Brussels, 08/03/2001 (Agence Europe) - The European Commission has adopted an interim report proposing a clear strategy for improving and simplifying the EU's regulatory approach. The report, to be submitted to the European Council of Stockholm, will be followed in July by the White Paper on Governance - a far more ample exercise that will integrate the debate on regulation into that on the way the Union functions. At the end of this year, it will be followed by an action plan on the simplification and improvement of the regulatory approach. In the document adopted on Wednesday, the Commission intends to adhere to the following principles: - to legislate only where necessary; - to carry out wide-ranging consultations and impact assessments before bringing forward any proposal; - to choose the appropriate instrument; - to speed up the legislative process; - to ensure rapid transposition and effective application; - to evaluate the effects of legislation; and - to strengthen efforts for simplification of existing legislation. The report also covers complementary approaches such as self- and co-regulation.