125. The Special Conmission rrhich is preparing the rules, regulations andprocedures for the exploration and exploitation of the deep sea-bed beganconsideration of lbe draft regulation on prospecting, exploration and exploitationof polyftetarric nodules in the rtr ea (ros/pcN/scN.3 /wp.6l . The conmission exaninedthe rules concerning prospecting and applications for approval of prans of nork.A/40/921 Engllsh Page 33 126, The Conmiselon diacussed in particular the guestion of notificatlon of prospecting and the submlssion of reports by prospectors to the Authority' the rlght to apply, the time of submission of approval- of plan6 of work, the aubmisslon of appllcations and the forn of applications. 127. The Cordtriss ion also consideretl tbe provislons relating to the content of the aPplicatlon sucb as those dealing nith financlal and technical capabilitles of, the applicant, undertakings by the applicant' previoua conLracte with the Authorlty' certiflcate of conpliance, applications for reserved areas, the total area cover ed by the application and data on estirnated commerciaL value. L28. The cornmission left ln abeyance its discueslona as to shether the apPltcation sbould be subfiltted in one Etage, i.e., containing t$to areas of equal conmercial value' together lrith a plan of work, or in lwo stages, which ulll first regulre the selectlon of a reaerved site for the Enterpriae of the Authority and tben the Subseguent submission of a plan of rrork in respec! of the site to be allocated to the applicant. spec ial Conmission 4 129. The Special Conmis8lon lrhich is deallng nlth the preparation of reconmendati.ons regardlng praclical arrangements for the establlsbment of the International Trlbunal on the Lan of lhe Sea continued its exanination of the tlraft rules of procedure for the Tribunal. The Coruulss ion has already considered a nullber of issues such as who may represent parties before the Tribunal, and the privilege€, ifinuniLies and facilities which should be accorded the representatives of partle6, agenta and counsel,s. At the ceneva neeting the corunisgion alealt in partlcular slth proceedings in cases brought before the Trlbunal. Thls lncluded
**Analysis**
The text discusses the preparation of rules and regulations for the exploration and exploitation of deep-sea resources, specifically polymeric nodules, and the establishment of an International Tribunal on the Law of the Sea. This suggests that the text is related to the management and governance of natural resources, particularly those in the ocean.

**Category**
Natural resources and environment, International trade