CELEX: 31995R3049
Language: en
Date: 1995-12-29 00:00:00
Title: COMMISSION REGULATION (EC) No 3049/95 of 29 December 1995 fixing the agricultural conversion rates

No L 316/42        IENI               Official Journal of the European Communities                                30 . 12. 95
                                     COMMISSION REGULATION (EC) No 3049/95
                                                   of 29 December 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 2960/95 (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
be adjusted where the monetary gap between it and the            The agricultural conversion rates are fixed in Annex I
                                                                 hereto .
representative market rate exceeds certain levels ;
Whereas the representative market rates are determined
on the basis of basic reference periods or, where appli­                                  A rticle 2
cable, confirmation periods, established in accordance
with Article 2 of Commission Regulation (EEC) No                 In the case referred to in Article 15 (3) of Regulation
 1068/93 of 30 April 1993 on detailed rules for deter­           (EEC) No 1068/93, the agricultural conversion rate fixed
                                                                 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 2853/95 (*) ;
whereas paragraph 2 of that Article provides that, in cases      — Table A, where the latter rate is higher than the rate
where the absolute value of the difference between the               fixed in advance,
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
in question ;                                                                             Article 3
Whereas, as a consequence of the exchange rates recorded         Regulation (EC) No 2360195 is hereby repealed.
from 21 to 31 December 1995, it is necessary to fix a new
agricultural conversion rate for the Greek drachma ;                                      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 1 January 1996.
                 This Regulation shall be binding in its entirety and directly applicable in all Member
                  States.
                  Done at Brussels, 29 December 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 .
(3) OJ No L 308, 21 . 12. 1995, p. 59.
(4) OJ No L 108, 1 . 5. 1993, p. 106.
M OJ No L 299, 12. 12. 1995, p. 1 .
 ---pagebreak--- 30 . 12. 95       EN               Official Journal of the European Communities                                  No L 316/43
                                                            ANNEX I
                                               Agricultural conversion rates
                                    ECU1             39,5239    Belgian and
                                                                Luxembourg francs
                                                      7,49997   Danish kroner
                                                      1 »9061 6 German marks
                                                    311,761     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
                                                      0,856563  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
                       299,770       Greek drachmas                            324,751       Greek drachmas
                       190,579       Portuguese escudos                        206,460       Portuguese escudos
                         6,35599     French francs                               6,88566     French francs
                         5,65385     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
                         0,823618    Pound sterling                              0,892253    Pound sterling