Offshore Areas Minerals (Development and Regulation) Act, 2002 : Contribution towards International

Offshore Areas Minerals (Development and Regulation) Act, 2002,2003

Act No : 17

Section : Contribution towards International Seabed Authority.

18. Contribution towards International Seabed Authority.-Every lessee, whose production operation extends beyond two hundred nautical miles from the baseline from which the breadth of the territorial sea is measured, shall pay in advance, in addition to ther payments required under this Act, to the Central Government, the amount to be paid to the International Seabed Authority towards fulfilment of obligation of the Central Government under Article 82 of the United Nations Convention on Law of the Sea, 982.