The new US-UK draft resolution on Iraq has been presented to the 15-member UN Security Council. It's hoped there will be debate and a vote on the document no later than the end of the week. There is little substantial difference between this version and the second draft, but it does give Iraq one last chance to comply with UN weapons criteria. It does not contain the menace of immediate military action should Iraq further hinder the work of weapons inspectors, but it doesn't oblige the US and Britain to seek a new resolution on a military strike, which the Security Council can now trigger. Saddam Hussein will note "serious consequences" are promised in the text if he does not play ball, and no permanent member's veto is now expected.