The International Football Association Board (IFAB) is considering removing the one-match ban for a player sent off after conceding a penalty.
Football's rule-making body, which consists of the four British associations and four from FIFA, has agreed that the 'triple punishment' of conceding a spot-kick and receiving a red card and one-game suspension is too severe and may be dropped.
Patrick Nelson, chief executive of the Irish FA, said: "IFAB agrees that this triple punishment is too harsh and we must find a solution. A proposal from UEFA that a yellow card rather than a red card should be shown was rejected.
"But after significant discussion it was agreed that FIFA's Disciplinary and Legal Committees should investigate the removal of the automatic one-match ban."
Should that process be completed in time to receive approval from the FIFA Congress in May, then the change could be implemented next season.
IFAB referred proposals to experiment with a video assistant for the referee and for the introduction of a fourth substitute back to its advisory panel for further discussion.
However, the member associations did agree to approve "return substitutions" at grassroots level.