31994R0752

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 (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 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 Regulation (EC) No 106/94 is hereby repealed. provides that an agricultural conversion rate fixed in

(') 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.

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