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ing standard insurance practices and based upon the relative 
risks involved, the United States shall insure the licensee, in 
an amount not exceeding the value of the investment, and 
for a period not extending beyond twenty years after the 
initiation of commercial recovery pursuant to a license issued 
under this Act, for any damages suffered through the inmipair- 
ment of the insured investment, or through the removal of 
hard minerals from the licensed block, by any other person 
against whom a legal remedy either does not exist or is 
unavailable in any legal forum to which the licensee has 
access. The Secretary of Commerce shall determine the 
amount owing on any claim for reimbursement under this 
section. 
“NONDISCRIMINATORY TREATMENT 
“Sec. 15. All hard minerals recovered from the deep 
seabed under a license issued pursuant to this Act shall be 
deemed to have been recovered within the United States for 
purposes of the import and tax laws and regulations of the 
United States, and such laws and regulations shall be admin- 
istered so that there will be no discrimination between hard 
minerals recovered from the deep seabed and similar hard 
minerals recovered within the United States. 
“REGULATORY AUTHORITY 
“Src. 16. In order to carry out his responsibilities under 
this Act, the Secretary is authorized to issue such reasonable 
