Under the codecision procedure i between Council i and Parliament i, a Conciliation Committee may be set up as provided for in Article 294 i of the Treaty on the Functioning of the European Union i (TFEU). It can be convened to resolve any disagreements between the two institutions following the second reading of a legislative proposal.
Comprising members of the Council or their representatives and an equal number of representatives of Parliament, the Committee is co-chaired by the President of the Parliament and the President of the Council i. Its mission is to reach agreement on a text acceptable to both parties. The Commission i also plays a part in the Conciliation Committee to help the European Parliament and the Council to resolve their differences.
The Council and the Parliament must adopt the proposal within the six weeks following the convening of the Committee:
-by an absolute majority of the votes cast in Parliament;
-by a qualified majority i in the Council.
Should one of the two institutions reject the proposal, it is deemed not to have been adopted.
If the Committee is convened for budgetary matters, it must provide a decision within the twenty-one days following its meeting. The Parliament and the Council must therefore approve the joint budget plan within fourteen days.