Acting under Chapter VII of the United Nations Charter, the Council decided to terminate arrangements established in Resolution 1483 (2003) for depositing proceeds from exports of petroleum, petroleum products and natural gas into the Development Fund for Iraq and its monitoring by the International Advisory and Monitoring Board on June 30, 2011. After this date, the arrangements would not apply, and 5 percent of the proceeds would be deposited in the Compensation Fund established in Resolution 687 (1991).[1]