22 DE FEVEREIRO DE 1997

358-(55)

rules, regulations and procedures pursuant to annex in, article 17, to implement this paragraph.

8 — Rights and obligations relating to unfair economic practices under relevant multilateral trade agreements shall apply to the exploration for and exploitation of minerals from the Area. In the settlement of disputes arising under this provision, States Parties which are Parties to such multilateral trade agreements shall have recourse to the dispute settlement procedures of such agreements.

9 — The Authority shall have the power to limit the level of production of minerals from the Area, other than minerals from polymetallic nodules, under such conditions and applying such methods as may be appropriate by adopting regulations in accordance with article 161, paragraph 8.

10 — Upon the recommendation of the council on the basis of advice from the Economic Planing Commission, the Assembly shall establish a system of compensation or take other measures of economic adjustment assistance including co-operation with specialized agencie and other international organizations to assist developing countries which suffer serious adverse effects on their export earnings or economies resulting from a reduction in the price of an affected mineral or in the volume of exports of that mineral, to the extent that such reduction is cause by activities in the Area. The Authority on request shall initiate studies on the problems of those States which are likely to be most seriously affected with a view to minimizing their difficulties and assisting them in their economic adjustment.

Article 152 Exercise of powers and functions by the Authority

1 — The Authority shall avoid discrimination in the exercise of its powers and functions, including the granting of opportunities for activities in the Area.

2 — Nevertheless, special consideration for developing States, including particular consideration for the land-locked and geographically disadvantaged among them; specifically provided for in this part shall be permitted.

Article 153 System of exploration and exploitation

1 — Activities in the Area shall be organized, carried out and controlled by the Authority on behalf of mankind as a whole in accordance with this article as well as other relevant provisions of this part and the relevant annexes, and the rules, regulations and procedures of the Authority.

2 — Activities in the Area shall be carried out as prescribed in paragraph 3:

a) By the Enterprise, and

b) In association with the Authority by States Parties, or state enterprises or natural or juridical persons which possess the nationality of States Parties or are effectively controlled by them or their nationals, when sponsored by such States, or any group of the foregoing which meets the requirements provided in this part and in

annex in.

3 — Activities in the Area shall be carried out in accordance with a formal written plan of work drawn

up in accordance with annex m and approved by the Council after review by the Legal and Technical Commission. In the case of activities in the Area carried out as authorized by the Authority by the entities specified in paragraph 2, b), the plan of work shall, in accordance with annex m, article 3, be in the form of a contract. Such contracts may provide for joint arrangements in accordance with annex in, article 11.

4 — The Authority shall exercise such control over activities in the Area as is necessary for the purpose of securing compliance with the relevant provisions of this part and the annexes relating thereto, and the rules, regulations and procedures of the Authority, and the plans of work approved in accordance with paragraph 3. States Parties shall assist the Authority by taking all measures necessary to ensure such compliance in accordance with article 139.

5 — The Authority shall have the right to take at any time any measures provided for under this part to ensure compliance with its provisions and the exercise of the functions of control and regulation assigned to it thereunder or under any contract. The Authority shall have the right to inspect all installations in the Area used in connection with activities in the Area.

6 — A contract under paragraph 3 shall provide for security of tenure. Accordingly, the contract shall not be revised, suspended or terminated except in accordance with annex in, articles 18 and 19.

Article 154 Periodic review

Every five years from the entry into force of this Convention, the' Assembly shall undertake a general and systematic review of the manner in which the international régime of the Area established in this Convention has operated in practice. In the light of this review the Assembly may take, or recommend that other organs take, measures in accordance with the provisions and procedures of this part and the annexes relating thereto which will lead to the improvement of the operation of the régime.

Article 155

The Review Conference

1 — Fifteen years from 1 January of the year in which the earliest commercial production commences under an approved plan of work, the Assembly shall convene a conference for the review of those provisions of this part and the relevant annexes which govern the system of exploration and exploitation of the resources of the Area. The Review Conference shall consider in detail, in the light of the experience acquired during that period:

a) Whether the provisions of this part which govern the system of exploration and exploitation of the resources of the Area have achieved their aims in all respects, including whether they have benefited mankind as a whole;

b) Whether, during the 15-year period, reserved areas have been exploited in an effective and balanced manner in comparison with non-reserved areas;

c) Whether the development and use of the Area and its resources have been undertaken in such a manner as to foster healthy development of