Yemeni President Ali Abdullah Saleh signed a deal to step down in deal brokered by the GCC. Saleh had promised to sign the initiative multiple times since early this year before following through during meetings in Saudi Arabia last week.
Saleh handed power over to Yemen's vice president. Yemen is to have presidential elections within 90 days and implement a constitutional review.
The Security Council, in a statement, called on all parties to honor the agreement "in a serious, transparent and timely manner and in a spirit of inclusion and reconciliation."
Jamal Benomar, the U.N. special adviser on Yemen, said the political transition should include all members of Yemeni society.
"The implementation envisions meaningful participation across the full political spectrum, including the youth who paved the way for this change in the political order," he said in a statement.
Saleh announced Monday that he issued a general amnesty for those who "committed errors" during the 10-month political crisis in his country.