CELEX: 31997R0091
Language: en
Date: 1997-01-20 00:00:00
Title: COMMISSION REGULATION (EC) No 91/97 of 20 January 1997 fixing the agricultural conversion rates

No L 17/32             EN                 Official Journal of the European Communities                                  21 . 1 . 97
                                         COMMISSION REGULATION (EC) No 91 /97
                                                        of 20 January 1997
                                            fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                         German mark, the Dutch guilder, the Austrian schilling
                                                                    and the pound sterling;
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 1 50/95 (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 39/97 (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 (^; 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 39/97 is hereby repealed.
                                                                                               Article 4
 Whereas, as a consequence of the exchange rates recorded
 from 11 to 20 January 1997, it is necessary to fix a new             This Regulation shall enter into force on 21 January
 agricultural conversion rate for the Belgian franc, the               1997 .
                   This Regulation shall be binding in its entirety and directly applicable in all Member
                    States .
                    Done at Brussels, 20 January 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 8 , 11 . 1 . 1997, p. 10.
  (4) OJ No  L 108 , 1 . 5. 1993, p. 106.
   5) OJ No  L 188 , 27. 7. 1996, p. 22.
 ---pagebreak--- 21 . 1 . 97      rEN~|              Official Journal of the European Communities                                No L 17/33
                                                          ANNEX I
                                                Agricultural conversion rates
                                    ECU 1 =        40,2147     Belgian and
                                                               Luxembourg francs
                                                     7,49997   Danish kroner
                                                     1,95076   German marks
                                                  311,761      Greek drachmas
                                                  198,202      Portuguese escudos
                                                     6,61023   French francs
                                                     6,02811   Finnish marks
                                                     2,19067   Dutch guilders
                                                     0,778173  Irish punt
                                                  973,93       Italian lire
                                                   13,7246     Austrian schillings
                                                  165,198      Spanish pesetas
                                                     8,64446   Swedish kroner
                                                     0,768177  Pound sterling
                                                         ANNEX II
                             Agricultural conversion rates fixed in advance and adjusted
                               Table A                                                 Table B
            ECU 1 =     38,6680      Belgian and                ECU 1 =        41,8903      Belgian and
                                     Luxembourg francs                                      Luxembourg francs
                         7,21151     Danish kroner                              7,81247     Danish kroner
                         1,87573     German marks                               2,03204     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
                         2,10641     Dutch guilders                             2,28195     Dutch guilders
                         0,748243    Irish punt                                 0,810597    Irish punt
                    1 898,01         Italian lire                           2 056,18        Italian lire
                        13,1967      Austrian schillings                       14,2965      Austrian schillings
                       158,844       Spanish pesetas                          172,081       Spanish pesetas
                         8,31198     Swedish kroner                             9,00465     Swedish kroner
                         0,738632    Pound sterling                             0,800184    Pound sterling