CELEX: 31994R1972
Language: en
Date: 1994-07-30 00:00:00
Title: Commission Regulation (EC) No 1972/94 of 29 July 1994 fixing the agricultural conversion rates

No L 198/ 114                            Official Journal of the European Communities                                  30 . 7. 94
                                        COMMISSION REGULATION (EC) No 1972/94
                                                          of 29 July 1994
                                            fixing the agricultural conversion rates
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                         Whereas Article 15 (3) of Regulation (EEC) No 1068/93
                                                                     provides that an agricultural conversion rate fixed in
 Having regard to the Treaty establishing the European               advance shall be adjusted if the gap between that rate and
 Community,                                                          the agricultural conversion rate in force at the time of the
                                                                     operative event applicable for the currency concerned
 Having regard to Council Regulation (EEC) No 3813/92                exceeds four points ; whereas, in that event, the agricul­
 of 28 December 1992 on the unit of account and the                  tural conversion rate fixed in advance is brought more
 conversion rates to be applied for the purposes of the              closely into line with the rate in force, up to the level of a
 common agricultural policy ('), as last amended by Regu­            gap of four points with that rate ; whereas the rate which
 lation (EC) No 3528/93 (2), and in particular Article 3 ( 1 )       replaces the agricultural conversion rate fixed in advance
 thereof,                                                            should be specified,
 Whereas the agricultural conversion rates were fixed by             HAS ADOPTED THIS REGULATION :
 Commission Regulation (EC) No 171 1 /94 (3) ;
                                                                                              Article 1
 Whereas Article 4 of Regulation (EEC) No 3813/92
 provides that the agricultural conversion rate for a floating       The agricultural conversion rates are fixed in Annex I
                                                                     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
                                                                     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 established in accord­
 ance with Commission Regulation (EEC) No 1068/93 of                 — Table A, where the latter rate is higher than the rate
                                                                         fixed in advance,
 30 April 1993 on detailed rules for determining and
                                                                         or
 applying the agricultural conversion rates (4), as amended
 by Regulation (EC) No 547/94 0 ;                                    — Table B, where the latter rate is lower than the rate
                                                                         fixed in advance.
 Whereas, as a consequence of the exchange rates recorded
 during the reference period 21 to 31 July 1994, it is                                        Article 3
 necessary on the one hand to fix the limits referred to in          Regulation (EC) No 1711 /94 is hereby repealed.
 paragraphs 1 and 3 of Article 4a of Regulation (EEC)
 No 3813/92 at + 3,270 and — 1,730 and on the other                                           Article 4
 hand to fix a new agricultural conversion rate for the
 Italian lira ;                                                      This Regulation shall enter into force on 1 August 1994.
                    This Regulation shall be binding in its entirety and directly applicable in all Member
                    States.
                    Done at Brussels, 29 July 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  180, 14. 7. 1994, p. 28 .
(") OJ  No   L  108, 1 . 5. 1993, p. 106.
O   OJ  No   L  69, 12. 3. 1994, p. 1 .
 ---pagebreak--- 30 . 7. 94                        Official Journal of the European Communities                                No L 198 / 115
                                                        ANNEX I
                                              Agricultural conversion rates
                                      ECU 1    =     49,3070     Belgian and
                                                                 Luxembourg francs
                                                      9,34812    Danish kroner
                                                      2,35418    German marks
                                                    346,789      Greek drachmas
                                                    192,319      Spanish pesetas
                                                      7,98191    French francs
                                                      0,976426   Irish punt
                                                  2 294,57       Italian lire
                                                      2,65256    Dutch guilders
                                                    239,331      Portuguese escudos
                                                      0,946550   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
                     333,451      Greek drachmas                              361,239      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
                   2 206,32       Italian lire                              2 390,18       Italian lire
                       2,55054 Dutch guilders                                   2,76308 Dutch guilders
                     230,126      Portuguese escudos                          249,303      Portuguese escudos
                       0,910144 Pound sterling                                  0,985990 Pound sterling