CELEX: 31996R0936
Language: en
Date: 1996-05-24 00:00:00
Title: COMMISSION REGULATION (EC) No 936/96 of 24 May 1996 fixing the agricultural conversion rates

No L 127/24         EN               Official Journal of the European Communities                                   25. 5. 96
                                       COMMISSION REGULATION (EC) No 936/96
                                                       of 24 May 1996
                                          fixing the agricultural conversion rates
  THE COMMISSION OF THE EUROPEAN COMMUNITIES,                      Whereas Article 15 (2) of Regulation (EEC) No 1068/93
                                                                   provides that an agricultural conversion rate fixed in
  Having regard to the Treaty establishing the European            advance is to be adjusted if the gap between that rate and
  Community,                                                       the agricultural conversion rate in force at the time of the
  Having regard to Council Regulation (EEC) No 3813/92             operative event applicable for the amount concerned
  of 28 December 1992 on the unit of account and the               exceeds four points; whereas, in that event, the agricul­
  conversion rates to be applied for the purposes of the           tural conversion rate fixed in advance is brought more
  common agricultural policy ('), as last amended by Regu­         closely into line with the rate in force, up to the level of a
  lation (EC) No 1 50/95 (2), and in particular Article 3 (1 )    gap of four points with that rate; whereas the rate which
  thereof,                                                         replaces the agricultural conversion rate fixed in advance
                                                                  should be specified,
  Whereas the agricultural conversion rates were fixed by
  Commission Regulation (EC) No 826/96 (3);
                                                                  HAS ADOPTED THIS REGULATION :
  Whereas Article 4 of Regulation (EEC) No 3813/92
  provides that, subject to confirmation periods being trig­                                Article 1
 gered, the agricultural conversion rate for a currency is to
  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 appli­
 cable, confirmation periods, established in accordance           In the case referred to in Article 15 (3) of Regulation
 with Article 2 of Commission Regulation (EEC) No                 (EEC) No 1068/93, the agricultural conversion rate fixed
  1068/93 of 30 April 1993 on detailed rules for deter­           in advance shall be replaced by the ecu rate for the
 mining and applying the agricultural conversion rates (4),       currency concerned, shown in Annex II:
 as last amended by Regulation (EC) No 2853/95 (*);
 whereas paragraph 2 of that Article provides that, in cases     — Table A, where the latter rate is higher than the rate
 where the absolute value of the difference between the                fixed in advance,
 monetary gaps in two Member States, calculated from the         — Table B, where the latter rate is lower than the rate
 average of the ecu rates for three consecutive quotation              fixed in advance .
 days, exceeds six points, the representative market rates
 are to be adjusted on the basis of the three quotation days                                Article 3
 in question;
                                                                 Regulation (EC) No 826/96 is hereby repealed.
 Whereas, as a consequence of the exchange rates recorded
 from 18 to 27 May 1996, it is necessary to fix a new agri­                                 Article 4
 cultural conversion rate for the German mark and the
 Austrian schilling;                                             This Regulation shall enter into force on 28 May 1996.
                  This Regulation shall be binding in its entirety and directly applicable in all Member
                  States.
                  Done at Brussels, 24 May 1996.
                                                                            For the Commission
                                                                              Franz FISCHLER
                                                                        Member of the Commission
(') OJ No L 387, 31 . 12. 1992, p. 1 .
I1) OJ No L 22, 31 . 1 . 1995, p. 1 .
O OJ No L 111 , 4. 5. 1996, p. 16.
0 OJ No L 108 , 1 . 5. 1993, p. 106.
0 OJ No L 299, 12. 12. 1995, p. 1 .
 ---pagebreak--- 25. 5. 96       EN                  Official Journal of the European Communities                                 No L 127/25
                                                            ANNEX I
                                                 Agricultural conversion rates
                                    ECU 1            39,5239    Belgian and
                                                                Luxembourg francs
                                                      7,49997   Danish kroner
                                                      1,91308   German marks
                                                    311,761     Greek drachmas
                                                    198,202     Portuguese escudos
                                                      6,61023   French francs
                                                      6,02811   Finnish marks
                                                      2,14021   Dutch guilders
                                                      0,829498  Irish punt
                                                  2 030,40      Italian lire
                                                     13,4614    Austrian schillings
                                                    165,198     Spanish pesetas
                                                      8,93762   Swedish kroner
                                                      0,856563  Pound sterling
                                                           ANNEX II
                            Agricultural conversion rates fixed in advance and adjusted
                               Table A                                                   Table B
          ECU 1 =     38,0038        Belgian and                ECU 1 =         41,1707       Belgian and
                                     Luxembourg francs                                        Luxembourg francs
                        7,21151      Danish kroner                               7,81247      Danish kroner
                        1,83950      German marks                                1 ,99279     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
                        2,05789      Dutch guilders                              2,22939      Dutch guilders
                        0,797594     Irish punt                                  0,864060     Irish punt
                   1 952,31          Italian lire                            2 115,00         Italian lire
                      1 2,9437       Austrian schillings                        14,0223      Austrian schillings
                     158,844         Spanish pesetas                           172,081       Spanish pesetas
                        8,59387      Swedish kroner                              9,31002     Swedish kroner
                        0,823618     Pound sterling                              0,892253    Pound sterling