Decision ID: 002547

In October 1996 the 1971 Fund Assembly was requested by the observer delegation of the Arab Republic of Egypt to reconsider whether Article 10.1 of the 1971 Fund Convention should apply to oil passing through the SUMED pipeline. It was recalled that when the Assembly had last considered the matter at its 16th (October 1993) session there had not been a majority of delegations in favour of the request made by the Egyptian Government that the oil involved should not be taken into account for the purpose of levying contributions to the 1971 Fund. The Assembly decided that, since no new elements had been presented, the matter should not be considered further at that stage.