Document ID: 31992R0668

COMMISSION REGULATION (EEC) No 668/92 of 17 March 1992 adapting the conversion rates to be applied in agriculture fixed by Council Regulation (EEC) No 1678/85
THE COMMISSION OF THE EUROPEAN COMMUNITIES,
Having regard to the Treaty establishing the European Economic Community,
Having regard to Council Regulation (EEC) No 1677/85 of 11 June 1985 on monetary compensatory amounts in agriculture (1), as last amended by Regulation (EEC) No 2205/90 (2), and in particular Articles 6 (2) and 6a (2) thereof,
Whereas the agricultural conversion rates currently applicable were fixed by Council Regulation (EEC) No 1678/85 (3), as last amended by Commission Regulation (EEC) No 3696/91 (4);
Whereas, where the currency exchange rates are realigned within the European Monetary System, Article 6 of Regulation (EEC) No 1677/85 stipulates that, under the procedure laid down in Article 12 of that Regulation, the Member States' agricultural conversion rates must be adapted in such a way as to eliminate, in stages, newly-created monetary gaps; whereas pursuant to Article 6a of that Regulation, the agricultural conversion rate of a Member State for the pigmeat product sector is to be adapted so as to avoid, within certain limits, the application of monetary compensatory amounts;
Whereas, as a result of the currency realignment of 6 October 1990 and having due regard to the provisions of Commission Regulation (EEC) No 3578/88 of 17 November 1988 laying down detailed rules for the application of the arrangements for the automatic dismantling of negative monetary compensatory amounts (5), as last amended by Regulation (EEC) No 3137/91 (6), new agricultural conversion rates for the Greek drachma must be fixed for the 1992/93 marketing year without prejudice to any changes resulting from Council decisions or developments relating to currency exchange rates;
Whereas the measures provided for in this Regulation are in accordance with the opinion of the relevant management committees,
HAS ADOPTED THIS REGULATION:
Article 1
Annex IV to Regulation (EEC) No 1678/85 is hereby replaced by the Annex hereto.
Article 2
This Regulation shall enter into force on the day of its publication in the Official Journal of the European Communities. This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 17 March 1992.

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