[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: 15CFR971.418]



[Page 357]

 

                  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. 971.418  Diligence requirements.



    The TCRs in each commercial recovery permit must include provisions 

to assure diligent development consistent with Sec. 971.503, including 

a requirement that recovery at commercial scale be underway within ten 

years from the date of permit issuance unless that deadline is extended 

by the Administrator for good cause.