THE TRIBUNAL,

composed as above,

after deliberation,

Having regard to article 287, paragraph 5, and article 290 of the United Nations Convention on the Law of the Sea (hereinafter "the Convention" or “the Convention on the Law of the Sea”) and articles 21 and 25 of the Statute of the Tribunal (hereinafter "the Statute"),

Having regard to articles 89 and 90 of the Rules of the Tribunal (hereinafter "the Rules"),

Having regard to the facts that Australia became a State Party to the Convention on 16 November 1994, that Japan became a State Party to the Convention on 20 July 1996 and that New Zealand became a State Party to the Convention on 18 August 1996,

Having regard to the fact that Australia, Japan and New Zealand have not chosen a means for the settlement of disputes in accordance with article 287 of the Convention and are therefore deemed to have accepted arbitration in accordance with Annex VII to the Convention,

Having regard to the Notification submitted by New Zealand to Japan on 15 July 1999 instituting arbitral proceedings as provided for in Annex VII to the Convention in a dispute concerning southern bluefin tuna,

Having regard to the Notification submitted by Australia to Japan on 15 July 1999 instituting arbitral proceedings as provided for in Annex VII to the Convention in a dispute concerning southern bluefin tuna,