Section 18
Contribution towards International Seabed Authority.
The Offshore Areas Mineral (Development and Regulation) Act, 2002
About this Act
An Act to provide for development and regulation of mineral resources in the territorial waters, continental shelf, exclusive economic zone and other maritime zones of India and to provide for matters connected therewith or incidental thereto.
1[Every lessee shall, in addition to
other payments required under this Act, pay to the Central Government in advance, the amount to be paid
to the International Seabed Authority in respect of the offshore area granted under his production lease
falling in such part of the continental shelf extending beyond two hundred nautical miles, from the
baseline from which the breadth of the territorial sea is measured, towards fulfilment of the obligation of
the Government of India under Article 82 of the United Nations Convention on the Law of the Sea, 1982.]
Notes
1. Subs. by Act 17 of 2023, s. 16, for section 18 (w.e.f. 17-8-2023).