CELEX: 31995R2533
Language: en
Date: 1995-10-27
Title: COMMISSION REGULATION (EC) No 2533/95 of 27 October 1995 fixing the agricultural conversion rates

28 . 10 . 95          EN                Official Journal of the European Communities                             No L 258/61
                                      COMMISSION REGULATION (EC) No 2533/95
                                                     of 27 October 1995
                                         fixing the agricultural conversion rates
THE COMMISSION OF THE EUROPEAN COMMUNITIES,                       advance is to be adjusted if the gap between that rate and
Having regard to the Treaty establishing the European             the agricultural conversion rate in force at the time of the
Community,                                                        operative event applicable for the amount concerned
                                                                  exceeds four points ; whereas, in that event, the agricul­
Having regard to Council Regulation (EEC) No 3813/92              tural conversion rate fixed in advance is brought more
of 28 December 1992 on the unit of account and the
                                                                  closely into line with the rate in force, up to the level of a
conversion rates to be applied for the purposes of the            gap of four points with that rate ; whereas the rate which
common agricultural policy ('), as last amended by Regu­          replaces the agricultural conversion rate fixed in advance
lation (EC) No 1 50/95 (2), and in particular Article 3 ( 1 )     should be specified,
thereof,
Whereas the agricultural conversion rates were fixed by
Commission Regulation (EC) No 2422/95 (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      The agricultural conversion rates are fixed in Annex I
be adjusted where the monetary gap between it and the             hereto .
representative market rate exceeds certain levels ;
Whereas the representative market rates are determined                                      Article 2
on the basis of basic reference periods or, where appli­
cable, confirmation periods, established in accordance            In the case referred to in Article 15 (3) of Regulation
with Article 2 of Commission Regulation (EEC) No                  (EEC) No 1068/93, the agricultural conversion rate fixed
1068 /93 of 30 April 1993 on detailed rules for deter­            in advance shall be replaced by the ecu rate for the
mining and applying the agricultural conversion rates (4),        currency concerned, shown in Annex II :
as last amended by Regulation (EC) No 1053/95 0 ;
                                                                  — Table A, where the latter rate is higher than the rate
whereas paragraph 2 of that Article provides that, in cases           fixed in advance,
where the absolute value of the difference between the
monetary gaps in two Member States, calculated from the           — Table B, where the latter rate is lower than the rate
average of the ecu rates for three consecutive quotation              fixed in advance .
days, exceeds six points, the representative market rates
are to be adjusted on the basis of the three quotation days                                 Article 3
in question ;
                                                                  Regulation (EC) No 2422/95 is hereby repealed.
Whereas, as a consequence of the exchange rates recorded
from 20 to 29 October 1995, it is necessary to fix a new
                                                                                            Article 4
agricultural conversion rate for the Swedish krona ;
Whereas Article 15 (2) of Regulation (EEC) No 1068/93             This Regulation shall enter into force on 30 October
provides that an agricultural conversion rate fixed in            1995 .
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                 States .
                 Done at Brussels, 27 October 1995.
                                                                            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 .
P) Ol No L 248 . 14. 10 . 1995, o . 5<
(<) OJ No L 108 , 1 . 5. 1993, p. 106.
H OJ No L 107, 12. 5. 1995, p. 4.
 ---pagebreak--- No L 258 /62      EN               Official Journal of the European Communities                                28 . 10. 95
                                                          ANNEX I
                                               Agricultural conversion rates
                                    ECU 1           39,5239   Belgian and
                                                              Luxembourg francs
                                                     7,49997  Danish kroner
                                                     1,90616  German marks
                                                   307,247    Greek drachmas
                                                   198,202    Portuguese escudos
                                                     6,61023  French francs
                                                     5,88000  Finnish marks
                                                     2,14021  Dutch guilders
                                                     0,829498 Irish punt
                                                 2 164,34     Italian lire
                                                    13,4084   Austrian schillings
                                                   165,198    Spanish pesetas
                                                     9,24240  Swedish kroner
                                                     0,843954 Pound sterling
                                                          ANNEX II
                            Agricultural conversion rates fixed in advance and adjusted
                               Table A                                                Table B
            ECU 1 =     38,0038      Belgian and               ECU 1 =        41,1707      Belgian and
                                     Luxembourg francs                                     Luxembourg francs
                         7,21151     Danish kroner                             7,81247     Danish kroner
                         1,83285     German marks                              1,98558     German marks
                       295,430       Greek drachmas                          320,049       Greek drachmas
                       190,579       Portuguese escudos                      206,460       Portuguese escudos
                         6,35599     French francs                             6,88566     French francs
                         5,65385     Finnish marks                             6,12500     Finnish marks
                         2,05789     Dutch guilders                            2,22939     Dutch guilders
                         0,797594    Irish punt                                0,864060    Irish punt
                     2 081,10        Italian lire                          2 254,52        Italian lire
                        12,8927      Austrian schillings                      13,9671      Austrian schillings
                       158,844       Spanish pesetas                         172,081       Spanish pesetas
                         8,88692     Swedish kroner                            9,62750     Swedish kroner
                         0,811494    Pound sterling                            0,879119    Pound sterling