CELEX: 31996R2221
Language: en
Date: 1996-11-20 00:00:00
Title: COMMISSION REGULATION (EC) No 2221/96 of 20 November 1996 fixing the agricultural conversion rates

No L 296/48         HENI                Official Journal of the European Communities                                 21 . 11 . 96
                                          COMMISSION REGULATION (EC) No 2221 /96
                                                        of 20 November 1996
                                             fixing the agricultural conversion rates
   THE COMMISSION OF THE EUROPEAN COMMUNITIES,                         advance is to be adjusted if the gap between that rate and
   Having regard to the Treaty establishing the European               the agricultural conversion rate in force at the time of the
   Community,                                                         operative event applicable for the amount concerned
                                                                      exceeds four points; whereas, in that event, the agricul­
   Having regard to Council Regulation (EEC) No 3813/92               tural conversion rate fixed in advance is brought more
   of 28 December 1992 on the unit of account and the
                                                                      closely into line with the rate in force, up to the level of a
   conversion rates to be applied for the purposes of the             gap of four points with that rate; whereas the rate which
   common agricultural policy ('), as last amended by Regu­           replaces the agricultural conversion rate fixed in advance
   lation (EC) No 150/95 (2), and in particular Article 3 ( 1 )       should be specified,
   thereof,
   Whereas the agricultural conversion rates were fixed by
                                                                      HAS ADOPTED THIS REGULATION :
   Commission Regulation (EC) No 2145/96 (3);
   Whereas Article 4 of Regulation (EEC) No 3813/92                                             Article 1
   provides that, subject to confirmation periods being trig­
  gered, the agricultural conversion rate for a currency is to        The agricultural conversion rates are fixed in Annex I
  be adjusted where the monetary gap between it and the               hereto .
  representative market rate exceeds certain levels;
  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 0; 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
 gaps in two Member States, calculated from the average of           — Table B, where the latter rate is lower than the rate
 the ecu rates for three consecutive quotation days, exceeds              fixed in advance .
 six points, the representative market rates are to be
 adjusted on the basis of the three quotation days in ques­                                    Article 3
 tion ;
 Whereas, as a consequence of the exchange rates recorded
                                                                     Regulation (EC) No 2145/96 is hereby repealed .
 from 10 to 20 November 1996, it is necessary to fix a new
 agricultural conversion rate for the Belgian franc;                                           Article 4
 Whereas Article 15 (2) of Regulation (EEC) No 1068/93               This Regulation shall enter into force on 21 November
 provides that an agricultural conversion rate fixed in              1996 .
                    This Regulation shall be binding in its entirety and directly applicable in all Member
                    States .
                    Done at Brussels, 20 November 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 .
(3)  OJ  No L  286, 8 . 11 . 1996, p. 14.
(4)  OJ  No L  108 , 1 . 5. 1993, p. 106.
 5   OJ  No L  188 , 27. 7. 1996, p. 22.
 ---pagebreak--- 21 . 11 . 96        EN                 Official Journal of the European Communities                                No L 296/49
                                                               ANNEX I
                                                    Agricultural conversion rates
                                        ECU 1 =         39,6918    Belgian and
                                                                   Luxembourg francs
                                                         7,49997   Danish kroner
                                                         1,92441   German marks
                                                       311,761     Greek drachmas
                                                       198,202     Portuguese escudos
                                                         6,61023   French francs
                                                         6,02811   Finnish marks
                                                         2,15852   Dutch guilders
                                                         0,812908  Irish punt
                                                     1 973,93      Italian lire
                                                        13,5396    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 =      38,1652       Belgian and                ECU 1 =         41,3456      Belgian and
                                        Luxembourg francs                                       Luxembourg francs
                           7,21151      Danish kroner                               7,81247     Danish kroner
                           1,85039      German marks                                2,00459     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
                           2,07550      Dutch guilders                              2,24846     Dutch guilders
                           0,781642     Irish punt                                  0,846779    Irish punt
                       1 898,01         Italian lire                            2 056,18        Italian lire
                          13,0188       Austrian schillings                        14,1038     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