A Community Advisory Committee, consisting of two members from each Member State (usually one from the government and one from the central bank) and two members appointed by the European Commission. It was created in 1958 on the basis of Article 105 of the EEC Treaty. Its aim is to promote the coordination of the policies of the Member States to the maximum extent necessary for the functioning of the internal market. Article 109c of the Treaty lists a number of areas in which the Committee contributes to the preparation of material for the Council. At the beginning of the third stage (Economic and Monetary Union), the Monetary Committee was dissolved and replaced by the Economic and Financial Committee.