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e-CFR data is current as of January 15, 2021

Title 15Subtitle BChapter IXSubchapter DPart 971Subpart B → §971.201


Title 15: Commerce and Foreign Trade
PART 971—DEEP SEABED MINING REGULATIONS FOR COMMERCIAL RECOVERY PERMITS
Subpart B—Applications


§971.201   Statement of financial resources.

(a) General. The application must contain information sufficient to demonstrate to the Administrator pursuant to §971.301 that, upon issuance or transfer of the permit, the applicant will have access to the financial resources to carry out, in accordance with this part, the commercial recovery program set forth in the applicant's commercial recovery plan.

(b) Specific. In particular, the information on financial resources is expected to be general in nature but must include the likely sources and timing of funds to meet the applicant's scheduled expenditures in the recovery plan. These sources may include cash flow, reserves, and outside funding.

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