CELEX: 31995R0047
Language: en
Date: 1995-01-12 00:00:00
Title: COMMISSION REGULATION (EC) No 47/95 of 12 January 1995 fixing the agricultural conversion rates

13 . 1 . 95                               Official Journal of the European Communities                                No L 9/ 19
                                           COMMISSION REGULATION (EC) No 47/95
                                                          of 12 January 1995
                                             fixing the agricultural conversion rates
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                          No 3813/92 at + 4,220 and — 0,780 and of the other
                                                                      part to fix a new agricultural conversion rate for the
 Having regard to the Treaty establishing the European                Spanish peseta and Swedish krone ;
 Community,
                                                                      Whereas Article 15 (3) oif Regulation (EEC) No 1068/93
                                                                      provides that an agricultural conversion rate fixed in
 Having regard to Council Regulation (EEC) No 3813/92                 advance shall 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 currency concerned
 common agricultural policy ('), as last amended by Regu­             exceeds four points ; whereas, in that event, the agricul­
 lation (EC) No 3528/93 (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 28/95 (3) ;                            should be specified,
 Whereas Article 4 of Regulation (EEC) No 3813/92
 provides that the agricultural conversion rate for a floating
 currency is to be adjusted where the monetary gap                    HAS ADOPTED THIS REGULATION :
 between it and the representative market rate exceeds
 certain levels ; whereas, notwithstanding that Article 4,
Article 4a of that Regulation applies until 31 December
 1994 ; whereas Council Regulation (EC) No 331 1 /94 (4)                                        Article 1
 extends these provisions until 31 January 1995 ;
                                                                      The agricultural conversion rates are fixed in Annex I
Whereas the representative market rates are determined                hereto.
 on the basis of reference periods established in accord­
 ance with Commission Regulation (EEC) No 1068/93 of
 30 April 1993 on detailed rules for determining and
 applying the agricultural conversion rates (5), as amended                                     Article 2
by Regulation (EC) No 547/94 (6) ;
Whereas, however, Article 2 of Regulation (EEC)                       In the case referred to in Article 1 5 (3) of Regulation
 No 1608/93 provides that, in cases where the absolute                (EEC) No 1068/93, the agricultural conversion rate fixed
value of the difference between the monetary gaps in two              in advance shall be replaced by the ecu rate for the
Member States, calculated from the average on the ecu                 currency concerned, shown in Annex II :
 rates for three consecutive working days, exceeds six
points :                                                              — Table A, where the latter rate is higher than the rate
                                                                          fixed in advance,
— the representative market rates for the currencies in
      question shall be adjusted on the basis of the three                or
      working days in question,
      and                                                             — Table B, where the latter rate is lower than the rate
                                                                          fixed in advance .
— the basic reference period concerned begins the day
      following these three working days ;
Whereas, as a consequence of the exchange rates recorded                                        Article 3
during the reference period 11 to 12 January 1995, it is
necessary of the one part to fix the limits referred to in
paragraphs 1 and 3 of Article 4a of Regulation (EEC)                  Regulation (EC) No 28/95 is hereby repealed.
(') OJ    No  L 387, 31 . 12. 1992, p. 1 .
(2) OJ    No  L 320, 22. 12. 1993, p. 32.                                                       Article 4
(3) OJ    No  L 7, 11 . 1 . 1995, p. 1 .
(4) OJ    No  L 350, 31 . 12. 1994, p. 1 .
O   OJ    No  L 108, 1 . 5. 1993, p. 106.                             This Regulation shall enter into force on 13 January
(6) OJ    No  L 69, 12. 3. 1994, p. 1 .                               1995.
 ---pagebreak--- No L 9/20                            Official Journal of the European Communities                                  1T 1 . 95
             This Regulation shall be binding in its entirety and directly applicable in all Member
             States .
             Done at Brussels, 12 January 1995.
                                                                              For the Commission
                                                                                 Rene STEICHEN
                                                                           Member of the Commission
                                                             ANNEX I
                                                  Agricultural conversion rates
                                     ECU 1     =      49,3070    Belgian and
                                                                 Luxembourg francs
                                                       9,34812   Danish kroner
                                                       2,35418   German marks
                                                     354,617     Greek drachmas
                                                     239,331     Portuguese escudos
                                                       7,98191   French francs
                                                       7,02071   Finnish marks
                                                       2,65256   Dutch guilders
                                                       0,976426  Irish punt
                                                   2 395,55      Italian lire
                                                      16,5658    Austrian schillings
                                                     198,007     Spanish pesetas
                                                      11,0985    Swedish Kroner
                                                       0.953575  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
                        340,978      Greek drachmas                             369,393        Greek drachmas
                        230,126      Portuguese escudos                         249,303        Portuguese escudos
                          7,67491    French francs                                 8,31449     French francs
                          6,75068    Finnish marks                                 7,31324     Finnish marks
                          2,55054    Dutch guilders                                2,76308     Dutch guilders
                          0,938871   Irish punt                                    1,01711     Irish punt
                      2 303,41       Italian lire                             2 495,36         Italian lire
                         15,9287     Austrian schillings                          17,2560      Austrian schillings
                        190,391      Spanish pesetas                            206,257        Spanish pesetas
                         10,6716     Swedish Kroner                               11,5609      Swedish Kroner
                          0,916899   Pound sterling                                0,993307    Pound sterling