The International Automobile Federation (FIA) said in a statement on Thursday that there is "a lack of clarity" in the application of a rule prohibiting overtaking when the safety car was deployed on the last lap of a race.
"Adjustments to the regulations are necessary to clarify the procedure that cars must meet when the last lap is controlled by the safety car whilst also ensuring that the signalling for teams and drivers is made more clear," it added.
"The Formula One Commission, upon a proposal of the F1 Sporting Working Group will submit an amendment to the sporting regulations to address this issue."
The FIA said the amendments would be considered by its World Motor Sport Council at a meeting in Geneva on June 23.
Seven times world champion Schumacher overtook Ferrari's [ Images ] Fernando Alonso [ Images ] for sixth place at the final corner of the race moments after the safety car had turned into the pit lane.
The Mercedes [ Images ] driver, making a comeback this season at the age of 41, was then handed a 20 second penalty which demoted him to 12th.
Mercedes had planned to appeal the penalty but said on Tuesday they had decided not to in the best interests of the sport.
The team argued that while the rules state that no overtaking is allowed if a race finishes under safety car conditions, that was not apparent in Monaco with marshals waving green flags while race control sent messages declaring the track to be clear.