12.10.2006 Official Journal of the European Union L 281/15 COMMISSION REGULATION (EC) No 1503/2006 of 28 September 2006 implementing and amending Council Regulation (EC) No 1165/98 concerning short-term statistics as regards definitions of variables, list of variables and frequency of data compilation THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, Having regard to Council Regulation (EC) No 1165/98 of 19 May 1998 concerning short term statistics (), and in particu- lar Article 17(b) to (d) thereof, Whereas: (1) Regulation (EC) No 1165/98 established a common frame- work for the production of short-term Community statis- tics on the business cycle and laid down the required variables. (2)  Regulation (EC) No 1158/2005 introduced new variables and imposed new obligations on Member States concern- ing data collection. (3)  As a consequence, implementing measures, as well as amendments to Regulation (EC) No 1165/98, are neces- sary with regard to definitions of variables, the list of vari- ables and the frequency of data compilation. (4)  Commission Regulation (EC) No 588/2001 of 26 March 2001 implementing Council Regulation (EC) No 1165/98 concerning short-term statistics as regards the definitions of variables (2) should be therefore replaced by this Regulation. (5)  The measures provided for in this Regulation are in accor- dance with the opinion of the Statistical Programme Committee, () OJ L 162, 5.6.1998, p. 1. Regulation as last amended by Regulation (EC) No 1158/2005 of the European Parliament and of the Council (OJ L 191, 22.7.2005, p. 1). () OJ L 86, 27.3.2001, p. 18. HAS ADOPTED THIS REGULATION: Article 1 Definitions of variables 1.  The definitions of the variables laid down in Annexes A to D to Regulation (EC) No 1165/98, as well as their objectives, characteristics and ways of calculation of the relevant indices, are described in Annex I to this Regulation. 2. Member States shall start to apply these definitions for the collection of statistical data not later than one year from the date of entry into force of this Regulation. 3. Full compliance with these definitions should be achieved not later than at the next revision of the base year as provided in Article 11 of Regulation (EC) No 1165/98. 4. Member States shall ensure that existing statistical data cov- ered by Regulation (EC) 1165/98 will be revised by recalculation or estimation to satisfy these definitions. 5. Each Member State shall transmit to the Commission, at its request, any relevant information on the conformance of sta- tistical data to the definitions set forth in Annex I to this Regu- lation. Results for a variable differing by not more than 0,2 % from the results of a variable which conforms with the defini- tions of the variable laid down in Annex I shall be deemed conforming. Article 2 Amendments to Regulation (EC) No 1165/98 Annex B to Regulation (EC) No 1165/98 is amended as shown in Annex II to this Regulation.