CELEX: 31994R0106
Language: en
Date: 1994-01-21 00:00:00
Title: Commission Regulation (EC) No 106/94 of 20 January 1994 fixing the agricultural conversion rates

No L 18/ 14                            Official Journal of the European Communities                                  21 . 1 . 94
                                    COMMISSION REGULATION (EC) No 106/94
                                                     of 20 January 1994
                                        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
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 ('), as last amended by Regu­
lation (EC) No 3528/93 (2), and in particular Article 3 (1 )
thereof,                                                          HAS ADOPTED THIS REGULATION :
Whereas the agricultural conversion rates were fixed by
Commission Regulation (EC) No 39/94 (3) ;                                                   Article 1
Whereas Article 4 of Regulation (EEC) No 3813/92                  The agricultural conversion rates are fixed in Annex I
provides that the agricultural conversion rate for a floating     hereto.
currency is to be adjusted where the monetary gap
between it and the representative market rate exceeds                                       Article 2
certain levels ; whereas, notwithstanding that Article 4,
Article 4a of that Regulation applies until 31 December           In the case referred to in Article 15 (3) of Regulation
1994 ;                                                            (EEC) No 1068/93, the agricultural conversion rate fixed
Whereas the representative market rates are determined            in advance shall be replaced by the ecu rate for the
on the basis of reference periods established in accord­          currency concerned, shown in Annex II :
ance with Commission Regulation (EEC) No 1068/93 of               — Table A, where the latter rate is higher than the rate
30 April 1993 on detailed rules for determining and                   fixed in advance,
applying the agricultural conversion rates (4) ;                      or
Whereas, as a consequence of the exchange rates recorded          — Table B, where the latter rate is lower than the rate
during the reference period 11 to 20 January 1994, it is              fixed in advance.
necessary on the one hand to fix the limits referred to in
paragraphs 1 and 3 of Article 4a of Regulation (EEC)                                       Article 3
No 3813/92 at + 4,062 and — 0,938, and on the other
hand to fix a new agricultural conversion rate for the            Regulation (EC) No 39/94 is hereby repealed.
Italian lira and Greek Drachma ;
Whereas Article 15 (3) of Regulation (EEC) No 1068/93                                      Article 4
provides that an agricultural conversion rate fixed in
advance shall be adjusted if the gap between that rate and       This Regulation shall enter into force on 21 January
the agricultural conversion rate in force at the time of the      1994 .
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States.
                 Done at Brussels, 20 January 1994.
                                                                           For the Commission
                                                                              Rene STEICHEN
                                                                        Member of the Commission
(') OJ No L 387, 31 . 12. 1992, p. 1 .
(2) OJ No L 320, 22. 12. 1993, p. 32.
(3) OJ No L 7, 11 . 1 . 1994, p. 7.
b) OJ No L 108, 1 . 5. 1993, p. 106.
 ---pagebreak--- 21 . 1 . 94                       Official Journal of the European Communities                                No L 18 / 15
                                                        ANNEX I
                                              Agricultural conversion rates
                                       ECU 1 -       49,3070     Belgian ana
                                                                 Luxembourg francs
                                                      9,34812    Danish kroner
                                                      2,35418    German marks
                                                    334,226      Greek drachmas
                                                    192,319      Spanish pesetas
                                                      7,98191    French francs
                                                      0,976426   Irish punt
                                                  2 274,93       Italian lire
                                                      2,65256    Dutch guilders
                                                    236,933      Portuguese escudos
                                                      0,920969   Pound sterling
                                                       ANNEX II
                            Agricultural conversion rates fixed in advance and adjusted
                              Table A                                                 Table B
            ECU 1 =    47,4106     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
                      321,371      Greek drachmas                             348,152      Greek drachmas
                      184,922      Spanish pesetas                            200,332      Spanish pesetas
                        7,67491    French francs                                831449     French francs
                        0,938871   Irish punt                                   1,01711    Irish punt
                    2 187,43       Italian lire                             2 369,72       Italian lire
                        2,55054    Dutch guilders                               2,76308    Dutch guilders
                      227,820      Portuguese escudos                         246,805      Portuguese escudos
                        0,885547 Pound sterling                                 0,959343 Pound sterling