CELEX: 31994R2927
Language: en
Date: 1994-12-01
Title: Commission Regulation (EC) No 2927/94 of 30 November 1994 fixing the agricultural conversion rates

1 . 12. 94                               Official Journal of the European Communities                             No L 307/57
                                        COMMISSION REGULATION (EC) No 2927/94
                                                       of 30 November 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 2669/94 (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 21 to 30 November 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 4- 3,603 and — 1,397 and on the other
hand to fix a new agricultural conversion rate for the               Regulation (EC) No 2669/94 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 1 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, 30 November 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 284, 1 . 11 . 1994, p. 51 .
(4)  OJ  No  L 108, 1 . 5. 1993, p. 106.
H    OJ  No  L 69, 12. 3. 1994, p. 1 .
 ---pagebreak--- No L 307/58                     Official Journal of the European Communities                                1 . 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
                                                2 361,74       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
                  2 270,90       Italian lire                             2 460,15       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