(1)In this Act—
“exploration licence” means a licence authorising the licensee to explore for the hard mineral resources of such part of the deep sea bed as may be specified in the licence; and
“exploitation licence” means a licence authorising the licensee to exploit the hard mineral resources of such part of the deep sea bed as may be specified in the licence.
(2)Subject to subsection (4) and section 3 below, the Secretary of State may on payment of such fee as may with the consent of the Treasury be prescribed grant to such persons as he thinks fit exploration or exploitation licences; and in determining whether to grant a licence in any case he shall have regard to any relevant factors including in particular the desirability of keeping an area or areas of the deep sea bed free from deep sea bed mining operations so as to provide an area or areas for comparison with licensed areas in assessing the effects of such operations.
(3)An exploration or an exploitation licence shall be granted for such period as the Secretary of State thinks fit and shall contain such terms and conditions as he thinks fit and, in particular but without prejudice to the generality of the foregoing, a licence may include terms and conditions—
(a)relating to the safety, health or welfare of persons employed in the licensed operations or in the ancillary operations;
(b)relating to the processing or other treatment of any hard mineral resources won in pursuance of the licence which is carried out by or on behalf of the licensee on any ship;
(c)relating to the disposal of any waste material resulting from such processing or other treatment;
(d)requiring plans, returns, accounts or other records with respect to any matter connected with any licensed area or licensed operations or ancillary operations to be furnished to the Secretary of State;
(e)requiring samples of any hard mineral resources discovered or won in any licensed area, or assays of such samples, to be furnished to the Secretary of State;
(f)requiring any exploration or exploitation of the hard mineral resources of the licensed area to be diligently carried out;
(g)requiring the payment to the Secretary of State of such sums as may with the consent of the Treasury be prescribed at such times as may be prescribed; and
(h)permitting the transfer of the licence in prescribed cases or with the written consent of the Secretary of State.
(4)An exploration licence shall not be granted in respect of any period before 1st July 1981 and an exploitation licence shall not be granted in respect of any period before 1st January 1988.
(5)Where the Secretary of State has granted an exploration licence he shall not grant an exploitation licence in respect of any part of the licensed area otherwise than to the licensee except with the licensee’s written consent.
(6)Any fees or other sums received by the Secretary of State under this section shall be paid into the Consolidated Fund.