Article 46U.K.
1.Every project for establishing a Joint Undertaking, whether originating from the Commission, a Member State or any other quarter, shall be the subject of an inquiry by the Commission.
For this purpose, the Commission shall obtain the views of Member States and of any public or private body which in its opinion can usefully advise it.
2.The Commission shall forward to the Council any project for establishing a Joint Undertaking, together with its reasoned opinion.
If the Commission delivers a favourable opinion on the need for the proposed Joint Undertaking, it shall submit proposals to the Council concerning:
(a)location;
(b)statutes;
(c)the scale of and timetable for financing;
(d)possible participation by the Community in the financing of the Joint Undertaking;
(e)possible participation by a third State, an international organisation or a national of a third State in the financing or management of the Joint Undertaking;
(f)the conferring of any or all of the advantages listed in Annex III to this Treaty.
The Commission shall attach a detailed report on the project as a whole.