CELEX: 31997R0930
Language: en
Date: 1997-05-23 00:00:00
Title: COMMISSION REGULATION (EC) No 930/97 of 23 May 1997 fixing the agricultural conversion rates

24. 5. 97            ( ENI               Official Journal of the European Communities                              No L 133 / 17
                                           COMMISSION REGULATION (EC) No 930/97
                                                           of 23 May 1997
                                             fixing the agricultural conversion rates
  THE COMMISSION OF THE EUROPEAN COMMUNITIES,                          Whereas Article 15 (2) of Regulation (EEC) No 1068/93
                                                                       provides that an agricultural conversion rate fixed in
  Having regard to the Treaty establishing the European                advance is to be adjusted if the gap between that rate and
  Community,                                                           the agricultural conversion rate in force at the time of the
  Having regard to Council Regulation (EEC) No 3813/92                 operative event applicable for the amount concerned
  of 28 December 1992 on the unit of account and the                  exceeds four points; whereas, in that event, the agricul­
  conversion rates to be applied for the purposes of the              tural conversion rate fixed in advance is brought more
  common agricultural policy ('), as last amended by Regu­            closely into line with the rate in force, up to the level of a
  lation (EC) No 1 50/95 (2), and in particular Article 3 ( 1 )       gap of four points with that rate; whereas the rate which
  thereof,                                                            replaces the agricultural conversion rate fixed in advance
                                                                      should be specified,
 Whereas the agricultural conversion rates were fixed by
  Commission Regulation (EC) No 872/97 (3);
                                                                      HAS ADOPTED THIS REGULATION :
 Whereas Article 4 of Regulation (EEC) No 3813/92
 provides that, subject to confirmation periods being trig­                                     Article 1
 gered, the agricultural conversion rate for a currency is to
 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
 paragraph 2 of that Article provides that, in cases where            — Table A, where the latter rate is higher than the rate
                                                                          fixed in advance,
 the absolute value of the difference between the monetary
 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 872/97 is hereby repealed .
 Whereas, as a consequence of the exchange rates recorded
 from 16 to 25 May 1997, it is necessary to fix a new agri­                                     Article 4
 cultural conversion rate for the Irish pound and the Greek
 drachma;                                                            This Regulation shall enter into force on 26 May 1997.
                    This Regulation shall be binding in its entirety and directly applicable in all Member
                    States .
                    Done at Brussels, 23 May 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 .
O   OJ   No  L 124, 16. 5. 1997, p. 29.
(4) OJ  No   L 108 , 1 . 5. 1993, p. 106.
 5  OJ  No   L 188 , 27. 7. 1996, p. 22.
 ---pagebreak--- No L 133 / 18     EN                  Official Journal of the European Communities                               24 . 5. 97
                                                             ANNEX I
                                                  Agricultural conversion rates
                                      ECU 1 =         40,4285    Belgian and
                                                                 Luxembourg francs
                                                       7,49997   Danish kroner
                                                       1,95929   German marks
                                                     312,011     Greek drachmas
                                                     198,202     Portuguese escudos
                                                       6,61023   French francs
                                                       6,02811   Finnish marks
                                                       2,20397   Dutch guilders
                                                       0,759189  Irish punt
                                                   1 973,93      Italian lire
                                                      13,7910    Austrian schillings
                                                     165,571     Spanish pesetas
                                                       8,88562   Swedish kroner
                                                       0,742320  Pound sterling
                                                            ANNEX II
                              Agricultural conversion rates fixed in advance and adjusted
                                Table A                                                  Table B
           ECU 1 =      38,8736       Belgian and                ECU 1 =         42,1130      Belgian and
                                      Luxembourg francs                                       Luxembourg francs
                         7,21151      Danish kroner                               7,81247     Danish kroner
                          1,88393     German marks                                2,04093     German marks
                       300,011        Greek drachmas                            325,011       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
                         2,11920      Dutch guilders                              2,29580     Dutch guilders
                         0,729989     Irish punt                                  0,790822    Irish punt
                     1 898,01         Italian lire                            2 056,18        Italian lire
                        13,2606       Austrian schillings                        14,3656     Austrian schillings
                       159,203        Spanish pesetas                           172,470      Spanish pesetas
                         8,54387      Swedish kroner                              9,25585    Swedish kroner
                         0,713769     Pound sterling                              0,773250    Pound sterling