1 DE AGOSTO DE 1997

1340-(235)

Article 9

Depositary

The Secretary-General of the United Nations shall be the depositary of this Agreement.

Article 10

Authentic texts

The original of this Agreement, of which the Arabic, Chinese, English, French, Russian and Spanish texts are equally authentic, shall be deposited with the Secretary-General of the United Nations.

In witness whereof, the undersigned plenipotentiaries, being duly authorized thereto, have signed this Agreement.

Done at New York, this 28 day of July, one thousand nine hundred and ninety-four.

ANNEX SECTION 1

Costs to States Parties and institutional arrangements

1 — The International Sea-Bed Authority (hereinafter referred to as «the Authority*) is the organization through which States Parties to the Convention shall, in accordance with the regime for the Area established in part xi and this Agreement, organize and control activities in the Area, particularly with a view to administering the resources of the Area. The powers and functions of the Authority shall be those expressly conferred upon it by the Convention. The Authority shall have such incidental powers, consistent with the Convention, as are implicit in, and necessary for, the exercises of those powers and functions with respect to activities in the Area.

2 — In order to minimize costs to States Parties, all organs and subsidiary bodies to be established under the Convention and this Agreement shall be cost-effective. This principle shall also apply to the frequency, duration and scheduling of meetings.

3 — The setting up and the functioning of the organs and subsidiary bodies of the Authority shall be based on an evolutionary approach, taking into account the functional needs of the organs and subsidiary bodies concerned in order that they may discharge effectively their respective responsibilities at various stages of the development of activities in the Area.

4 — The early functions of the Authority upon entry into force of the Convention shall be carried out by Assembly, the Council, the Secretariat, the Legal and Technical Commission and the Finance Committee. The functions of the Economic Planning Commission shall be performed by the Legal and Technical Commission until such time as the Council decides otherwise or until the approval of the first plan of work for exploitation.

5 — Between the entry into force of the Convention and the approval of the first plan of work for exploitation, the Authority shall concentrate on:

a) Processing of applications for approval of plans of work for exploration in accordance with part xi and this Agreement;

b) Implementation of decisions of the Preparatory Commission for the International Sea-Bed Authority and for the International Tribunal for

the Law of the Sea (hereinafter referred to as «the Preparatory Commission») relating to be registered pioneer investors and their certifying States, including their rights and obligations, in accordance with article 308, paragraph 5, of the Convention and Resolution II, paragraph 13;

c) Monitoring of compliance with plans of work of exploration approved in the form of contracts;

d) Monitoring and review of trends and developments relating to deep sea-bed mining activities, including regular analysis of world metal market conditions and metal prices, trends and prospects;

e) Study of the potential impact of mineral production from the Area on the economies of developing land-based producers of those minerals which are likely to be most seriously affected, with a view to minimizing their difficulties and assisting them in their economic adjustment, taking into account the work done in this regard by the Preparatory Commission;

J) Adoption of rules, regulations and procedures necessary for the conduct of activities in the Area as they progress. Notwithstanding the provisions of annex in, article 17, paragraph 2, b) and c), of the Convention, such rules, regulations and procedures shall take into account the terms of this Agreement, the prolonged delay in commercial deep sea-bed mining and the likely pace of activities in the Area;.

g) Adoption of rules, regulations and procedures incorporating applicable standards for the protection and preservation of the marine environment;

h) Promotion and encouragement of the conduct of marine scientific research with respect to activities in the Area and the collection and dissemination of the results of such research and analysis, when available, with particular emphasis on research related to the environmental impact of activities in the Area;

i) Acquisition of scientific knowledge and monitoring of the development of marine technology relevant to activities in the Area, in particular technology relating to the protection and preservation of the marine environment;

/) Assessment of available data relating to prospecting and exploration;

k) Timely elaboration of rules, regulations and procedures for exploitation, including those relating to the protection and preservation of the marine environment.

6 — a) An application for approval of a plan of work for exploration shall be considered by the Council following the receipt of a recommendation on the application from the Legal and Technical Commission. The processing of an application for approval of a plan of work for exploration shall be in accordance with the provisions of the Convention, including annex in thereof, and this Agreement, and subject to the following:

i) 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 Hi), other than a registered pioneer investor, which had already undertaken substantial activities in the Area prior to the