What is the Co-decision procedure / ordinary legislative procedure?
The primary method for enacting legislation in EU. It gives the European Parliament and the Council of the EU equal status as co-legislators to jointly adopt laws proposed by the European Commission.
Introduced in the Treaty on European Union / Maastricht Treaty (1992). Solidified in teh Lisbon Treaty (2007)
What are the steps of the Ordinary Legislative Procedure and who are involved?
1st, 2nd and 3rd reading. First reading in the Parliament, then in the Council
What is the role of the Conciliation Committee?
Part of the Ordinary Legislative Procedure.
If there is not agreement between Parliament and Council after second reading, then the 3. Conciliation Committee is convened to help reach an agreement.