Section 134p. 134

PUBLIC INTERNATIONAL LAW COMPENDIUM VOLUME I

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 the world economy and

balanced growth of international trade;

(d) whether monopolization of activities in the Area has

been prevented;

(e) whether the policies set forth in articles 150 and 151

have been fulfilled; and

(f) whether the system has resulted in the equitable

sharing of benefits derived from activities in the Area,

taking into particular consideration the interests and

needs of the developing States.

2. The Review Conference shall ensure the maintenance

of the principle of the common heritage of mankind, the

international

regime

designed

to

ensure

equitable

exploitation of the resources of the Area for the benefit of

all countries, especially the developing States, and an

Authority to organize, conduct and control activities in

the Area. It shall also ensure the maintenance of the

principles laid down in this Part with regard to the

exclusion of claims or exercise of sovereignty over any

part of the Area, the rights of States and their general

conduct in relation to the Area, and their participation in

activities in the Area in conformity with this Convention,

the prevention of monopolization of activities in the Area,

the use of the Area exclusively for peaceful purposes,

economic

aspects

of

activities

in

the

Area,

marine

scientific research, transfer of technology, protection of

the marine environment, protection of human life, rights

of

coastal

States,

the

legal

status

of

the

waters

superjacent to the Area and that of the air space above

those waters and accommodation between activities in

the Area and other activities in the marine environment.

3.

The

decision-making

procedure applicable at the

Review Conference shall be the same as that applicable

at the Third United Nations Conference on the Law of the

Sea. The Conference shall make every effort to reach

agreement on any amendments by way of consensus

and there should be no voting on such matters until all

efforts at achieving consensus have been exhausted.

4. If, five years after its commencement, the Review

Conference has not reached agreement on the system of

exploration and exploitation of the resources of the Area,

it may decide during the ensuing 12 months, by a

three-fourths majority of the States Parties, to adopt and

submit to the States Parties for ratification or accession

such amendments changing or modifying the system as

it

determines

necessary

and

appropriate.

Such

amendments shall enter into force for all States Parties 12

months after the deposit of instruments of ratification or

accession by three fourths of the States Parties.

5.

Amendments

adopted by the Review Conference

pursuant to this article shall not affect rights acquired

under existing contracts.

SECTION 4. THE AUTHORITY

SUBSECTION A. GENERAL PROVISIONS

Article 156. Establishment of the Authority

1. There is hereby established the International Seabed

Authority, which shall function in accordance with this

Part.

2. All States Parties are ipso facto members of the

Authority.

3. Observers at the Third United Nations Conference on

the Law of the Sea who have signed the Final Act and

who are not referred to in article 305, paragraph 1(c), (d),

(e) or (f), shall have the right to participate in the Authority

as observers, in accordance with its rules, regulations and

procedures.

4. The seat of the Authority shall be in Jamaica.

5. The Authority may establish such regional centres or

offices as it deems necessary for the exercise of its

functions.

Article 157. Nature and fundamental principles of the

Authority

1. The Authority is the organization through which States

Parties shall, in accordance with this Part, organize and

control activities in the Area, particularly with a view to

administering the resources of the Area.

2. The powers and functions of the Authority shall be

those expressly conferred upon it by this Convention. The

Authority shall have such incidental powers, consistent

with this Convention, as are implicit in and necessary for

the exercise of those powers and functions with respect

to activities in the Area.

3. The Authority is based on the principle of the sovereign

equality of all its members.

4. All members of the Authority shall fulfil in good faith

the obligations assumed by them in accordance with this

Part in order to ensure to all of them the rights and

benefits resulting from membership.

Article 158. Organs of the Authority

1. There are hereby established, as the principal organs of

the Authority, an Assembly, a Council and a Secretariat.

2. There is hereby established the Enterprise, the organ

through which the Authority shall carry out the functions

referred to in article 170, paragraph 1.

3. Such subsidiary organs as may be found necessary may

be established in accordance with this Part.

4.

Each

principal

organ

of

the

Authority

and

the

Enterprise

shall

be

responsible

for

exercising

those

powers and functions which are conferred upon it. In

exercising such powers and functions each organ shall

avoid taking any action which may derogate from or

impede the exercise of specific powers and functions

conferred upon another organ.

SUBSECTION B. THE ASSEMBLY

Article 159. Composition, procedure and voting

1. The Assembly shall consist of all the members of the

Authority. Each member shall have one representative in

the Assembly, who may be accompanied by alternates

and advisers.

2. The Assembly shall meet in regular annual sessions and

in such special sessions as may be decided by the

Assembly, or convened by the Secretary-General at the

request of the Council or of a majority of the members of

the Authority.

3. Sessions shall take place at the seat of the Authority

unless otherwise decided by the Assembly.

4. The Assembly shall adopt its rules of procedure. At the

beginning

of

each

regular session, it shall elect its

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