31994R1972

No L 198/ 114 Official Journal of the European Communities 30 . 7. 94

COMMISSION REGULATION (EC) No 1972/94 of 29 July 1994 fixing the agricultural conversion rates

THE COMMISSION OF THE EUROPEAN COMMUNITIES, Whereas Article 15 (3) of Regulation (EEC) No 1068/93 provides that an agricultural conversion rate fixed in Having regard to the Treaty establishing the European advance shall be adjusted if the gap between that rate and Community, the agricultural conversion rate in force at the time of the operative event applicable for the currency concerned Having regard to Council Regulation (EEC) No 3813/92 exceeds four points ; whereas, in that event, the agricul­ of 28 December 1992 on the unit of account and the tural conversion rate fixed in advance is brought more conversion rates to be applied for the purposes of the closely into line with the rate in force, up to the level of a common agricultural policy ('), as last amended by Regu­ gap of four points with that rate ; whereas the rate which lation (EC) No 3528/93 (2), and in particular Article 3 ( 1 ) replaces the agricultural conversion rate fixed in advance thereof, should be specified,

Whereas the agricultural conversion rates were fixed by HAS ADOPTED THIS REGULATION : Commission Regulation (EC) No 171 1 /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 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 in advance shall be replaced by the ecu rate for the Whereas the representative market rates are determined currency concerned, shown in Annex II : on the basis of reference periods established in accord­ — Table A, where the latter rate is higher than the rate ance with Commission Regulation (EEC) No 1068/93 of fixed in advance, 30 April 1993 on detailed rules for determining and or applying the agricultural conversion rates (4), as amended by Regulation (EC) No 547/94 0 ; — Table B, where the latter rate is lower than the rate fixed in advance . Whereas, as a consequence of the exchange rates recorded Article 3 during the reference period 21 to 31 July 1994, it is necessary on the one hand to fix the limits referred to in Regulation (EC) No 1711 /94 is hereby repealed. paragraphs 1 and 3 of Article 4a of Regulation (EEC) No 3813/92 at + 3,270 and — 1,730 and on the other Article 4 hand to fix a new agricultural conversion rate for the Italian lira ; This Regulation shall enter into force on 1 August 1994.

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

Done at Brussels, 29 July 1994.

For the Commission Rene STEICHEN Member of the Commission

(') OJ No L 387, 31 . 12. 1992, p. 1 . O OJ No L 320, 22. 12. 1993, p. 32. (3) OJ No L 180, 14. 7. 1994, p. 28 . (") OJ No L 108 , 1 . 5. 1993, p. 106. O OJ No L 69, 12. 3. 1994, p. 1 .

30 . 7. 94 Official Journal of the European Communities No L 198 / 115

ANNEX I

Agricultural conversion rates

ECU 1 = 49,3070 Belgian and Luxembourg francs 9,34812 Danish kroner 2,35418 German marks 346,789 Greek drachmas 192,319 Spanish pesetas 7,98191 French francs 0,976426 Irish punt 2 294,57 Italian lire 2,65256 Dutch guilders 239,331 Portuguese escudos 0,946550 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 333,451 Greek drachmas 361,239 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 2 206,32 Italian lire 2 390,18 Italian lire 2,55054 Dutch guilders 2,76308 Dutch guilders 230,126 Portuguese escudos 249,303 Portuguese escudos 0,910144 Pound sterling 0,985990 Pound sterling