Division 5.7 Regulation (EC) No 184/2005 of the European Parliament and of the Council of 12 January 2005 on Community statistics concerning balance of payments, international trade in services and foreign direct investment

As regards Regulation (EC) No 184/2005, the Commission should be empowered to specify common quality standards and the content and periodicity of the quality reports and to adapt the Annexes to economic and technical changes. Since those measures are of general scope and are designed to amend non-essential elements of Regulation (EC) No 184/2005, inter alia, by supplementing it with new non-essential elements, they must be adopted in accordance with the regulatory procedure with scrutiny provided for in Article 5a of Decision 1999/468/EC.

Accordingly, Regulation (EC) No 184/2005 is hereby amended as follows:

1. 1..

   Article 4(3) shall be replaced by the following:

   ‘3.

   The common quality standards, as well as the content and periodicity of the quality reports, shall be specified by the Commission, taking into account the implications as regards the cost of collecting and compiling the data as well as important changes concerning data collection.

   Those measures, designed to amend non-essential elements of this Regulation by supplementing it, shall be adopted in accordance with the regulatory procedure with scrutiny referred to in Article 11(3).

   The quality of the data transmitted shall be assessed, on the basis of the quality reports, by the Commission with the assistance of the Balance of Payments Committee referred to in Article 11(1).

   This assessment of the Commission shall be sent to the European Parliament for information.’;

2. 2..

   Articles 10 and 11 shall be replaced by the following:

   ‘Adaptation to economic and technical changes

   Article 10

   The following measures designed to amend non-essential elements of this Regulation, inter alia, by supplementing it, and necessary to take account of economic and technical changes shall be adopted by the Commission in accordance with the regulatory procedure with scrutiny referred to in Article 11(3):

   1. (a)

      measures updating data requirements, including submission deadlines as well as revisions, extensions and eliminations of data flows set out in Annex I;

   2. (b)

      measures updating the definitions set out in Annex II.

   Committee procedure

   Article 11

   1.

   The Commission shall be assisted by the Balance of Payments Committee (the Committee).

   2.

   Where reference is made to this paragraph, Articles 5 and 7 of Decision 1999/468/EC shall apply, having regard to the provisions of Article 8 thereof.

   The period provided for in Article 5(6) of Decision 1999/468/EC shall be set at three months.

   3.

   Where reference is made to this paragraph, Article 5a(1) to (4) and Article 7 of Decision 1999/468/EC shall apply, having regard to the provisions of Article 8 thereof.

   4.

   The ECB may attend the meetings of the Committee as an observer.’