[Code of Federal Regulations]

[Title 15, Volume 3]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 15CFR970.516]



[Page 331]

 

                  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