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8 
arid one huidred twenty-five kilometers where the licensed 
-area consists of subsurface blocks; or (iv) which if licensed 
would result in the United States licensing more than 30 per 
centtim of such area. | 
(b) No license shall be issued or transferred under this 
Act, and no person subject to ‘the jurisdiction of the United 
States shall have any substantial mterest in any license issued 
by any State, which would result in any person directly or 
indirectly holding, controlling, or having any substantial 
interest in licenses for any portion of the deep seabed licensed 
by any State which that person could not hold directly under — 
this Act because of the limitations of items (i) and (ili). ’ 
MINIMUM ANNUAL EXPENDITURES - 
Src. 7. It shalli be a condition of each: license issued 
under this Act that the licensee make or cause to be made 
minimum ‘expenditures for development of each licensed 
block. in the followig amounts per block until commercial 
recovery from such block is: first achieved: 
Year - Amount per year 
DRE RE ON ord Se ee $100, 000 
20 Deion a eae Sik ee 200, 000 
has (ne ee ee ORG ce reer - 350, 000 
Lt pe eer oe Seon ae ee tee een ens ee 700, 000 
Expenditures for offsite operations, facilities, or equipment 
shall be thelded | m ‘computing nawnine minimum expendi- 
tures where such offsite expenditures are directly related 
to dev aitpiiout of the LicaTisets block or blocks. Expenditures 
ib 
