CELEX: 31994R0752
Language: en
Date: 1994-04-01 00:00:00
Title: Commission Regulation (EC) No 752/94 of 31 March 1994 fixing the agricultural conversion rates

1 . 4. 94                                Official Journal of the European Communities                                No L 88 / 1
                                                                I
                                              (Acts whose publication is obligatory)
                                       COMMISSION REGULATION (EC) No 752/94
                                                       of 31 March 1994
                                           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
                                                                    operative event applicable for the currency concerned
Having regard to the Treaty establishing the European               exceeds four points ; whereas, in that event, the agricul­
Community,                                                          tural conversion rate fixed in advance is brought more
                                                                    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
Having regard to Council Regulation (EEC) No 3813/92                replaces the agricultural conversion rate fixed in advance
of 28 December 1992 on the unit of account and the
                                                                    should be specified,
conversion rates to be applied for the purposes of the
common agricultural policy ('), as last amended by Regu­
lation (EC) No 3528/93 (2), and in particular Article 3 ( 1 )
thereof,
                                                                    HAS ADOPTED THIS REGULATION :
Whereas the agricultural conversion rates were fixed by
Commission Regulation (EC) No 1 06/94 (3);
                                                                                              Article 1
Whereas Article 4 of Regulation (EEC) No 3813/92
                                                                    The agricultural conversion rates are fixed in Annex I
provides that the agricultural conversion rate for a floating       hereto.
currency is to be adjusted where the monetary gap
between it and the representative market rate exceeds
certain levels ; whereas, notwithstanding that Article 4,
Article 4a of that Regulation applies until 31 December                                       Article 2
 1994 ;
                                                                    In the case referred to in Article 15 (3) of Regulation
 Whereas the representative market rates are determined             (EEC) No 1068/93, the agricultural conversion rate fixed
 on the basis of reference periods established in accord­           in advance shall be replaced by the ecu rate for the
 ance with Commission Regulation (EEC) No 1068/93 of                currency concerned, shown in Annex II :
 30 April 1993 on detailed rules for determining and
                                                                    — Table A, where the latter rate is higher than the rate
 applying the agricultural conversion rates (4), amended by             fixed in advance,
 Regulation (EC) No 547/94 0 ;
                                                                        or
                                                                    — Table B, where the latter rate is lower than the rate
 Whereas, as a consequence of the exchange rates recorded               fixed in advance .
 during the reference period 21 to 31 March 1994, it is
 necessary to fix a new agricultural conversion rate for the
 Greek drachma ;
                                                                                              Article 3
 Whereas Article 15 (3) of Regulation (EEC) No 1068 /93
 provides that an agricultural conversion rate fixed in              Regulation (EC) No 106/94 is hereby repealed.
 (') OJ No  L 387, 31 . 12. 1992, p. 1 .
 (2) OJ No  L 320, 22. 12. 1993, p. 32.                                                       Article 4
 (3) OJ No  L 18, 21 . 1 . 1994, p. 14.
 (4) OJ No  L 108, 1 . 5. 1993, p. 106.
 O   OJ No  L 69, 12. 3 . 1994, p. 1 .                              This Regulation shall enter into force on 1 April 1994.
 ---pagebreak--- No L 88 /2                           Official Journal of the European Communities                                 1 . 4. 94
             This Regulation shall be binding in its entirety and directly applicable in all Member
             States .
             Done at Brussels, 31 March 1994.
                                                                               For the Commission
                                                                                  Rene STEICHEN
                                                                          Member of the Commission
                                                           ANNEX I
                                                 Agricultural conversion rates
                                         ECU 1 =        49,3070     Belgian and
                                                                     Luxembourg francs
                                                         9,348 1 2  Danish kroner
                                                         2,35418    German marks
                                                       337,813      Greek drachmas
                                                       192,319      Spanish pesetas
                                                         7,98191    French francs
                                                         0,976426   Irish punt
                                                     2 274,93       Italian lire
                                                         2,65256 Dutch guilders
                                                       236,933      Portuguese escudos
                                                         0,920969 Pound sterling
                                                          ANNEX II
                              Agricultural conversion rates fixed in advance and adjusted
                                 Table A                                                  Table B
           ECU 1 =        47,4106     Belgian and                  ECU 1 =         51,3615     Belgian and
                                       Luxembourg francs                                       Luxembourg francs
                           8,98858    Danish kroner                                 9,73763    Danish kroner
                           2,26363    German marks                                  2,45227    German marks
                        324,820       Greek drachmas                              351,889      Greek drachmas
                        184,922       Spanish pesetas                             200,332      Spanish pesetas
                           7,67491 French francs                                    8,31449    French francs
                           0,938871 Irish punt                                      1,01711    Irish punt
                      2 1 87,43       Italian lire                              2 369,72       Italian lire
                           2,55054     Dutch guilders                               2,76308    Dutch guilders
                        227,820       Portuguese escudos                          246,805      Portuguese escudos
                           0,885547 Pound sterling                                  0,959343 Pound sterling