Terms and conditions of agreement

(1) The Minister may, in any agreement made under the provisions of section 5, grant to a prospector a licence to prospect for, work, salve and bring to shore any abandoned wreck within any defined area of the sea bed within the limits of Belize for such period as may be specified in such agreement. (2) Every such agreement– (a) shall specify what proportion of any abandoned wreck brought to shore shall be returned (subject to the terms thereof) to the (b) may provide that at the option of the Minister, the Government of Belize shall retain all or any articles recovered upon payment to the 7 prospector of the due percentage of the appraised value thereof; and (c) may specify what proportion (if any) of the agreed costs of salvage shall be payable by the prospector and by the Government of Belize respectively. (3) It shall be a term of every such agreement that the prospector shall waive any right of salvage whatsoever which might otherwise arise in his favour in consequence of his bringing to shore any abandoned wreck found within the area specified in such agreement. (4) It shall be a term of every such agreement that the prospector shall employ such methods and submit to such measures of inspection and supervision and shall employ such equipment in and about the salvage of any abandoned wreck as may be required by the Minister after consultation with the (5) Every such agreement shall contain provisions for– (a) the revocation of the licence granted thereby; (b) the preservation of the abandoned wreck; (c) the arbitration in Belize of all questions and differences arising between the Minister and the prospector; (d) the interpretation of such agreement according to the laws of Belize; and (e) all such other matters as appear to the Minister to be required in the public interest. (6) It shall be a term of every such agreement that a duly qualified and experienced public officer designated by the 8 Minister shall be present at all stages of the salvage of any