The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021
PART 1General Provisions
1Citation and commencement
2Interpretation
3Meaning of UK ETS authority
PART 2Auction Design
4Auctioned products
5Submission and withdrawal of bids
6Auction clearing price and resolution of tied bids
7Auction clearing price
PART 3Auction Calendar
8Calendar for individual auctions
9Annual volumes of allowances
10Adjustments of the auction calendar
11Circumstances preventing the conduct of auctions
12Cost containment mechanism
PART 4Access to Auctions
13Persons who may submit bids directly in an auction
14Means of access
15Training and helpline
16Persons eligible to apply for admission to bid
17Requirements for admission to bid
18Submission and processing of applications for admission to bid
19Refusal, revocation or suspension of admission
PART 5Appointment of the Auctioneer and its Functions
20Appointment of the auctioneer
21The auctioneer’s functions
PART 6Appointment and Functions of Auction Platform
22Appointment of the auction platform
23Functions of the auction platform
PART 7Appointment Requirements for the Auctioneer and the Auction Platform
24Appointment requirements applicable to the auctioneer
25Appointment requirements applicable to any auction platform
PART 8Reporting on Transactions
26Obligation to report transactions
PART 9Payment and Transfer of the Auction Proceeds
27Payment by successful bidders and transfer of proceeds
28Consequences of late or non-payment
PART 10Delivery of the Auctioned Allowances
29Transfer of the auctioned allowances
30Delivering the auctioned allowances
31Late delivery of the auctioned allowances
PART 11Management of Collateral
32Collateral given by the bidder
33Collateral given by the auctioneer
PART 12Fees and Costs
34Structure and level of fees
35Costs of the auction process
PART 13Auction Surveillance, Remedial Measures and Sanctions
36Monitoring of auctions
37Monitoring the relationship with bidders
38Notification of money laundering, terrorist financing or other criminal activity
39Notification of market abuse
40Maximum bid-size and other remedial measures
41Market conduct rules or any other contractual arrangements
42Conduct rules for other persons authorised to bid on behalf of others
PART 14Transparency and Confidentiality
43Publication
44Announcement and notification of the auction results
45Protection of confidential information
46Language regime
PART 15Final Provisions
47Right of appeal
48Correction of errors
SCHEDULEList of the elements referred to in regulation 18(5)
1Proof of eligibility pursuant to regulation 16(1) or (2).
2The applicant’s name, address, telephone and electronic mail address.
3The account identifier of the applicant’s nominated holding account.
4Full details of the applicant’s nominated bank account.
5The name, address, telephone and the electronic mail address of...
6For legal persons, proof of: (a) their incorporation stating—
7For legal persons or unincorporated associations or other legal arrangements,...
8For natural persons, proof of their identity, by means of...
9For operators, their permit (within the meaning of article 4...
10For aircraft operators, the emissions monitoring plan issued under article...
11Such information as is required to carry out the customer...
12The applicant’s latest audited annual report and accounts including the...
13The VAT registration number, if any, and, where the applicant...
14A statement that, to the best of the applicant’s knowledge,...
15Proof of compliance with the requirements of regulation 17(2)(g).
16Proof that the applicant satisfies the requirements of regulation 17(3)....
17A statement that the applicant has the necessary legal capacity...
18A statement that to the best of the applicant’s knowledge...

2021 No. 484

Climate Change

The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021

Made

Coming into force

The Treasury, in exercise of the powers conferred by section 96 of the Finance Act 20201, make the following Regulations.

In accordance with section 96(6) of that Act, a draft of this instrument has been laid before and approved by the House of Commons.