HC Deb 14 January 1980 vol 976 cc625-6W
Mr. Hooley

asked the Lord Privy Seal what will be the United Kingdom contribution to the International Sea Bed Authority and to the enterprise, both in financial and non-financial terms, when the United Nations Law of the Sea Treaty is ratified.

Mr. Hurd

It is likely that a convention would require States parties to provide, in accordance with the United Nations scale of assessment:

  1. (i) the administrative expenses of the authority until it becomes self-supporting;
  2. (ii) a loan, whose proportion has yet to be agreed, of part of the costs of the first enterprise mining project;
  3. (iii) guarantees needed to cover loans raised by the Authority for the remaining costs of the first project.

There may also be arrangements for States parties to make contributions to the authority in non-financial terms, for example in connection with training people for the authority and its mining operator, the enterprise.