CELEX: 31994R2268
Language: en
Date: 1994-09-21 00:00:00
Title: Commission Regulation (EC) No 2268/94 of 20 September 1994 fixing the agricultural conversion rates

21 . 9 . 94                              Official Journal of the European Communities                             No L 246/ 15
                                      COMMISSION REGULATION (EC) No 2268/94
                                                     of 20 September 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 2082/94 (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
30 April 1993 on detailed rules for determining and                — Table A, where the latter rate is higher than the rate
                                                                       fixed in advance,
applying the agricultural conversion rates (4), as amended
by Regulation (EC) No 547/94 (*) ;                                     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 September 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 + 3,448 and — 1,552 and on the other
hand to fix a new agricultural conversion rate for the             Regulation (EC) No 2082/94 is hereby repealed.
Greek drachma ;
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 September
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 September 1994.
                                                                             For the Commission
                                                                               Rene STEICHEN
                                                                        Member of the Commission
(') OJ  No  L 387, 31 . 12. 1992, p. 1 .
(2) OJ  No  L 320, 22. 12. 1993, p. 32.
(3) OJ  No  L 215, 20. 8. 1994, p. 7.
O   OJ  No  L 108, 1 . 5. 1993, p. 106.
O   OJ  No  L 69, 12. 3. 1994, p. 1 .
 ---pagebreak--- No L 246/16                     Official Journal of the European Communities                               21 . 9. 94
                                                      ANNEX I
                                            Agricultural conversion rates
                                     ECU 1 =       49,3070    Belgian and
                                                              Luxembourg francs
                                                    9,34812   Danish kroner
                                                    2,35418   German marks
                                                  349,469     Greek drachmas
                                                  192,319     Spanish pesetas
                                                    7,98191   French francs
                                                    0,976426 Irish punt
                                                2 339,97      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
                    336,028      Greek drachmas                            364,030      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
                  2 249,97       Italian lire                            2 437,47       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