International Seabed Minerals Act 2015 (No. 26 of 2015).

This Act provides rules for operations for the exploration or exploitation of seabed minerals within the Area under contract with the International Seabed Authority (ISA) under Nauru’s sponsorship under this Act and establishes the Nauru Seabed Minerals Authority. The objectives of this Act include: (a) to establish a legal framework for the sponsorship and for the effective control by Nauru of contractors to undertake Seabed Mineral Activities in the Area; (b) to provide that Seabed Mineral Activities under Nauru’s sponsorship in the Area must be carried out under Nauru’s effective control in accordance with best international practice, and in a manner that is consistent with internationally accepted rules, standards, principles and practices, including Nauru’s responsibilities under the UNCLOS and specifically Nauru’s duty to protect and preserve the Marine Environment. By the enactment of this Act, Nauru recognises the rules, regulations, procedures, codes and standards adopted by the ISA for, among other things, the protection and preservation of the natural resources of the Area and the prevention of damage to the flora and fauna of the Marine Environment.
The Nauru Seabed Minerals Authority shall be a body corporate and shall, among other things, on behalf of Nauru, be responsible for Nauru’s sponsorship of Seabed Minerals Activities. Any Sponsored Party is required, inter alia, to adhere to the provisions of the Rules of the ISA and this Act and to apply the Precautionary Principle, and employ best environmental practice in accordance with prevailing international standards in order to avoid, mitigate or remedy adverse effects of Seabed Mineral Activities on the Marine Environment.