Textual Amendments
F1Sch. 5A inserted (31.12.2020) by The Greenhouse Gas Emissions Trading Scheme (Amendment) Order 2020 (S.I. 2020/1557), arts. 2(1), 37
5.—(1) The UK ETS authority must establish an electronic system (the “registry”) for the purposes of the UK ETS, in particular, to keep track of—
(a)operators of installations and aircraft operators participating in the UK ETS;
(b)allowances held by persons and the allocation and transfer of allowances;
(c)reportable emissions of installations and aviation emissions of aircraft operators;
(d)the surrender of allowances by operators and aircraft operators in accordance with articles 27 and 34.
(2) The UK ETS authority must ensure that the registry is established so as to allow for—
(a)the following types of account in which allowances may be held—
(i)central accounts (see paragraph 9);
(ii)an auction delivery account (see paragraph 10);
(iii)operator holding accounts for installations (see paragraph 11);
(iv)aircraft operator holding accounts (see paragraph 13);
(v)trading accounts (see paragraph 14);
(b)individuals to be appointed as authorised representatives for accounts with access to the registry to perform actions in relation to accounts on behalf of account holders.
6.—(1) The registry administrator must operate the registry and for that purpose may, in particular—
(a)establish administrative arrangements and rules for the operation of the registry;
(b)take such actions the registry administrator considers necessary to ensure the proper functioning and good administration of the registry;
(c)perform actions in relation to accounts in accordance with instructions from account holders.
(2) In the operation of the registry, the registry administrator must, as soon as reasonably practicable and to the extent possible, comply with a notice or instruction given under this Order by the UK ETS authority or a regulator.
7.—(1) The UK ETS authority or the registry administrator may suspend access to the registry if the UK ETS authority or the registry administrator considers that—
(a)a security breach has occurred; or
(b)there is a significant risk that a security breach will occur.
(2) Where access to the registry is suspended, the UK ETS authority or, as the case may be, the registry administrator must, as soon as reasonably practicable after the suspension takes effect, inform—
(a)each regulator;
(b)if the UK ETS authority suspends access to the registry, the registry administrator;
(c)if the registry administrator suspends access to the registry, the UK ETS authority.
(3) The UK ETS authority must, as soon as reasonably practicable and in any event within 2 working days beginning with the day (the “relevant day”) on which the UK ETS authority suspends access to the registry or is informed of a suspension under sub-paragraph (2)(c) or, if the relevant day is not a working day, within 2 working days beginning with the first working day after the relevant day consider whether the suspension should remain in place and—
(a)if the UK ETS authority considers the suspension should remain in place, inform each regulator and the registry administrator that the suspension will remain in place; or
(b)if the UK ETS authority considers the suspension should be lifted—
(i)lift the suspension or instruct the registry administrator to lift the suspension;
(ii)inform each regulator and, where the UK ETS authority lifts the suspension, the registry administrator that the suspension has been lifted.
(4) Where the suspension remains in place in accordance with sub-paragraph (3)(a), the UK ETS authority must, as soon as reasonably practicable after the UK ETS authority considers that the circumstances giving rise to the suspension no longer exist—
(a)lift the suspension or instruct the registry administrator to lift the suspension;
(b)inform each regulator and, where the UK ETS authority lifts the suspension, the registry administrator that the suspension has been lifted.
8.—(1) The UK ETS authority may suspend access to the registry for technical reasons.
(2) Where the suspension is unscheduled (for example, because a technical issue needs to be addressed immediately), the UK ETS authority must inform each regulator and the registry administrator as soon as reasonably practicable after the suspension takes effect.
(3) Where the suspension is scheduled, the UK ETS authority must inform each regulator and the registry administrator as soon as reasonably practicable and in any event at least 2 working days before the suspension takes effect.
(4) Where, after a suspension, the UK ETS authority considers that the reason for the suspension no longer exists, the UK ETS authority must as soon as reasonably practicable—
(a)lift the suspension;
(b)inform each regulator and the registry administrator that the suspension has been lifted.]