L 355/56 Official Journal of the European Union 15.12.2006 COMMISSION REGULATION (EC) No 1848/2006 of 14 December 2006 concerning irregularities and the recovery of sums wrongly paid in connection with the financing of the common agricultural policy and the organisation of an information system in this field and repealing Council Regulation (EEC) No 595/91 THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to Council Regulation (EC) No 1290/2005 of 21 June 2005 on the financing of the common agricultural policy (1), and in particular to Article 42 thereof, After consulting the European Data Protection Supervisor, Whereas: Article 2 of Regulation (EC) No 1290/2005 sets up two funds to attain the objectives of the common agriculture policy: a European Agricultural Guarantee Fund here- inafter referred to as the EAGF and a European Agri- cultural Fund for Rural Development, hereinafter referred to as the ‘EAFRD’. Article 9 of Regulation (EC) No 1290/2005 lays down principles governing the protection of the financial interests of the Community and assurances regarding the management of Community funds. In the light of the experience gained by the Commission and by the Member States, the system provided for in Council Regulation (EEC) No 595/91 of 4 March 1991 concerning irregularities and the recovery of sums wrongly paid in connection with the financing of the common agricultural policy and the organisation of an information system in this field and repealing Regulation (EEC) No 283[72 (%) should be adjusted in order to harmonize its application in the Member States, to intensify the campaign against irregularities, to enhance the effectiveness of the system of reporting irregularities, to take into account that individual irregularity cases will henceforth be cleared according to the provisions of Articles 32 and 33 of Regulation (EC) No 1290/2005 and to cover both the EAGF and the EAFRD from 1 January 2007 onwards. To that end, provision should also be made in order to include in that system irregula- rities concerning assigned revenues as referred to in () OJ L 209, 11.8.2005, p. 1. Regulation as amended by Regulation (EC) No 320/2006 (O] L 58, 28.2.2006, p. 42). () OJ L 67, 143.1991, p. 11. (10) Article 34(1) points (b) and (c) of Regulation (EC) No 1290/2005. It is necessary to specify that the definition of ‘irregu- larity’ used for the purposes of this Regulation is taken from Article 1(2) of Council Regulation (EC, Euratom) No 2988/95 of 18 December 1995 on the protection of the European Communities’ financial interests (). It is necessary to define the term ‘suspected fraud’, taking account of the definition of fraud contained in the Convention on the protection of the European Commu- nities’ financial interests drawn up on the basis of Article K.3 of the Treaty on European Union (4). It is necessary to specify that the definition of ‘first administrative or judicial finding’ is taken from Article 35 of Regulation (EC) No 1290/2005. It is also necessary to define the terms ‘bankruptcy’ and ‘economic operator’. In order to enhance the added value of the reporting system, the obligation to report cases of suspected fraud for the purposes of risk analysis should be more clearly determined and for this purpose the quality of the information to be supplied should be more closely defined. With a view to ascertaining the nature of fraudulent practices and the financial effects of irregularities and to monitoring the recovery of sums wrongly paid, provision should be made for irregularities to be commu- nicated to the Commission at least every quarter; such communication should be supplemented by information on the progress of judicial or administrative procedures. The overall results of the reporting exercise each year are brought to the notice of the Committee referred to in Article 2(1) of Commission Decision 94/140/EC of 23 February 1994 setting up an advisory committee for the coordination of fraud prevention (°). () O] L 312, 23.12.1995, p. 1. (4 O] C 316, 27.11.1995, p. 49. () O] L 61, 4.3.1994, p. 27. Decision as amended by Decision 2005/223[EC (O] L 71, 17.3.2005, p. 67).