CELEX: 31993R1141
Language: en
Date: 1993-05-11 00:00:00
Title: Commission Regulation (EEC) No 1141/93 of 10 May 1993 fixing the agricultural conversion rates

No L 115/20                          Official Journal of the European Communities                                  11 . 5. 93
                                   COMMISSION REGULATION (EEC) No 1141/93
                                                      of 10 May 1993
                                         fixing the agricultural conversion rates
 THE COMMISSION OF THE EUROPEAN COMMUNITIES,                      advance shall be adjusted if the gap between that rate and
                                                                  the agricultural conversion rate in force at the time of the
 Having regard to the Treaty establishing the European           operative event applicable for the currency concerned
 Economic Community,                                             exceeds four points ; whereas, in that event, the agricul­
                                                                 tural conversion rate fixed in advance is brought more
 Having regard to Council Regulation (EEC) No 3813/92            closely into line with the rate in force, up to the level of a
 of 28 December 1992 on the unit of account and the              gap of four points with that rate ; whereas the rate which
 conversion rates to be applied for the purposes of the          replaces the agricultural conversion rate fixed in advance
 common agricultural policy ('), and in particular Article 3     should be specified,
 (1 ) thereof,
 Whereas the agricultural conversion rates were fixed by         HAS ADOPTED THIS REGULATION :
 Commission Regulation (EEC) No 1077/93 (2);
                                                                                           Article 1
 Whereas Article 4 (3) of Regulation (EEC) No 3813/92
 stipulates that if, over a reference period, the absolute       The agricultural conversion rates are fixed in Annex I
 value of the difference in the gaps between the currencies      hereto.
 of any two Member States exceeds four points, any mone­
 tary gaps for the Member States concerned that exceed
 two points shall immediately be reduced to two points ;                                   Article 2
 whereas, in Article 1 (f) of Regulation (EEC) No 3813/92,
 the term 'monetary gap' is defined as the percentage of         In the case referred to in Article 15 (2) of Regulation
 the agricultural conversion rate representing the diffe­        (EEC) No 1068/93, the agricultural conversion rate fixed
 rence between that rate and the representative market           in advance shall be replaced by the ecu rate for the
 rate ;                                                          currency concerned, shown in Annex II :
                                                                 — Table A, where the latter rate is higher than the rate
 Whereas the representative market rates are determined              fixed in advance,
 on the basis of reference periods determined in accord­             or
 ance with Commission Regulation (EEC) No 1068/93 of
                                                                 — Table B, where the latter rate is lower than the rate
 30 April 1993 on detailed rules for determining and                 fixed in advance.
 applying the agricultural conversion rates (3) ;
Whereas, as a consequence of the exchange rates recorded                                   Article 3
 during the reference period 1 to 10 May 1993, it is neces­
 sary to fix a new agricultural conversion rate for the          Regulation (EEC) No 1077/93 is hereby repealed.
 Italian lira ;
                                                                                           Article 4
Whereas Article 15 (2) of Regulation (EEC) No 1068/93
provides that an agricultural conversion rate fixed in           This Regulation shall enter into force on 11 May 1993.
                  This Regulation shall be binding in its entirety and directly applicable in all Member
                  States.
                  Done at Brussels, 10 May 1993.
                                                                           For the Commission
                                                                             René STEICHEN
                                                                      Member of the Commission
(') OJ No L 387, 31 . 12. 1992, p. 1 .
(2) OJ No L 108, 1 . 5. 1993, p. 127.
(3 OJ No L 108, 1 . 5. 1993, p. 106.
 ---pagebreak--- 11 . 5. 93                        Official Journal of the European Communities                                No L 115/21
                                                        ANNEX I
                                              Agricultural conversion rates
                                      ECU 1          48,5563     Belgian and
                                                                 Luxembourg francs
                                                      8,97989    Danish kroner
                                                      2,35418    German marks
                                                    314,412      Greek drachmas
                                                    169,628      Spanish pesetas
                                                      7,89563    French francs
                                                      0,957268   Irish punt
                                                  2 226,76       Italian lire
                                                      2,65256    Dutch guilders
                                                    214,525      Portuguese escudos
                                                      0,964017   Pound sterling
                                                       ANNEX II
                          Agricultural conversion rates fixed in advance and adjusted
                             Table A                                                  Table B
           ECU 1 =    46,6888     Belgian and                  ECU 1 =         50,5795     Belgian and
                                  Luxembourg francs                                        Luxembourg francs
                       8,63451    Danish kroner                                 9,35405    Danish kroner
                       2,26363    German marks                                  2,45227    German ' marks
                    302,319       Greek drachmas                              327,513      Greek drachmas
                     163,104      Spanish pesetas                             176,696      Spanish pesetas
                       7,59195    French francs                                 8,22461    French francs
                       0,920450 Irish punt                                      0,997154 Irish punt
                   2141,12        Italian lire                              2 319,54       Italian lire
                       2,55054 Dutch guilders                                   2,76308    Dutch guilders
                    206,274       Portuguese escudos                          223,464      Portuguese escudos
                       0,926939 Pound sterling                                  1,00418    Pound sterling