Libyan leader Muammar Gaddafi was looking for an agreement allowing him to step down, said Al Jazeera quoting sources in the governing council.

The Arab newspaper said Gaddafi wanted guarantees of personal safety for himself and his family members, besides assurances that they would not be subjected to any trial by the rebels or successive governments.

However, the council had apparently rejected the proposal, said Al Jazeera's Benghazi correspondent, quoting sources from the council.

Reuters also said a source close to the council said there was a formula on similar lines which would see Gaddafi hand power to the head of parliament and leave the country with a certain guaranteed sum of money... I was told that this issue of money is a serious obstacle from the national council's point of view.

But the report said Essam Gheriani, a media officer for the council, said no such proposal was made. No such offer has been put to the council as far as I am aware, Reuters said quoting him.