CELEX: 31996R2112
Language: en
Date: 1996-10-31 00:00:00
Title: COMMISSION REGULATION (EC) No 2112/96 of 31 October 1996 fixing the agricultural conversion rates

No L 282/62           EN                Official Journal of the European Communities                                  1 . 11 . 96
                                      COMMISSION REGULATION (EC) No 2112/96
                                                     of 31 October 1996
                                          fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       Dutch guilder, the German mark, the Belgian franc and
                                                                  the pound sterling,
Having regard to the Treaty establishing the European             Whereas Article 15 (2) of Regulation (EEC) No 1068/93
Community,
                                                                  provides that an agricultural conversion rate fixed in
Having regard to Council Regulation (EEC) No 3813/92              advance is to be adjusted if the gap between that rate and
of 28 December 1992 on the unit of account and the                the agricultural conversion rate in force at the time of the
conversion rates to be applied for the purposes of the            operative event applicable for the amount concerned
common agricultural policy ('), as last amended by Regu­          exceeds four points; whereas, in that event, the agricul­
lation (EC) No 1 50/95 (2), and in particular Article 3 ( 1 )     tural conversion rate fixed in advance is brought more
thereof,                                                          closely into line with the rate in force, up to the level of a
                                                                  gap of four points with that rate; whereas the rate which
Whereas the agricultural conversion rates were fixed by           replaces the agricultural conversion rate fixed in advance
Commission Regulation (EC) No 2006/96 (3);                        should be specified,
Whereas Article 4 of Regulation (EEC) No 3813/92                  HAS ADOPTED THIS REGULATION :
provides that, subject to confirmation periods being trig­
gered, the agricultural conversion rate for a currency is to                                Article 1
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 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 (^); 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         — Table B, where the latter rate is lower than the rate
gaps in two Member States, calculated from the average of             fixed in advance .
the ecu rates for three consecutive quotation days, exceeds
six points, the representative market rates are to be                                       Article 3
adjusted on the basis of the three quotation days in ques­        Regulation (EC) No 2006/96 is hereby repealed .
tion ;
                                                                                            Article 4
Whereas, as a consequence of the exchange rates recorded
from 21 to 31 October 1996, it is necessary to fix a new          This Regulation shall enter into force on 1 November
agricultural conversion rate for the Austrian schilling, the      1996 .
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States .
                 Done at Brussels, 31 October 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 .
O OJ No L 267, 19. 10 . 1996, p. 17.
(4) OJ No L 108 , 1 . 5. 1993, p. 106.
K OJ No L 188, 27. 7. 1996, p. 22.
 ---pagebreak--- 1 . 11 . 96       EN               Official Journal of the European Communities                                  No L 282/ 63
                                                            ANNEX I
                                               Agricultural conversion rates
                                    ECU 1 =          39,641 1   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
                                                      0,829498  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 =     38,1164      Belgian and                 ECU 1 =        41,2928      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
                         0,797594    Irish punt                                  0,864060    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