19. 12. 92 Official Journal of the European Communities ‘ No L 370/73 COUNCIL REGULATION (EEC) No 3679/92 of 17 December 1992 amending Regulation (EEC) No 1678/85 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 ("), and in particular Article 2 (3) thereof, ' Having regard to the proposal from the Commission, Having regard to the opinion of the Monetary Committee, Whereas the agricultural conversion rates currently applicable were fixed by Regulation (EEC) No 1678/85(); Whereas new agriculture rates closer to economic reality should be set; Whereas account must be taken in adjusting these rates of their impact, in particular on prices, and of the situation in the Member State concerned, HAS ADOPTED THIS REGULATION : Article 1 Annexes V and VIII to Regulation (EEC) No 1678/85 are replaced by the Annex hereto. Article 2 This Regulation shall enter into force on 22 December 1992. This Regulation shall be binding in its entirety and directly applicable in all Member States. . Done at Brussels, 17 December 1992. For the Council The President J. GUMMER (") OJ No L 164, 24. 6. 1985, p. 1. Last amended by Regulation (EEC) No 2205/90 (O] No L 201, 31. 7. 1990, p. 9). () OJ No L 164, 24. 6. 1985, p. 11. Last amended by Regulation (EEC) No 3388/92 (O] No L 344, 26. 11. 1992, p. 28). .