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Consider the following statements with reference to the International Seabed Authority:
1. It is an autonomous organization established under the United Nations Convention on the Law of the Sea.
2. The Authority forms contracts with public corporations only.
Which of the statements given above are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements with reference to the International ...
Statement 1 is correct: The International Seabed Authority (ISA) is an autonomous international organization of 168 member states and the European Union established under the 1982 UN Convention on the Law of the Sea (UNCLOS) and the 1994 Agreement on Implementation of Part XI of the UNCLOS. The ISA's dual mission is to authorize and control the development of mineral-related operations in the international seabed, considered the "common heritage of all mankind", and also to protect the ecosystem of the seabed, ocean floor, and subsoil in "The Area" beyond national jurisdiction.
Statement 2 is incorrect: The articles governing the Authority have been made "noting the political and economic changes, including market-oriented approaches, affecting the implementation" of the convention. The Authority operates by contracting with private and public corporations and other entities authorizing them to explore and potentially exploit specified areas on the deep seabed for mineral resources, such as cobalt, nickel, manganese etc.
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Consider the following statements with reference to the International Seabed Authority:1. It is an autonomous organization established under the United Nations Convention on the Law of the Sea.2. The Authority forms contracts with public corporations only.Which of the statements given above are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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