[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: 15CFR971.201]



[Page 344]

 

                  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.