[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: 15CFR971.201]

[Page 341]
 
                  TITLE 15--COMMERCE AND FOREIGN TRADE
 
CHAPTER IX--NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION, DEPARTMENT 
                               OF COMMERCE
 
PART 971--DEEP SEABED MINING REGULATIONS FOR COMMERCIAL RECOVERY PERMITS--Table of Contents
 
                         Subpart B--Applications
 
Sec. 971.201  Statement of financial resources.

    (a) General. The application must contain information sufficient to 
demonstrate to the Administrator pursuant to Sec. 971.301 that, upon 
issuance or transfer of the permit, the applicant will have access to 
the financial resources to carry out, in accordance with this part, the 
commercial recovery program set forth in the applicant's commercial 
recovery plan.
    (b) Specific. In particular, the information on financial resources 
is expected to be general in nature but must include the likely sources 
and timing of funds to meet the applicant's scheduled expenditures in 
the recovery plan. These sources may include cash flow, reserves, and 
outside funding.