34.—(1) The structure and level of fees as well as any related conditions applied by any auction platform and the clearing system and settlement system are to be no less favourable than comparable standard fees and conditions applied on the secondary market.
(2) The auction platform and the clearing system and settlement system may only apply fees, deductions or conditions explicitly set out in the contract appointing them.
(3) All fees and conditions applied pursuant to paragraphs (1) and (2) must be—
(a)clearly stated, easily understandable and publicly available, and
(b)itemised, indicating each charge made for each type of service.
Commencement Information
I1Reg. 34 in force at 22.4.2021, see reg. 1(2)
35.—(1) Without prejudice to paragraph (2), the costs of the services provided for in regulation 23(1) must be paid for through fees paid by the bidders.
(2) The costs referred to in paragraph (1) must be deducted from the auction proceeds payable to the auctioneers pursuant to regulation 27(2) and (3).
Commencement Information
I2Reg. 35 in force at 22.4.2021, see reg. 1(2)