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The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021
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- UK Statutory Instruments
- 2021 No. 484
- PART 3
- Regulation 10
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Adjustments of the auction calendarU.K.
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10.—(1) The determinations and publications of the annual volumes to be auctioned and of the bidding windows, volumes, dates, auctioned product, payment and delivery dates in connection with individual auctions pursuant to regulations 8 and 9 may not be modified except for adjustments due to any of the following—
(a)failure to sell all allowances at a preceding auction;
[F1(aa)the calculation of the annual volume of allowances in accordance with regulation 9;]
(b)[F2the cancellation, or a change to the date or time of the opening or close of the bidding window, of an auction] pursuant to regulation 11;
(c)any settlement failure referred to in regulation 28(5);
(d)allowances remaining in the new entrants reserve provided for in article 34G of the Trading Scheme Order [F3or in the flexible reserve provided for in article 23A of that Order];
(e)any measures authorised under regulation 12;
(f)any withholding of allowances where it is not possible to hold an auction pursuant to regulation 20(5);
(g)the necessity for an auction platform to avoid conducting an auction in breach of these Regulations or the Trading Scheme Order;
[F4(h)the addition of an activity to article 16(2) of the Trading Scheme Order.]
(2) Where the manner in which a modification is to be implemented is not provided for in these Regulations, the auction platform concerned may not implement that modification until it has consulted the FCA and auctioneer.
Textual Amendments
F1Reg. 10(1)(aa) inserted (19.5.2021) by The Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021 (S.I. 2021/561), regs. 1(2), 2(5)
F2Words in reg. 10(1)(b) substituted (25.8.2021) by The Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) (No. 2) Regulations 2021 (S.I. 2021/917), regs. 1(2), 5(2)
F3Words in reg. 10(1)(d) inserted (19.12.2024) by The Greenhouse Gas Emissions Trading Scheme (Amendment) (No. 2) Order 2024 (S.I. 2024/1366), arts. 2(1)(g), 40(2)
F4Reg. 10(1)(h) inserted (1.7.2026) by The Greenhouse Gas Emissions Trading Scheme (Amendment) (Extension to Maritime Activities) Order 2026 (S.I. 2026/392), art. 1(1), Sch. 3 para. 3(2)
Commencement Information
I1Reg. 10 in force at 22.4.2021, see reg. 1(2)
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