian lire
                                                     13,7190    Austrian schillings
                                                    164,452     Spanish pesetas
                                                     9,32044    Swedish kroner
                                                      0,805837  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
                        285,088      Greek drachmas                            308,846        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
                          0,778639   Irish punt                                   0,843526    Irish punt
                      1 963,31       Italian lire                            2 126,92         Italian lire
                         13,1913     Austrian schillings                         14,2906      Austrian schillings
                        158,127      Spanish pesetas                            171,304       Spanish pesetas
                          8,96196    Swedish kroner                               9,70879     Swedish kroner
                          0,774848   Pound sterling                               0,839414    Pound sterling
 ---pagebreak--- 21 . 2. 95     I ETsM               Official Journal of the European Communities                            No T. 39 / 17
                                                        ANNEX III
           Agricultural conversion rates fixed 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
                       344,246      Greek drachmas                        372,934       Greek drachmas
                       230,126      Portuguese escudos                    249,302       Portuguese escudos
                         7,67492    French francs                           8,31450     French francs
                         6,82707    Finnish marks                           7,39599     Finnish marks
                         2,55054    Dutch guilders                          2,76308     Dutch guilders
                         0,940214   Irish punt                              1,01857     Irish punt
                     2 370,71       Italian lire                        2 568,28        Italian lire
                        15,9286     Austrian schillings                    17,2560      Austrian schillings
                       190,940      Spanish pesetas                       206,851       Spanish pesetas
                        10,8216     Swedish kroner                         11,7235      Swedish kroner
                         0,935630   Pound sterling                          1,01360     Pound sterling