CELEX: 31996R0761
Language: en
Date: 1996-04-25 00:00:00
Title: COMMISSION REGULATION (EC) No 761/96 of 25 April 1996 fixing the agricultural conversion rates

26. 4. 96            EN                Official Journal of the European Communities                             No L 103 / 33
                                    COMMISSION REGULATION (EC) No 761 /96
                                                      of 25 April 1996
                                        fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                      advance is to be adjusted it 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 1 50/95 (2), and in particular Article 3 (1 )     should be specified,
thereof,
Whereas the agricultural conversion rates were fixed by
Commission Regulation (EC) No 677/96 (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
                                                                 hereto .
representative market rate exceeds certain levels;
Whereas the representative market rates are determined
on the basis of basic reference periods or, where appli­                                   Article 2
cable, confirmation periods, established in accordance
with Article 2 of Commission Regulation (EEC) No                 In the case referred to in Article 15 (3) of Regulation
1068/93 of 30 April 1993 on detailed rules for deter­            (EEC) No 1068/93, the agricultural conversion rate fixed
mining and applying the agricultural conversion rates (4),       in advance shall be replaced by the ecu rate for the
as last amended by Regulation (EC) No 2853/95 Q;                 currency concerned, shown in Annex II:
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
in question;                                                                               Article 3
Whereas, as a consequence of the exchange rates recorded         Regulation (EC) No 677/96 is hereby repealed .
from 16 to 25 April 1996, it is necessary to fix a new agri­
cultural conversion rate for the Italian lira;
                                                                                           Article 4
Whereas Article 15 (2) of Regulation (EEC) No 1068/93
provides that an agricultural conversion rate fixed in           This Regulation shall enter into force on 26 April 1996.
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States.
                 Done at Brussels, 25 April 1996.
                                                                           For the Commission
                                                                             Franz FISCHLER
                                                                       Member of the Commission
(') OJ No L 387, 31 . 12. 1992, p. 1 .
0 OJ No L 22, 31 . 1 . 1995, p. 1 .
(3) OJ No L 94, 16. 4. 1996, p. 8 .
(j OJ No L 108, 1 . 5. 1993, p. 106.
0 OJ No L 299, 12. 12. 1995, p. 1 .
 ---pagebreak--- No L 103/34   I EN                Official Journal of the European Communities                                 26. 4. 9b
                                                          ANNEX I
                                              Agricultural conversion rates
                                  ECU 1 =          39,5239    Belgian and
                                                              Luxembourg francs
                                                    7,49997   Danish kroner
                                                    1,90616   German marks
                                                  311,761     Greek drachmas
                                                  198,202     Portuguese escudos
                                                    6,61023   French francs
                                                    5,95530   Finnish marks
                                                    2,14021   Dutch guilders
                                                    0,829498  Irish punt
                                                2 030,40      Italian lire
                                                   13,4084    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
                       1,83285     German marks                                1,98558     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
                       5,72625     Finnish marks                               6,20344     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
                      12,8927      Austrian schillings                        13,9671      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