| Summary: | LL.D. For a long time, the Deep Sea-Bed's resources were deemed to be inexhaustible and safe from unilateral exploitation, until the 1940's experiments of the Howard Hughes Corporation which re modified a submarine into a technological vacuum cleaner, capable of scooping up polymetallic nodules from the sea-bed floor. Thus the possibility of an unregulated race by industrialized states, to ravage the mineral wealth on the ocean floor beyond national jurisdiction, became a reality. At law, vessels on the High Seas, were subject only to the jurisdiction of the flag state. It was here that Ambassador Pardo, in a note verbale dated 17th August 1967, proposed that the sea-bed be designated as belonging to the human race, identifying the following elements of the Common Heritage Concept; the territorial principle, which advocates non-appropriation, the economic element which provides that the use of resources, occurs in the interests or for the benefit of all.; the principle of security. which provides that the geographical area concerned must be used for peaceful purposes.; fourth an ecological principle when carrying out activities the environment must be protected, fifth a structural principle. providing for the establishment of an international agency exercising a legislative, administrative and controlling jurisdiction, and which will ensure the equitable distribution of financial and economic benefits. The ultimate step was UNCLOS III which resulted in the Law of the Sea Treaty of 1982. Since then, other spheres have been designated as The Common Heritage of Mankind, such as Outer space. And the continent of Antarctica seems to be heading in that direction. N/A
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