The Pope periodically calls a meeting of the College of Cardinals, called a Consistory'. Consistories are normally called when new cardinals are created.
Church law (canon 351) says that Cardinals are bishops, "outstanding in doctrine, virtue, piety and prudence in practical matters". Cardinals of 80 years of age or older cannot vote in a conclave, and the maximum number of electors at any time is 120 (John Paul II, Universi Dominici Gregis, 1996).