The Invocation of the ‘Two-Year Rule’ at the International Seabed Authority: Legal Consequences and Implications

In June 2021, the Republic of Nauru invoked a treaty provision known as the ‘two-year rule’ at the International Seabed Authority (ISA). Effectively, this provision requires the Council of the ISA to complete the elaboration and adoption of the necessary regulations within two years if requested by a Member State whose national intends to apply for the approval of a plan of work for the exploitation of seabed minerals in the Area. If the Council is unable to complete the elaboration of the regulations within the prescribed time and an exploitation application is submitted, the Council would still have to ‘consider’ and ‘provisionally approve’ the same despite the absence of the exploitation regulations. This article undertakes a detailed analysis of the two-year rule, particularly underscoring its legal consequences and implications, as the ISA pushes forward in developing exploitation regulations in the light of its invocation.