The Spanish Government renounces, as far as regards the British Government, all claims of sovereignty over the territories of the continent of Borneo, which belong, or which have belonged in the past to the Sultan of Sulu (Jolo), and which comprise the neighbouring islands of Balambangan, Banguey, and Malawali, as well as all those comprised within a zone of three maritime leagues from the coast, and which form part of the territories administered by the Company styled the “British North Borneo Company”. — Article III, Madrid Protocol of 1885 Another important point regarding the agreement relates to Article IV which guarantees of no restriction on trade to the parties of the protocol within the Archipelago and North Borneo.
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