FRONT MATTER.PMD - International Seabed Authority

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Regulations: reg. 12
the case of a partnership or consortium of entities from more than one State, each
State involved shall issue a certificate of sponsorship.
2. Where the applicant has the nationality of one State but is effectively
controlled by another State or its nationals, each State involved shall issue a certificate
of sponsorship.
3. Each certificate of sponsorship shall be duly signed on behalf of the
State by which it is submitted and shall contain:
(a) the name of the applicant;
(b) the name of the sponsoring State;
(c) a statement that the applicant is:
(i) a national of the sponsoring State; or
(ii) subject to the effective control of the sponsoring State or its nationals;
(d) a statement by the sponsoring State that it sponsors the applicant;
(e) the date of deposit by the sponsoring State of its instrument of ratifica-
(f)
tion of, or accession or succession to, the Convention;
a declaration that the sponsoring State assumes responsibility in accordance
with article 139, article 153, paragraph 4, and Annex III, article 4,
paragraph 4, of the Convention.
4. States or entities in a joint arrangement with the Enterprise shall also
comply with this regulation.
Regulation 12
Financial and technical capabilities
1. Each application for approval of a plan of work for exploration shall contain
specific and sufficient information to enable the Council to determine whether
the applicant is financially and technically capable of carrying out the proposed plan
of work for exploration and of fulfilling its financial obligations to the Authority. 4
2. An application for approval of a plan of work for exploration submitted
on behalf of a State or entity, or any component of such entity, referred to in resolution
II, paragraph 1(a)(ii) or (iii), other than a registered pioneer investor, which has
already undertaken substantial activities in the Area prior to the entry into force of
the Convention, or its successor in interest, shall be considered to have met the
financial and technical qualifications necessary for approval of a plan of work for
exploration if the sponsoring State or States certify that the applicant has expended
an amount equivalent to at least US$ 30 million in research and exploration activities
and has expended no less than 10 per cent of that amount in the location, survey
and evaluation of the area referred to in the plan of work for exploration.
4
A registered pioneer investor requesting approval of a plan of work for exploration under
paragraph 6(a)(ii) of section 1 of the annex to the Agreement shall be considered to have
satisfied the financial and technical qualifications necessary for approval of a plan of work.