On 5 March 1997, the Security Council Committee established by resolution 661 (1990), which is monitoring the sanctions against Iraq, approved the following Points of Understanding relating to the implementation of resolution 986 (1995): Points of Understanding
1. Unless the Committee decides otherwise on a case-by-case basis, the Secretariat will continue processing applications submitted on a first-come- first-serve basis.
2. Funds allocated to applications that have been blocked under the Committee's no-objection procedure will immediately be freed and used for processing further applications. Funds allocated to applications that have been placed on hold will be freed five working days after the date of the no- objection deadline and used for processing further applications. If such blocks and holds are removed, the applications concerned will have immediate priority for the allocation of funds.
3. A separate Status List on applications processed under resolution 986 (1995) will be prepared by the Secretariat and circulated to the members of the Committee on a weekly basis. Such lists will be dealt with in the same way as those prepared under resolution 661 (1990) (blocks recorded on the list will become official when the Committee adopts the lists at one of its formal meetings).
4. To expedite the processing of humanitarian supplies to Iraq, applications that have been pre-examined by the experts in the Secretariat but have not been processed due to the lack of funds in the Iraq Account will be made available with the experts' comments in advance to the members of the Committee for their pre-screening. These applications will be officially processed once the required funds become available.
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