31993R0219

3 . 2. 93 Official Journal of the European Communities No L 26/ 13

COMMISSION REGULATION (EEC) No 219/93 of 2 February 1993 fixing the agricultural conversion rates and other consequences of the currency realignment of 30 January 1993 and amending Regulation (EEC) No 204/93

THE COMMISSION OF THE EUROPEAN COMMUNITIES, and the agricultural conversion rate in force at the time of the operative event for the amount concerned exceeds four points ; whereas in this case the agricultural conver­ Having regard to the Treaty establishing the European sion rate fixed in advance is to be adjusted to bring it Economic Community, 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 replaces the agricultural conversion rate fixed Having regard to Council Regulation (EEC) No 3813/92 in advance should be specified ; of 28 December 1992 on the unit of account and the conversion rates to be applied for the purposes of the Whereas the basic reference period referred to in Article 2 common agricultural policy ('), and in particular Article 1 ( 1 ) of Regulation (EEC) No 3819/92 should be adjusted to (c) and (d), Article 3 (1 ) and Article 12 thereof, take account of the fixing of agricultural conversion rates following the currency realignment of 30 January 1993 ; Whereas the second indent of Article 1 (c) of Regulation (EEC) No 3813/92 provides that the correcting factor is to Whereas Commission Regulation (EEC) No 204/93 (4) be altered whenever realignment takes place within the suspends the fixing in advance of the agricultural conve­ European Monetary System, in line with the highest reva­ resion rate for the Irish punt for applications submitted luation of the central rate of the fixed currencies against from 1 to 3 February 1993 ; whereas this fixing in the ecu ; whereas, in respect of the realignment of advance may be reintroduced on the basis of the agricul­ 30 January 1993, the alteration of the correcting factor is tural conversion rates laid down in this Regulation ; based on a revaluation of 0,87 % ; Whereas the measures provided for in this Regulation are in accordance with the opinion of the Management Whereas the agricultural conversion rates have been laid Committees concerned, down by Commission Regulation (EEC) No 182/93 (2) ;

Whereas pursuant to Artricle 4 (2) of Regulation (EEC) HAS ADOPTED THIS REGULATION : No 3813/92, it is necessary to adjust immediately the agricultural conversion rate for the Irish punt for which the currency realignment of 30 January 1993 entails a monetary gap greater than four points, and to allow only a Article 1 gap less than or equal to two points to continue to exist ; whereas that paragraph provides that, in the event of The correcting factor referred to in Article 1 (c) of Regula­ currency realignment, the agricultural conversion rate for tion (EEC) No 3813/92 is hereby fixed at 1,205454. a floating currency is to be adjusted where the monetary gap in relation to the representative market rate for the last reference period exceeds two points ; whereas, in that Article 2 case, the new agricultural conversion rate is to be fixed so as to reduce that monetary gap by half ; The agricultural conversion rates are fixed in Annex I.

Whereas, as a consequence of the exchange rates recorded during the reference period from 1 to 2 February 1993, it Article 3 is necessary to fix a new agricultural conversion rate for the Italian lira and the pound sterling ; In the case referred to in Article 11 (2) of Regulation (EEC) No 3819/92, the agricultural conversion rate fixed in advance shall be replaced by the ecu rate for the Whereas Article 1 1 (2) of Commission Regulation (EEC) currency concerned, listed in Annex II : No 3819/92 of 28 December 1992 on detailed rules for determining and applying the agricultural conversion — Table A, where the latter rate is higher than the rate rates (3) provides that an agricultural conversion rate fixed fixed in advance, or in advance is to be adjusted if the gap between that rate — Table B, where the latter rate is lower than the rate fixed in advance. (') OJ No L 387, 31 . 12. 1992, p. 1 . 2) OJ No L 22, 30. 1 . 1993, p. 56. (3) OJ No L 387, 31 . 12. 1992, p. 17. O OJ No L 24, 1 . 2. 1993, p. 1 .

No L 26/ 14 Official Journal of the European Communities 3 . 2. 93

Article4¶

The basic reference period referred to in Article 2 ( 1 ) of Regulation (EEC) No 182/93 is hereby repealed. Regulation (EEC) No 3819/92, expiring on 10 February 1993, shall commence on 3 February 1993.

Article 5 Article 7 '1 to 3 February 1993' in Article 1 of Regulation (EEC) No 204/93 is replaced by '1 to 2 February 1993', This Regulation shall enter into force on 3 February 1993.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 2 February 1993 .

For the Commission Rene STEICHEN Member of the Commission

3 . 2. 93 Official Journal of the European Communities No L 26/ 15

ANNEX I

Agricultural conversion rates

ECU 1 - 48,5563 Belgian and Luxembourg francs 8,97989 Danish kroner 2,35418 German marks 310,351 Greek drachmas 166,075 Spanish pesetas 7,89563 French francs 0,957268 Irish punt 2156,72 Italian lire 2,65256 Dutch guilders 209,523 Portuguese escudos 0,968391 Pound sterling

ANNEX II

Agricultural conversion rates fixed in advance and adjusted

Table A Table B

ECU 1 — 46,6888 Belgian and ECU 1 = 50,5795 Belgian and Luxembourg francs Luxembourg francs 8,63451 Danish kroner 9,35405 Danish kroner 2,26363 German marks 2,45227 German marks 298,414 Greek drachmas 323,282 Greek drachmas 159,688 Spanish pesetas 172,995 Spanish pesetas 7,59195 French francs 8,22461 French francs 0,920450 Irish punt 0,997154 Irish punt 2 073,77 Italian lire 2 246,58 Italian lire 2,55054 Dutch guilders 2,76308 Dutch guilders 201,464 Portuguese escudos 218,253 Portuguese escudos 0,931 145 Pound sterling 1,00874 Pound sterling