Clause 10

licence conditions applicable to all licensees;

licence conditions applicable to a specified class of licensees; and

licence conditions applicable to a specified licensee.

require a licensee to comply with —

the applicable provisions of the Convention, the Agreement and the rules, regulations and procedures of the ISA; and

the decisions of the ISA and its organs;

where the licensee has entered into a corresponding ISA contract, require the licensee to comply with the terms and conditions of the ISA contract and any plan of work under the ISA contract;

require a licensee to report on its exploration or exploitation activities, at such intervals as may be specified;

require a licensee to inform the Minister of any matter relating to its exploration or exploitation activities;

require a licensee to provide security, in such form and of such amount as are acceptable to the Minister, for the due performance of its obligations under its licence and this Act; and

require a licensee to execute an indemnity, in such form as is acceptable to the Minister, to indemnify the Government against any liability incurred by the Government (whether or not under the Convention or the Agreement) in relation to the licensee’s exploration or exploitation activities.