The Council approved, without debate, the draft Regulation aiming to amend Regulation 1605/2002/EC on the Financial Regulation applicable to the general budget of the European Communities.
This draft will be sent to the European Parliament with the view to reaching an agreement on the text before its adoption by the Council. The Council suggests that the conciliation meeting be held alongside the forthcoming Ecofin (Budget) Council meeting in Brussels on 21 November 2006.