[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: 15CFR971.416]

[Page 353]
 
                  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 D--Issuance/Transfer: Terms, Conditions and Restrictions
 
Sec. 971.416  Approval of permit transfers.

    (a) The Administrator may transfer a permit after a written request 
by the permittee. After a permittee submits a transfer request to the 
Administrator, the proposed transferee will be deemed an applicant for a 
commercial recovery permit, and will be subject to the requirements and 
procedures of this part.
    (b) The Administrator will transfer a permit if the proposed 
transferee is a United States citizen and proposed commercial recovery 
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 permittee, the Administrator may waive relevant 
determinations for requirements for which no changes have occurred since 
the preceding application.