[Code of Federal Regulations]
[Title 15, Volume 3]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 15CFR970.516]

[Page 328]
 
                  TITLE 15--COMMERCE AND FOREIGN TRADE
 
CHAPTER IX--NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION, DEPARTMENT 
                               OF COMMERCE
 
PART 970--DEEP SEABED MINING REGULATIONS FOR EXPLORATION LICENSES--Table of Contents
 
     Subpart E--Issuance/Transfer/Terms, Conditions and Restrictions
 
Sec. 970.516  Approval of license transfers.

    (a) The Administrator may transfer a license after a written request 
by the licensee. After a licensee submits such a request to the 
Administrator, the proposed transferee will be deemed an applicant for 
an exploration license, and will be subject to the requirements and 
procedures of this part.
    (b) The Administrator will transfer a license if the proposed 
transferee and exploration activities meet the requirements of the Act 
and this part, and if the proposed transfer is in the public interest. 
The Administrator will presume that the transfer is in the public 
interest if it meets the requirements of the Act and this part. In case 
of mere change in the form or ownership of a licensee, the Administrator 
may waive relevant determinations for requirements for which no changes 
have occurred since the preceding application.

                   Terms, Conditions, and Restrictions