The Proposed International Seabed Authority: A Unique Institution?

The attempt of the United Nations Law of the Sea Conference to devise "international machinery" to administer the new regime for deep seabed mining may well spawn models and precedents for other problems of international scope such as resource management or arms control. Not only will the composition and voting procedures point the way toward equitable representation in other international forums, but the scope of the institution itself will be unique. It will at the same time manage the development of an international resource, taking into account both conservation and price stabilization, take part in mining as an international business enterprise, and serve as a self-supporting, profit-making aid institution. It will also take part as an independent actor on the world scene, contracting with private companies, appearing before international courts, and assuming liability for damages caused by it.