http://www.legislation.gov.uk/uksi/2021/484/regulation/17The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021texttext/xmlenCLIMATE CHANGEStatute Law Database2026-08-10Expert Participation2026-07-01 These Regulations make provision under the Finance Act 2020 for auctions of allowances to emit 1 tonne of carbon dioxide equivalent created under the Greenhouse Gas Emissions Trading Scheme Order 2020. PART 4 Access to AuctionsRequirements for admission to bid171Members or participants of the secondary market organised by the appointed auction platform that are eligible persons pursuant to regulation 16(1) or (2) must be admitted to bid directly in the auctions conducted by the auction platform without any further admission requirements, provided that both of the following conditions are fulfilled—athe requirements for admission of the member or participant to trade allowances through the secondary market organised by the appointed auction platform are no less stringent than those listed under paragraph (2);bthe appointed auction platform receives any additional information necessary to verify the fulfilment of any requirements referred to in paragraph (2) that have not been previously verified.2Persons, who are not members or participants of the secondary market organised by the appointed auction platform, and who are eligible persons pursuant to regulation 16(1) or (2) must be admitted to bid directly in the auctions conducted by that auction platform provided that they—a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .bhold a nominated holding account;chold a nominated bank account;dappoint at least one bidder's representative as defined in regulation 5(5);esubject to paragraph (3), satisfy the appointed auction platform pursuant to the customer due diligence measures required under the Money Laundering Regulations as to—itheir identity,iithe identity of their beneficial owners,iiitheir integrity, business and trading profile having regard to the means of establishing the relationship with the bidder,ivthe type of bidder,vthe nature of the auctioned product,vithe size of prospective bids, and the means of payment and delivery;fsatisfy the appointed auction platform of their financial standing, in particular, that they are able to meet their financial commitments and current liabilities as they fall due;ghave in place or are able to put in place when requested, the internal processes, procedures and contractual agreements necessary to give effect to a maximum bid-size imposed pursuant to regulation 40; andhfulfil the requirements of regulation 32(1).3Persons within regulation 16(1)(b), (ba), (c) or (ca) or regulation 16(2), who are submitting bids on behalf of their clients, are responsible for ensuring that all of the following conditions are fulfilled—atheir clients are eligible persons pursuant to regulation 16(1) or (2);bthey have or will have in good time before the opening of the bidding window adequate internal processes, procedures and contractual agreements necessary to—ienable them to process bids from their clients including the submission of bids, collection of payment and transfer of allowances;iiprevent the disclosure of confidential information from that part of their business responsible for receiving, preparing and submitting bids on behalf of their clients to that part of their business responsible for preparing and submitting bids on their own account;iiiensure that their clients who themselves are acting on behalf of clients bidding in the auctions apply the requirements set out in paragraph (2) and in this paragraph and that they require the same of their clients and of the clients of their clients as provided for in regulation 16(4).4The appointed auction platform may rely on reliable checks carried out by the persons referred to in the opening words of paragraph (3), their clients, or the clients of their clients as provided for in regulation 16(3) and (4).5Persons referred to in paragraph (3) are responsible for ensuring that they are able to demonstrate to the appointed auction platform whenever requested to do so by the auction platform pursuant to regulation 18(7)(d) that the conditions in sub-paragraphs (a) and (b) of paragraph (3) are fulfilled.Reg. 17 in force at 22.4.2021, see reg. 1(2)Reg. 17(2)(a) omitted (19.5.2021) by virtue of The Recognised Auction Platforms and Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021 (S.I. 2021/513), regs. 1(2), 11(2)(a)Words in reg. 17(2)(g) substituted (19.5.2021) by The Recognised Auction Platforms and Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021 (S.I. 2021/513), regs. 1(2), 11(2)(b)Words in reg. 17(3) substituted (19.5.2021) by The Recognised Auction Platforms and Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021 (S.I. 2021/513), regs. 1(2), 11(3)