CELEX: 31993R2121
Language: en
Date: 1993-07-31 00:00:00
Title: Commission Regulation (EEC) No 2121/93 of 30 July 1993 fixing the agricultural conversion rates

No L 191 /52                          Official Journal of the European Communities                                    31 . 7 . 93
                                   COMMISSION REGULATION (EEC) No 2121 /93
                                                         of 30 July 1993
                                         fixing the agricultural conversion rates
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       the agricultural conversion rate in force at the time of the
                                                                   operative event applicable for the currency concerned
 Having regard to the Treaty establishing the European             exceeds four points ; whereas, in that event, the agricul­
 Economic Community,                                               tural conversion rate fixed in advance is brought more
                                                                   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 ('), and in particular
 Article 3 ( 1 ),
                                                                   HAS ADOPTED THIS REGULATION :
 Whereas the agricultural conversion rates were fixed by
 Commission Regulation (EEC) No 2102/93 (2);                                                Article 1
 Whereas Article 4 ( 1 ) 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 shall be adjusted where the monetary gap with
 the representative market rate for the last reference period
                                                                                            Article 2
 of a month exceeds two points ; whereas, in that case, the
 new agricultural conversion rate is fixed so as to reduce
 that monetary gap by half ;                                       In the case referred to in Article 15 (3) of Regulation
                                                                   (EEC) No 1068/93, the agricultural conversion rate fixed
                                                                   in advance shall be replaced by the ecu rate for the
 Whereas the representative market rates are determined            currency concerned, shown in Annex II :
 on the basis of reference periods determined in accord­
 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 (3) ;                      or
                                                                   — Table B, where the latter rate is lower than the rate
 Whereas, as a consequence of the exchange rates recorded              fixed in advance .
 during the reference period 26 to 30 July 1993 for the
 pound sterling and 30 July 1993 for the Spanish peseta
 and the Portuguese escudo, it is necessary to fix a new                                    Article 3
 agricultural conversion rate for the Spanish peseta, Portu­
guese escudo and the pound sterling ;                              Regulation (EEC) No 2102/93 is hereby repealed.
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 1 August 1993 .
                  This Regulation shall be binding in its entirety and directly applicable in all Member
                  States .
                  Done at Brussels, 30 July 1993 .
                                                                            For the Commission
                                                                               Rene STEICHEN
                                                                        Member of the Commission
(*) OJ No L 387, 31 . 12. 1992, p. 1 .
(2) OJ No L 190, 30. 7. 1993, p. 50 .
(3) OJ No L 108, 1 . 5. 1993, p. 106.
 ---pagebreak--- 31 . 7. 93                       Official Journal of the European Communities                                No L 191 /53
                                                       ANNEX I
                                              Agricultural conversion rates
                                      ECU 1 =        48,5563    Belgian and
                                                                Luxembourg francs
                                                      8,97989   Danish kroner
                                                      2,3541 8  German marks
                                                    319,060     Greek drachmas
                                                    190,382     Spanish pesetas
                                                      7,89563   French francs
                                                      0,976426  Irish punt
                                                  2 166,58      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 =    46,6888     Belgian and                  ECU 1 -        50,5795     Belgian and
                                   Luxembourg francs                                      Luxembourg francs
                       8,63451    Danish kroner                                9,35405    Danish kroner
                       2,26363    German marks                                 2,45227    German marks
                     306,788      Greek drachmas                             332,354      Greek drachmas
                     183,060      Spanish pesetas                            198,315      Spanish pesetas
                       7,59195    French francs                                8,22461    French francs
                       0,938871    Irish punt                                  1,01711    Irish punt
                   2 083,25        Italian lire                            2 256,85       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