[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: 15CFR971.415]



[Page 355-356]

 

                  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. 971.415  Duration of a permit.



    (a) Unless suspended or revoked pursuant to Sec. Sec. 971.406 and 

971.417, each commercial recovery permit will be issued for a period of 

20 years and for so long thereafter as hard mineral resources are 

recovered annually in commercial



[[Page 356]]



quantities from the area listed in the permit.

    (b) If the permittee has substantially complied with the permit and 

its associated recovery plan and requests an extension of the permit, 

the Administrator will extend the permit with appropriate TCRs, 

consistent with the Act, for so long thereafter as hard mineral 

resources are recovered annually in commercial quantities from the area 

to which the recovery plan associated with the permit applies. The 

Administrator may make allowance for deviation from the recovery plan 

for good cause, such as significantly changed market conditions. 

However, a request for extension must be accompanied by an amended 

recovery plan to govern the activities by the permittee during the 

extended period.

    (c) Successive extensions may be requested, and will be granted by 

the Administrator, based on the criteria specified in paragraphs (a) and 

(b).