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ation of states would be eligible to register a claim but the registrant may 
choose anyone to do the work or transfer its claim to another state. 
All states rohia be free to engage, or authorize, preliminary investi- 
gations todecide whether to register a claim to explore. An exclusive right 
to evplore or exploit would be acquired by registry with an International 
Registry Authority. The membership of the Authority and manner of choosing 
its governing body would be specified in the ge eigen, embodying the new 
framework. ''The Authority should find its place in the family of the United 
Nations but should be as autonomous as the World Bank"! (p. 149). 
The Authority would be required to eBEUSe claims on a "first-come, 
first-registered"' basis, without discretion to deny it except on the ground 
that the explorer or exploiter is not able and willing to develop the claim. 
_ Upon proof of discovery the Authority would be required to register 
a claim to exploit for a large enough area and for a long enough time (fixed 
by the Authority) oo suaibyg economic operation and assure the producer time 
to recover his investment and an "'adequate return thereon." Failure to comply 
with work requirements would be ground for revocation. 
Upon expiration of the registration period, further exploration and 
exploitation of the subject resources or area should be subject to the regime 
as it then exists, without any re-registration prefe rence. 
To cover the AUeNoEiCg's administrative costs, it should be empowered 
to fix registration fees. 
x 
Royalties and like revenues would be paid into an autonomous fiscal 
