CELEX: 31996R2464
Language: en
Date: 1996-12-20 00:00:00
Title: COMMISSION REGULATION (EC) No 2464/96 of 20 December 1996 fixing the agricultural conversion rates

21 . 12. 96         I EN I                Official Journal of the European Communities                              No L 333 / 57
                                         COMMISSION REGULATION (EC) No 2464/96
                                                         of 20 December 1996
                                              fixing the agricultural conversion rates
  THE COMMISSION OF THE EUROPEAN COMMUNITIES,                           German mark, the Dutch guilder and the Austrian schil­
                                                                        ling;
   Having regard to the Treaty establishing the European
  Community,                                                            Whereas Article 15 (2) of Regulation (EEC) No 1068/93
                                                                        provides that an agricultural conversion rate fixed in
  Having regard to Council Regulation (EEC) No 3813/92                  advance is to be adjusted if the gap between that rate and
  of 28 December 1992 on the unit of account and the                  • the agricultural conversion rate in force at the time of the
  conversion rates to be applied for the purposes of the                operative event applicable for the amount concerned
  common agricultural policy ('), as last amended by Regu­              exceeds four points; whereas, in that event, the agricul­
  lation (EC) No 150 /95 (2), and in particular Article 3 ( 1 )         tural conversion rate fixed in advance is brought more
  thereof,                                                              closely into line with the rate in force, up to the level of a
                                                                        gap of four points with that rate; whereas the rate which
 Whereas the agricultural conversion rates were fixed by                replaces the agricultural conversion rate fixed in advance
  Commission Regulation (EC) No 2356/96 (3);                            should be specified,
 Whereas Article 4 of Regulation (EEC) No 3813/92                       HAS ADOPTED THIS REGULATION :
  provides that, subject to confirmation periods being trig­
 gered, the agricultural conversion rate for a currency is to                                    Article 1
 be adjusted where the monetary gap between it and the                  The agricultural conversion rates are fixed in Annex I
 representative market rate exceeds certain levels;                     hereto .
 Whereas the representative market rates are determined                                          Article 2
 on the basis of basic reference periods or, where applic­
 able, confirmation periods, established in accordance with             In the case referred to in Article 15 (3) of Regulation
 Article 2 of Commission Regulation (EEC) No 1068 /93 of                (EEC) No 1068 /93, the agricultural conversion rate fixed
 30 April 1993 on detailed rules for determining and                    in advance shall be replaced by the ecu rate for the
 applying the agricultural conversion rates (4), as last                currency concerned, shown in Annex II :
 amended by Regulation (EC) No 1482/96 Q; whereas                      — Table A, where the latter rate is higher than the rate
 paragraph 2 of that Article provides that, in cases where                  fixed in advance,
 the absolute value of the difference between the monetary             — Table B, where the latter rate is lower than the rate
 gaps in two Member States, calculated from the average of                  fixed in advance .
 the ecu rates for three consecutive quotation days, exceeds
 six points, the representative market rates are to be                                           Article 3
 adjusted on the basis of the three quotation days in ques­
 tion ;                                                                Regulation (EC) No 2356/96 is hereby repealed .
                                                                                                 Article 4
 Whereas, as a consequence of the exchange rates recorded
 from 11 to 20 December 1996, it is necessary to fix a new             This Regulation shall enter into force on 21 December
 agricultural conversion rate for the Belgian franc, the                1996 .
                    This Regulation shall be binding in its entirety and directly applicable in all Member
                    States .
                    Done at Brussels, 20 December 1996 .
                                                                                 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 .
(■') OJ  No  L 320 , 11 . 12 . 1996, p. 22 .
(4)  OJ  No  L 108 , 1 . 5 . 1993, p. 106.
  5  OJ  No  L 188 , 27. 7. 1996, p. 22.
 ---pagebreak--- No L 333 /58   MENI               Official Journal of the European Communities                                  21 . 12. 96
                                                           ANNEX I
                                              Agricultural conversion rates
                                   ECU 1 =          39,9696    Belgian and
                                                               Luxembourg francs
                                                     7,49997   Danish kroner
                                                     1,93917   German marks
                                                   311,761     Greek drachmas
                                                   198,202     Portuguese escudos
                                                     6,61023   French francs
                                                     6,02811   Finnish marks
                                                     2,17598   Dutch guilders
                                                     0,812908  Irish punt
                                                 1 973,93      Italian lire
                                                    13,6463    Austrian schillings
                                                   165,198     Spanish pesetas
                                                     8,64446   Swedish kroner
                                                     0,809915  Pound sterling
                                                          ANNEX II
                            Agricultural conversion rates fixed in advance and adjusted
                              Table A                                                  Table B
            ECU 1 =    38,4323      Belgian and                 ECU 1 =        41,6350      Belgian and
                                    Luxembourg francs                                       Luxembourg francs
                        7,21151     Danish kroner                               7,81247     Danish kroner
                        1,86459     German marks                                2,01997     German marks
                      299,770       Greek drachmas                            324,751       Greek drachmas
                      190,579       Portuguese escudos                        206,460       Portuguese escudos
                        6,35599     French francs                               6,88566     French francs
                        5,79626     Finnish marks                               6,27928     Finnish marks
                        2,09229     Dutch guilders                              2,26665     Dutch guilders
                        0,781642    Irish punt                                  0,846779    Irish punt
                    1 898,01        Italian lire                            2 056,18        Italian lire
                       13,1214      Austrian schillings                        14,2149      Austrian schillings
                      158,844       Spanish pesetas                           172,081       Spanish pesetas
                        8,31198     Swedish kroner                              9,00465     Swedish kroner
                        0,778764    Pound sterling                              0,843661    Pound sterling