Article V of the original Convention requires that amendments to the Schedule relate to "the conservation and utilization of whale resources". By definition, this disallows amendments that do not involve the utilization of whale resources, such as continuous zero catch limits. Article V also specifies that amendments "shall be such as are necessary to carry out the objectives and purposes of this Convention and to provide for the conservation, development and optimum utilization of whale resources". By gaining the specified number of votes for a moratorium, this article was by-passed (as were the requirements for amendments to be based on scientific findings and to take into account the interests of the consumers of whale products and the whaling industry), a loophole not foreseen by the original Convention. The same loophole was exploited to establish ocean sanctuaries.

The IWC relies on a majority voting process to make all decisions other than changes to the Schedule. This loophole enables a small majority of nations to commit the IWC to condemning all whale hunting not classified as "subsistence whaling" and to set up a Conservation Committee opposed to harvesting whales. It means that the majority can do almost anything it wants.

The zero catch limits established in the mid-1980s for commercial whaling were to be kept under scientific review and the Commission was obliged to undertake a "comprehensive assessment" of their effects on whale stocks and consider new catch limits "by 1990 at the latest". The moratorium continues to exist through a loophole that has allowed the comprehensive assessment never to be undertaken. It is, of course, perverse that the Schedule in 2004 still contains a requirement to undertake a key activity "by 1990 at the latest".

The original Convention applies to "factory ships, land stations, and whale catchers under the jurisdiction of the Contracting Governments". The clear implication is that nations without factory ships, land stations or whale catchers are not expected to be signatories. A loophole allows countries that have no commercial interests in whaling to belong to the IWC. Together with loophole numbers 1 and 2, it has even allowed them to effectively reverse the purpose of the IWC.