CELEX: 31997R1535
Language: en
Date: 1997-07-31 00:00:00
Title: COMMISSION REGULATION (EC) No 1535/97 of 31 July 1997 fixing the agricultural conversion rates

1 . 8 . 97          I EN I                Official Journal of the European Communities                             No L 206/ 19
                                        COMMISSION REGULATION (EC) No 1535 /97
                                                          of 31 July 1997
                                           fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                         Danish krone, the German mark, the Portuguese escudo,
                                                                    the Dutch guilder, the Austrian schilling and the Spanish
Having regard to the Treaty establishing the European               peseta;
Community,
                                                                    Whereas Article 15 (2) of Regulation (EEC) No 1068/93
Having regard to Council Regulation (EEC) No 3813/92                provides that an agricultural conversion rate fixed in
of 28 December 1992 on the unit of account and the                  advance is to be adjusted if the gap between that rate and
conversion rates to be applied for the purposes of the              the agricultural conversion rate in force at the time of the
common agricultural policy ('), as last amended by Regu­            operative event applicable for the amount concerned
lation (EC) No 1 50/95 (2), and in particular Article 3 ( 1 )       exceeds four points; whereas, in that event, the agricul­
thereof,                                                            tural conversion rate fixed in advance is brought more
                                                                    closely into line with the rate in force, up to the level of a
Whereas the agricultural conversion rates were fixed by             gap of four points with that rate; whereas the rate which
Commission Regulation (EC) No 1398/97 (3);                           replaces the agricultural conversion rate fixed in advance
                                                                     should be specified,
Whereas Article 4 of Regulation (EEC) No 3813/92
provides that, subject to confirmation periods being trig­           HAS ADOPTED THIS REGULATION :
gered, the agricultural conversion rate for a currency is to
be adjusted where the monetary gap between it and the                                         Article 1
representative market rate exceeds certain levels;                  The agricultural conversion rates are fixed in Annex I
                                                                     hereto .
Whereas the representative market rates are determined
on the basis of basic reference periods or, where applic­                                     Article 2
able, confirmation periods, established in accordance with
Article 2 of Commission Regulation (EEC) No 1068/93 of               In the case referred to in Article 15 (3) of Regulation
30 April 1993 on detailed rules for determining and                  (EEC) No 1068/93, the agricultural conversion rate fixed
applying the agricultural conversion rates (4), as last              in advance shall be replaced by the ecu rate for the
amended by Regulation (EC) No 1482/96 (^ whereas                     currency concerned, shown in Annex II:
paragraph 2 of that Article provides that, in cases where           — Table A, where the latter rate is higher than the rate
the absolute value of the difference between the monetary                fixed in advance,
gaps in two Member States, calculated from the average of            — Table B, where the latter rate is lower than the rate
the ecu rates for three consecutive quotation days, exceeds              fixed in advance .
six points, the representative market rates are to be
adjusted on the basis of the three quotation days in                                          Article 3
question;
                                                                     Regulation (EC) No 1398/97 is hereby repealed.
Whereas, as a consequence of the exchange rates recorded                                      Article 4
from 21 July to 31 July 1997, it is necessary to fix a new
agricultural conversion rate for the Belgian franc, the              This Regulation shall enter into force on 1 August 1997 .
                  This Regulation shall be binding in its entirety and directly applicable in all Member
                  States .
                   Done at Brussels, 31 July 1997.
                                                                               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 .
(3) OJ   No L 190, 19. 7. 1997, p. 44.
{*) OJ   No L 108 , 1 . 5. 1993, p. 106.
0   OJ   No L 188 , 27. 7. 1996, p. 22.
 ---pagebreak--- No L 206/20      EN               Official Journal of the European Communities                                 1 . 8 . 97
                                                          ANNEX I
                                              Agricultural conversion rates
                                   ECU 1 =         40,9321    Belgian and
                                                              Luxembourg francs
                                                    7,54917   Danish kroner
                                                    1,98243   German marks
                                                  312,011     Greek drachmas
                                                  200,230     Portuguese escudos
                                                    6,68769   French francs
                                                    6,02811   Finnish marks
                                                    2,23273   Dutch guilders
                                                    0,759189  Irish punt
                                                1 973,93      Italian lire
                                                   13,9485    Austrian schillings
                                                  167,111     Spanish pesetas
                                                    8,88562   Swedish kroner
                                                    0,720829  Pound sterling
                                                          ANNEX II
                            Agricultural conversion rates fixed in advance and adjusted
                              Table A                                                 Table B
           ECU 1 =     39,3578      Belgian and                ECU 1 =        42,6376      Belgian and
                                    Luxembourg francs                                      Luxembourg francs
                        7,25882     Danish kroner                              7,86372     Danish kroner
                        1,90618     German marks                               2,06503     German marks
                      300,011       Greek drachmas                           325,01 1      Greek drachmas
                      192,529       Portuguese escudos                       208,573       Portuguese escudos
                        6,43047     French francs                              6,96634     French francs
                        5,79626     Finnish marks                              6,27928     Finnish marks
                        2,14686     Dutch guilders                             2,32576     Dutch guilders
                        0,729989    Irish punt                                 0,790822    Irish punt
                    1 898,01        Italian lire                           2 056,18        Italian lire
                       13,4120      Austrian schillings                       14,5297      Austrian schillings
                      160,684       Spanish pesetas                          174,074       Spanish pesetas
                        8,54387     Swedish kroner                             9,25585     Swedish kroner
                        0,693105    Pound sterling                             0,750864    Pound sterling