31994R0039

11 . 1 . 94 Official Journal of the European Communities No L 7/7

COMMISSION REGULATION (EC) No 39/94 of 10 January 1994 fixing the agricultural conversion rates

THE COMMISSION OF THE EUROPEAN COMMUNITIES, operative event applicable for the currency concerned exceeds four points ; whereas, in that event, the agricul­ Having regard to the Treaty establishing the European tural conversion rate fixed in advance is brought more Community, closely into line with the rate in force, up to the level of a Having regard to Council Regulation (EEC) No 3813/92 gap of four points with that rate ; whereas the rate which of 28 December 1992 on the unit of account and the replaces the agricultural conversion rate fixed in advance conversion rates to be applied for the purposes of the should be specified, 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 3661 /93 (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 Article 2 certain levels ; whereas, notwithstanding that Article 4, Article 4a of that Regulation applies until 31 December In the case referred to in Article 15 (3) of Regulation 1994 ; (EEC) No 1068/93, the agricultural conversion rate fixed Whereas the representative market rates are determined in advance shall be replaced by the ecu rate for the on the basis of reference periods established in accord­ currency concerned, shown in Annex II : ance with Commission Regulation (EEC) No 1068/93 of — Table A, where the latter rate is higher than the rate 30 April 1993 on detailed rules for determining and fixed in advance, applying the agricultural conversion rates (4) ; or Whereas, as a consequence of the exchange rates recorded — Table B, where the latter rate is lower than the rate during the reference period 1 to 10 January 1994, it is fixed in advance . necessary on the one hand to fix the limits referred to in paragraphs 1 and 3 of Article 4a of Regulation (EEC) Article 3 No 3813/92 at + 3,115 and — 1,885, and on the other hand to fix a new agricultural conversion rate for the Regulation (EC) No 3661 /93 is hereby repealed. Spanish peseta ;

Whereas Article 15 (3) of Regulation (EEC) No 1068/93 Article 4 provides that an agricultural conversion rate fixed in advance shall be adjusted if the gap between that rate and This Regulation shall enter into force on 11 January the agricultural conversion rate in force at the time of the 1994.

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

Done at Brussels, 10 January 1994.

For the Commission Rene STEICHEN Member of the Commission

(') OJ No L 387, 31 . 12. 1992, p. 1 . (2) OJ No L 320, 22. 12. 1993 , p. 32. 0 OJ No L 333, 31 . 12. 1993, p. 61 . O OJ No L 108, 1 . 5. 1993, p. 106.

No L 7/8 11 . 1 . 94 Official Journal of the European Communities

ANNEX I

Agricultural conversion rates

ECU 1 = 49,3070 Belgian and Luxembourg francs 9,34812 Danish kroner 2,35418 German marks 331,890 Greek drachmas 192,319 Spanish pesetas 7,98191 French francs 0,976426 Irish punt 2 264,19 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 319,125 Greek drachmas 345,719 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 2177,11 Italian lire 2 358,53 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