Deep Seabed Hard Mineral Resources Act: Hearings and Markup Before the Subcommittees on International Economic Policy and Trade and on International Organizations of the Committee on Foreign Affairs, House of Representatives, Ninety-sixth Congress, on H.R. 2759 ...

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Page 150 - CREATION OF TRUST FUND. - There is established in the Treasury of the United States a trust fund to be known as the 'Deep Seabed Revenue Sharing Trust Fund...
Page 254 - No State or person, natural or juridical, shall claim, exercise or acquire rights with respect to the area or its resources incompatible with the international regime to be established and the principles of this Declaration.
Page 243 - The exploration of the area and the exploitation of its resources shall be carried out for the benefit of mankind as a whole, irrespective of the geographical location of States, whether land-locked or coastal, and taking into particular consideration the interests and needs of the developing countries.
Page 257 - Decides to convene in 1973, in accordance with the provisions of paragraph 3 below, a conference on the law of the sea which would deal with the establishment of an equitable international regime — including an international machinery — for the area and the resources of the sea-bed and the ocean floor, and the subsoil thereof, beyond the limits of national jurisdiction...
Page 257 - To study the elaboration of the legal principles and norms which would promote international co-operation in the exploration and use of the sea-bed and the ocean floor, and the subsoil thereof, beyond the limits of national jurisdiction...
Page 257 - Declares that, pending the establishment of the aforementioned international regime: (a) States and persons, physical or juridical, are bound to refrain from all activities of exploitation of the resources of the area of the sea-bed and ocean floor, and the subsoil thereof, beyond the limits of national jurisdiction; (b) No claim to any part of that area or its resources shall be recognized.
Page 243 - Area and its resources have been undertaken in such a manner as to foster healthy development of the world economy and balanced growth of international trade...
Page 108 - person' means any individual; any corporation, partnership, association, or other entity organized or existing under the laws of any state; the Federal Government; any state, regional, or local government ; or any entity of any such Federal, state, regional, or local government. "(14) The term 'public facilities and public services...
Page 243 - On the basis of the principles of this Declaration, an international regime applying to the area and its resources and including appropriate international machinery to give effect to its provisions shall be established by an international treaty of a universal character, generally agreed upon.

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