"Pioneer investor" duties; rules for sea-bed institutions considered.

• Position: International Sea-Bed Authority; International Tribunal for the Law of the Sea

How "pioneer investors" will carry out their obligations regarding seaOn bed exploration was the subject of intense discussions in the Preparatory Commission for the International Sea-Bed Authority and for the International Tribunal for the Law of the Sea at its seventh session (Kingston, 27 February-23 March). Registered as "pioneer investors" so far are France, India, japan and the USSR.

Commission Chairman Jose Luis Jesus (Cape Verde) said it was generally agreed that a group of technical experts could be assembled to formulate a plan for sea-bed exploration. Consultations on a mandate for such a group would proceed, he said.

Zambia, on behalf of the Group of 77, said the exploration plan should include cost estimates and cover all stages up to exploitation.

France, on behalf of the investors, stressed the need for compromise and the pursuit of a middle course, so that the concept of the deep sea-bed Area as the common heritage of mankind could become a tangible thing. The four investors were also willing to negotiate on all proposals concerning the discharge of their obligations. If the expert panel were mandated to prepare an exploration plan with a view to enabling the sea-bed mining Enterprise to keep pace with the pioneer investors, any suspicions would be dispelled.

In recognition of the investments that had already been made in the exploration, research and development work relating to future seabed mining, the Third UN Conference on the Law of the Sea decided, by resolution II, to establish a special regime to govern "pioneer activities" by States or entities, which would be registered as "pioneer investors" by the Preparatory Commission.

Resolution II ensures that such investors would receive mining contracts from the Authority. The special rights carry with them certain responsibilities and obligations, including a proposed $1 million annual fee, transfer of technology, and training personnel for the Enterprise-the sea-bed mining arm of the Authority.

The Commission also continued to elaborate the rules of procedure for the Sea-Bed Authority and its various organs, including a finance committee to assist in the administration of the Authority. Practical arrangements for establishing the Tribunal, rules in the mining code relating to the transfer of technology, and requirements for operating the Enterprise were other major topics discussed. Measures to assist developing land-based producer States in adjusting their economies to...