During the first cycle of 1994 (January 31 to February 4), consultations reviewed a revised version of the November 1993 „boat“ document. This revision took into account the discussions that took place during the Secretary-General`s informal consultations in November 1993. The work of the current consultation cycle has focused on a number of key issues: (iii) an interpretive agreement on the creation of a first authority and a first enterprise during an interim regime, accompanied by a procedural agreement for the convening of a conference setting the final commercial production regime for deep-sea minerals, where such production has been made possible; The results of the Secretary-General`s informal consultations in 1990 and 1991 were presented in the brief summary of the Secretary-General`s informal consultations on the law of the sea in 1990 and 1991 of 31 January 1992 and in a briefing note dated 26 May 1992. These results fell into two categories. First, a comprehensive agreement appears to have been reached on relatively detailed cost solutions for contracting states, enterprise, decision-making, review conference and technology transfer. Secondly, with regard to production limitation, the clearing fund and the financial terms of the contracts, it was generally agreed that it was neither necessary nor wise to formulate new detailed rules for these positions. As a result, the briefing note contains general principles to be applied when commercial production of deepwater ores is imminent. (a) decision-making, in particular the question of the relationship between the Authority and the Council, and the question of which group of States should be considered as a chamber within the Council for decision-making purposes in the Council; In the first part of this phase, nine issues were identified as problematic during the consultations: costs for contracting states; The company Decision-making The review conference; Technology transfer Limiting production; Compensation funds; The financial terms of the contract Environmental. After reviewing the different approaches that could be followed in addressing these issues, there was general consensus on an approach that allowed participants to review all outstanding issues in order to resolve them and decide how to deal with issues that might not be resolved.
On the basis of these revisions, the draft resolution and draft agreement on the application of Part XI of the United Nations Convention on the Law of the Sea were revised in their entirety and a revised text was published on 8 April 1994, the last day of the session. In 1992, the Secretary General, Mr.