COUNCIL EXAMINES FINANCE COMMITTEE REPORT, INCLUDING PLAN TO CONTINUE FUND FOR DEVELOPING COUNTRY PARTICIPATION

COUNCIL EXAMINES FINANCE COMMITTEE REPORT, INCLUDING PLAN TO CONTINUE

FUND FOR DEVELOPING COUNTRY PARTICIPATION

CORRECTION

In Press Release SEA/1783, issued yesterday, 4 August, the last two sentences of the second full paragraph on page 2 should read:  “In the 1980s, the registration applicants paid the Preparatory Commission for the Authority and the International Tribunal for the Law of the Sea.  These funds were later transferred to the ISA Secretary-General and have been earning interest.”     

In the third full paragraph on page 3, the second sentence should read:  “Senegal, objecting to the requirement that governments explain why they could not pay, said the purpose was to allow universal participation; moreover, the principle applied in the United Nations system was ‘first-come-first served’.”

On page 4, the next-to-last paragraph should read:  “After hearing a request by one Committee member that the ISA scale of budgetary assessments be adjusted in line with a change made in the United Nations scale (a reduction of Argentina’s rate), the Committee said there was no reason to adjust the ISA scale now, since the State in question had not made a request.”

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