On 17 March 2009, the International Tribunal for the Law of the Sea adopted an amendment to the rules relating to the prompt release of vessels. The new rules change the way in which financial security may be posted to comply with the relevant provisions of the Law of the Sea Convention. Articles 73 and 226 of the Law of the Sea Convention require a state which has detained a vessel for fishing or pollution offences to promptly release the vessel on the posting of reasonable bond or other financial security. The Tribunal has jurisdiction under Article 292 of the…