11.5.90 Official Journal of the European Communities No L 11%/1 (Acts whose publication is obligatory) COUNCIL REGULATION (EEC) No 1179/90 of 7 May 1990 amending Regulation (EEC) No 1678785 fixing the conversion rates to be applied in agriculture ' THE COUNCIL OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, Having regard to Council Regulation (EEC) No 1676/85 of 11 June 1985 on the value of the unit of account and the conversion rates to be applied for .the purposes of the common - agricultural policy (1), as last amended by Regulation (EEC) No 1636/87 (2), and in- particular Article 2 (3) thereof, Having regard to the proposal from the Commission (3), Having regard to the opinion of the Monetary Committee, Whereas the representative rates currently applicable were fixed by Regulation (EEC) No 1678/85 (), as last amended by Regulation (EEC) No 982/90 (5); Whereas new agricultural conversion rates closer. to economic reality should be set, taking into account the rates laid down for the 1990/91 marketing years,.pursuant to the automatic dismantling of monetary divergences created by the realignment of 5 January 1990; Whereas account must be taken in adjusting these rates of their impact, on prices in particular; and of the situation in the Member State concerned, HAS ADOPTED THIS REGULATION: Article 1 The Annexes to Regulation (EEC) No 1678/85 are replaced by the Annexes 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, 7 May 1990. 1 (1) O No L 164,24. 6. 1985, p. 1. (2) O]'No L 153, 13. 6..1987, p. 11. (*) OJ No C 49, 28. 2. 1990, p. 129. (*) O] No L 164, 24. 6. 1985, p. 11. (5) OJ No L 100, 20. 4. 1990, p. 8. For the Council- The President G. COLLINS