CELEX: 31997R1335
Language: en
Date: 1997-07-10 00:00:00
Title: COMMISSION REGULATION (EC) No 1335/97 of 10 July 1997 fixing the agricultural conversion rates

No L 183 / 10       EN                 Official Journal of the European Communities                                  11 . 7. 97
                                      COMMISSION REGULATION (EC) No 1335/97
                                                        of 10 July 1997
                                         fixing the agricultural conversion rates
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                      bourg franc, the Danish krone, the German mark, the
                                                                  Portuguese escudo, the French franc, the Dutch gilder,
 Having regard to the Treaty establishing the European            the Austrian schilling and the Spanish 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 150/95 (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 1012/97 (*);                       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 1 482/96 (^j 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 1012/97 is hereby repealed.
Whereas, as a consequence of the exchange rates recorded                                   Article 4
from 1 July to 10 July 1997, it is necessary to fix a new
agricultural conversion rate for the Belgian or Luxem­            This Regulation shall enter into force on 1 1 July 1997.
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States .
                  Done at Brussels, 10 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 145, 5. 6. 1997, p. 25.
(«) OJ No L 108, 1 . 5. 1993, p. 106.
(<) OJ No L 188 , 27. 7. 1996, p. 22.
 ---pagebreak--- 11 . 7. 97      I EN I               Official Journal of the European Communities                                 No L 183/ 11
                                                             ANNEX I
                                                 Agricultural conversion rates
                                     ECU 1 =          40,7357    Belgian and
                                                                 Luxembourg francs
                                                       7,51757   Danish kroner
                                                       1,97407   German marks
                                                     312,011     Greek drachmas
                                                     199,234     Portuguese escudos
                                                       6,65716   French francs
                                                       6,02811   Finnish marks
                                                       2,22212   Dutch guilders
                                                       0,759 189 Irish punt
                                                   1 973,93      Italian lire
                                                      13,8905    Austrian schillings
                                                     166,718     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 =      39,1689       Belgian and                ECU 1 =         42,4330      Belgian and
                                      Luxembourg francs                                       Luxembourg francs
                         7,22843      Danish kroner                               7,83080     Danish kroner
                         1,89814      German marks                                2,05632     German marks
                       300,011        Greek drachmas                            325,011       Greek drachmas
                       191,571        Portuguese escudos                        207,535       Portuguese escudos
                         6,40112      French francs                               6,93454     French francs
                         5,79626      Finnish marks                               6,27928     Finnish marks
                         2,13665      Dutch guilders                              2,31471     Dutch guilders
                         0,729989     Irish punt                                  0,790822    Irish punt
                    1 898,01          Italian lire                            2 056,18        Italian lire
                        13,3563       Austrian schillings                        14,4693      Austrian schillings
                       160,306        Spanish pesetas                           173,665       Spanish pesetas
                         8,54387      Swedish kroner                              9,25585     Swedish kroner
                         0,693105     Pound sterling                              0,750864    Pound sterling