Decision ID: 002997

In October 2004 the 1971 Fund Administrative Council decided that the most equitable and practicable way of distributing the surplus on the General Fund would be first to distibute any surplus between the States on the basis of the percentage of the total contributions made to the General Fund by contributors in the respective State with the amount allocated to a given State then distributed between the contributors in that State on the basis of the quantities of contributing oil reported as having been received during 1997 by each contributor in that State, ie the last full year before the end of the transitional period between the 1971 Fund and the 1992 Fund (15 May 1998).