CELEX: 31994R3131
Language: en
Date: 1994-12-21 00:00:00
Title: Commission Regulation (EC) No 3131/94 of 20 December 1994 fixing the agricultural conversion rates

21 . 12. 94                             Official Journal of the European Communities                             No L 330/55
                                    COMMISSION REGULATION (EC) No 3131/94
                                                    of 20 December 1994
                                         fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       operative event applicable for the currency concerned
Having regard to the Treaty establishing the European             exceeds four points ; whereas, in that event, the agricul­
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 ('), as last amended by Regu­
lation (EC) No 3528/93 (2), and in particular Article 3 (1 )
thereof,                                                          HAS ADOPTED THIS REGULATION :
Whereas the agricultural conversion rates were fixed by
                                                                                            Article 1
Commission Regulation (EC) No 2927/94 (3) ;
Whereas Article 4 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 is to be adjusted where the monetary gap
between it and the representative market rate exceeds                                       Article 2
certain levels ; whereas, notwithstanding that Article 4,
Article 4a of that Regulation applies until 31 December            In the case referred to in Article 15 (3) of Regulation
 1994 ;                                                           (EEC) No 1068/93, the agricultural conversion rate fixed
Whereas the representative market rates are determined            in advance shall be replaced by the ecu rate for the
on the basis of reference periods established in accord­          currency concerned, shown in Annex II :
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 (4), as amended
by Regulation (EC) No 547/94 f) ;                                     or
Whereas, as a consequence of the exchange rates recorded          — Table B, where the latter rate is lower than the rate
during the reference period 11 to 20 December 1994, it is             fixed in advance .
necessary on the one hand to fix the limits referred to in
paragraphs 1 and 3 of Article 4a of Regulation (EEC)                                        Article 3
No 3813/92 at + 3,761 and — 1,239 and on the other
hand to fix a new agricultural conversion rate for the             Regulation (EC) No 2927/94 is hereby repealed.
 Italian lira ;
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 21 December
the agricultural conversion rate in force at the time of the       1994.
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States.
                 Done at Brussels, 20 December 1994.
                                                                            For the Commission
                                                                              Rene STEICHEN
                                                                        Member of the Commission
 (') OJ No L 387, 31 . 12. 1992, p. 1 .
O    OJ No L 320, 22. 12. 1993, p. 32.
 (3) OJ No L 307, 1 . 12. 1994, p. 57.
 (♦) OJ No L 108, 1 . 5. 1993, p. 106.
 M OJ No L 69, 12. 3. 1994, p. 1 .
 ---pagebreak--- No L 330/56                      Official Journal of the European Communities                                21 . 12. 94
                                                       ANNEX I
                                             Agricultural conversion rates
                                     ECU 1    =     49,3070     Belgian and
                                                                Luxembourg francs
                                                     9,34812    Danish kroner
                                                     2,35418    German marks
                                                   352,829      Greek drachmas
                                                   192,319      Spanish pesetas
                                                     7,98191    French francs
                                                     0,976426   Irish punt
                                                 2 383,42       Italian lire
                                                     2,65256    Dutch guilders
                                                   239,331      Portuguese escudos
                                                     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
                    339,259      Greek drachmas                              367,530      Greek drachmas
                    184,922      Spanish pesetas                             200,332      Spanish pesetas
                      7,67491    French francs                                 8,31449    French francs
                      0,938871   Irish punt                                    1,01711    Irish punt
                  2 291,75       Italian lire                              2 482,73       Italian lire
                      2,55054 Dutch guilders                                   2,76308    Dutch guilders
                    230,126      Portuguese escudos                          249,303      Portuguese escudos
                      0,916899 Pound sterling                                  0,993307 Pound sterling