[Code of Federal Regulations]
[Title 15, Volume 3]
[Revised as of January 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 15CFR971.412]

[Page 355]
 
                  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. 971.412  Changes in permits and permit terms, conditions, and restrictions.

    (a) During the duration of a commercial recovery permit, changes in 
the permit or its associated commercial recovery plan may be initiated 
by either the permittee or the Administrator.
    (b) A significant change is one which, if approved, would result in:
    (1) An increase of more than five percent in the size of the 
commercial recovery area; or
    (2) A change in the location of five percent or more of the 
commercial recovery area.
    (c) A major change is one affecting one or more of:
    (1) The bases for certifying the original application pursuant to 
Sec. 971.301;
    (2) The bases for issuing or transferring the permit pursuant to 
Sec. 971.403 through Sec. 971.408;
    (3) The TCRs issued as part of the permit pursuant to Sec. Sec. 
971.418 through 971.430; or
    (4) The ownership of a permittee (or the membership of the joint 
venture, partnership or other entity on whose behalf the permit was 
issued); and which change is sufficiently broad in scope to raise a 
question as to:
    (i) The permittee's ability to meet the requirements of the sections 
cited in paragraphs (c)(1) and (2) of this section;
    (ii) The sufficiency of the TCRs to accomplish their intended 
purpose; or
    (iii) The antitrust characteristic of the permittee.
    (d) A minor change is one that is clearly more modest in scope than 
the changes described in paragraph (b) or (c) of this section.
    (e) A permittee may not implement a significant or major change, as 
defined in paragraphs (b) and (c) of this section, until an application 
for revision of the permit or its associated commercial recovery plan 
has been approved by the Administrator. However, advance notice of 
proposed major changes in a permittee's corporate membership or legal 
structure is not required, unless practicable, but the Administrator 
expects prompt notification of the occurrence of such a major change.
    (f) A proposed significant or major change, as defined in paragraphs 
(b) and (c) of this section, may trigger the need for additional review, 
under the Federal consistency provisions of the Coastal Zone Management 
Act of 1972, as amended.