FRONT MATTER.PMD - International Seabed Authority

Regulations: regs. 29-31
243
Regulation 29
Termination of sponsorship
1. Each contractor shall have the required sponsorship throughout the period
of the contract.
2. If a State terminates its sponsorship it shall promptly notify the Secretary-General
in writing. The sponsoring State should also inform the
Secretary-General of the reasons for terminating its sponsorship. Termination of
sponsorship shall take effect six months after the date of receipt of the notification
by the Secretary-General, unless the notification specifies a later date.
3. In the event of termination of sponsorship the contractor shall, within
the period referred to in paragraph 2, obtain another sponsor. Such sponsor shall
submit a certificate of sponsorship in accordance with regulation 11. Failure to
obtain a sponsor within the required period shall result in the termination of the
contract.
4. A sponsoring State shall not be discharged by reason of the termination
of its sponsorship from any obligations accrued while it was a sponsoring State,
nor shall such termination affect any legal rights and obligations created during
such sponsorship.
5. The Secretary-General shall notify the members of the Authority of the
termination or change of sponsorship.
Regulation 30
Responsibility and liability
Responsibility and liability of the contractor and of the Authority shall be in
accordance with the Convention. The contractor shall continue to have responsibility
for any damage arising out of wrongful acts in the conduct of its operations,
in particular damage to the marine environment, after the completion of the exploration
phase.
PART V - PROTECTION AND PRESERVATION OF
THE MARINE ENVIRONMENT
Regulation 31
Protection and preservation of the marine environment
1. The Authority shall, in accordance with the Convention and the Agreement,
establish and keep under periodic review environmental rules, regulations
and procedures to ensure effective protection for the marine environment from
harmful effects which may arise from activities in the Area.
2. In order to ensure effective protection for the marine environment from
harmful effects which may arise from activities in the Area, the Authority and
sponsoring States shall apply a precautionary approach, as reflected in Principle