Page 112 - Microsoft Word - SD16-En-Fin

This is a SEO version of Microsoft Word - SD16-En-Fin. Click here to view full version

« Previous Page Table of Contents Next Page »

107 

5.  Decides  to increase the level of the Working Capital Fund to $560,000 as set out in paragraph 6 of the report of the Finance Committee (ISBA/16/A/5‐ISBA/16/C/8) on the understanding that such additional advances to the Working Capital Fund as may be necessary will be spread over the next two financial periods;  

6.  Appeals  to all members of the Authority to contribute to the International Seabed Authority Endowment Fund for Marine Scientific Research and to the Voluntary Trust Fund.  

___________ 

 

ISBA/16/C/12 Decision of the Council relating to the regulations on prospecting 

and exploration for polymetallic sulphides in the Area

 

  

Date: 6 May 2010 

161st meeting    [ISBA/16/C/L.6]  

  The Council of the International Seabed Authority

 

1.  Decides  to adopt the regulations on prospecting and exploration for polymetallic sulphides in the Area, as contained in document ISBA/16/C/L.5, dated 4 May 2010;  

2.  Decides  further to apply the regulations provisionally, pending their approval by the Assembly of the Authority;  

3.  Requests  the Legal and Technical Commission, in due course, to elaborate the appropriate criteria that might be used to prevent monopolization of activities in the Area with respect to polymetallic sulphides and to report to the Council for its consideration;   

4.  Decides also  that the procedures set out in the Annex to the present decision shall have effect for a total period of one year following the date of its adoption.  

Annex 

 

1. Applicants and their sponsoring States and prospective applicants and their sponsoring States shall use their best efforts to ensure, before making an application pursuant to the Regulations on prospecting and exploration for polymetallic sulphides in the Area (“the Regulations”), that areas in respect of which applications are made do not overlap.  

2. During the period of 180 days from the date of adoption of the present decision if, within 30 days of the date upon which an application for a plan of work for exploration for polymetallic sulphides is received by the Secretary‐General in accordance with regulation 22 of the Regulations, one or more other applications for a plan of work for exploration for polymetallic sulphides are submitted that overlap with the same area or areas, the Secretary‐General shall immediately notify all applicants concerned.  

3. The applicants concerned and, as appropriate, their sponsoring States shall try to resolve any conflicts with respect to overlapping applications as soon as possible. The Secretary‐General may use his or her good offices to mediate the overlapping applications and, if appropriate, propose a solution. Any such applicants may, within 90 days of the notification by the Secretary‐General under paragraph 2, amend their applications so as to resolve the overlapping applications.

Page 112 - Microsoft Word - SD16-En-Fin

This is a SEO version of Microsoft Word - SD16-En-Fin. Click here to view full version

« Previous Page Table of Contents Next Page »