Declaration made upon signature:
"The Government of the Grand Duchy of Luxembourg has decided to sign the United Nations Convention on the Law of the Sea because it represents, in the context of the law of the sea, a major contribution to the codification and progressive development of international law.
Nevertheless, in the view of the Government of Luxembourg, certain provisions of Part XI and Annexes III and IV of the Convention are marred by serious shortcomings and defects which, moreover, explain why it was not possible to reach a consensus on the text at the last session of the Third Conference on the Law of the Sea, held in New York in April 1982.
These shortcomings and defects concern, in particular, the mandatory transfer of technology and the cost and financing of the future Sea-Bed Authority and the first mine site of the Enterprise. They will have to be rectified by the rules, regulations and procedures to be drawn up by the Preparatory Commission. The Government of Luxembourg recognizes that the work remaining to be done is of great importance and hopes that it will be possible to reach agreement on the modalities for operating a sea-bed mining régime that will be generally acceptable and therefore conducive to promoting the activities of the international zone of the sea-bed.
As the representatives of France and the Netherlands pointed out two years ago, [the Government of Luxembourg] wishes to make it abundantly clear that, notwithstanding its decision to sign the Convention today, the Grand Duchy of Luxembourg is not here and now determined to ratify it.
It will take a separate decision on this point, at a later date, which will take account of what the reparation Commission has accomplished to make the international regime of the sea-bed acceptable to all.
[The Government of Luxembourg] also wishes to recall that Luxembourg is a member of the European Economic Community and, by virtue thereof, has transferred to the Community powers in certain are covered by the Convention. Detailed declarations on the nature and extent of the powers transferred will be made in due course, in accordance with the provisions of Annex IX of the Convention.
Like other members of the Community, the Grand Duchy of Luxembourg also reserves its position on all declarations made at the final session of the Third United Nations Conference on the Law of the Sea, at Montego Bay, that may contain elements of interpretation concerning the provisions of the United Nations Convention on the Law of the Sea."