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The Recognised Auction Platforms Regulations 2011
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- UK Statutory Instruments
- 2011 No. 2699
- PART 1
- Regulation 1
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The Recognised Auction Platforms Regulations 2011, Section 1 is up to date with all changes known to be in force on or before 26 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Regulation 1:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
- Regulations revoked by S.I. 2019/710 reg. 25(b) (This amendment not applied to legislation.gov.uk. Reg. 25(b) omitted immediately before IP completion day by virtue of S.I. 2020/1385, regs. 1(4), 64(2))
Citation, commencement and interpretationU.K.
This section has no associated Explanatory Memorandum
1.—(1) These Regulations may be cited as the Recognised Auction Platforms Regulations 2011.
(2) These Regulations come into force—
(a)for the purpose of regulations 1 to 5, 7 to 9 and 11 to 24 of, and Schedules 2 and 3 to, the Regulations, on 12th December 2011;
(b)for the purpose of regulations 6 and 10 of, and Schedule 1 to, the Regulations, on 18th June 2012.
(3) In these Regulations—
“the Act” means the Financial Services and Markets Act 2000 M1;
“auction platform” means a platform on which auctions of emissions allowances are held in accordance with the [F1UK auctioning regulations];
“auction recognition requirements” mean the requirements set out in Part 5 of these Regulations together with any requirements contained in the [F2UK auctioning regulations];
[F3“the Authority” means the FCA;]
“bid” means an offer in an auction of emission allowances to acquire a given volume of allowances at a specified price;
“emission allowance” means an allowance to emit one tonne of carbon dioxide equivalent during a specified period,
(a)
F4which is valid for the purposes of meeting the requirements of the emission allowance trading directive, and which is transferable in accordance with the provisions of that directive [F5, or
(b)
created under article 18 of the trading scheme order and transferable in accordance with that order;]
“emission allowance trading directive” means Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a scheme for greenhouse gas emission allowances trading within the Community M2;
“emission allowance auctioning regulation” means Commission Regulation (EU) No 1031/2010 of 12 November 2010 on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances pursuant to the emission allowance trading directive M3;
“recognised investment exchange” means an investment exchange other than an overseas investment exchange in relation to which a recognition order has been made under section 290(1)(a);
“recognised auction platform” means a recognised investment exchange in relation to which a recognition order is in force;
“recognition order” means an order made under regulation 2;
[F6“trading scheme order” means the Greenhouse Gas Emissions Trading Scheme Order 2020;]
[F6“UK auctioning regulations” means the Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021].
(4) In these Regulations—
(a)unless the contrary intention appears, expressions which are also used in the Financial Services and Markets Act 2000 have the same meaning as in that Act;
(b)expressions which are also used in the [F7trading scheme order] or the [F8UK auctioning regulations] have the same meaning as in that directive [F9or regulations]; and
(c)reference to a numbered section, unless otherwise stated, is a reference to a section in the Act.
Textual Amendments
F1Words in reg. 1(3) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(a)(i)
F2Words in reg. 1(3) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(a)(ii)
F3Words in reg. 1(3) inserted (10.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 2) Order 2013 (S.I. 2013/642), arts. 1, 6(a)
F4Words in reg. 1(3) renumbered (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(a)(iii)(aa)
F5Words in reg. 1(3) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(a)(iii)(bb)
F6Words in reg. 1(3) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(a)(iv)
F7Words in reg. 1(4)(b) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(b)(i)
F8Words in reg. 1(4)(b) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(b)(ii)
F9Words in reg. 1(4)(b) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(b)(iii)
Marginal Citations
M2OJ L 275 p 32, 25.10.2003.
M3OJ L 302 p 1, 18.11.2010.
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