The Financial Services and Markets Act 2000 (Regulated Activities) Order 20013
1
The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 is amended as follows.
2
In article 3(1)7—
a
in the appropriate places, insert—
“trading scheme order” means the Greenhouse Gas Emissions Trading Scheme Order 20208;
“UK auctioning regulations” means the Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021;
b
for the definition of “aircraft operator”, substitute—
“aircraft operator” has the meaning given in article 6 of the trading scheme order;
c
in the definition of “auction platform”, at the end insert “or the UK auctioning regulations”;
d
in the definition of “greenhouse gas emissions allowances”, after “directive” insert “or in article 4(1) of the trading scheme order”;
e
in the definition of “operator”, for “emission allowance trading directive” substitute “trading scheme order”;
f
in the definition of “reception”, “transmission” and “submission”, after “emission allowance auctioning regulation” insert “or the UK auctioning regulations”.
3
In article 24A9, in paragraph (1)—
a
in sub-paragraph (a), after “platform” insert “in accordance with the UK auctioning regulations”;
b
in sub-paragraph (b)—
i
for “any other” substitute “an”,
ii
at the end insert “in accordance with that regulation”.
4
In article 24B—
a
in paragraph (1)—
i
in sub-paragraph (a), for “affiliate undertaking” substitute “affiliated undertaking”;
ii
in sub-paragraph (c), after “Member States” insert “or of the United Kingdom”;
b
omit paragraph (2);
c
in paragraph (3)—
i
for “affiliate undertaking” substitute “affiliated undertaking”;
ii
for “emission allowance auctioning regulation” substitute “UK auctioning regulations”.
5
In article 82A, after “auctioning regulation” insert “or regulation 2(1) of the UK auctioning regulations”.
6
In article 82B, for paragraph (1), substitute—
1
Subject to paragraph (2)—
a
emission allowances consisting of any units recognised for compliance (by an EEA State) with the requirements of the emission allowance trading directive; and
b
allowances created under article 18 of the trading scheme order and transferable in accordance with that order.
7
In Part 1 of Schedule 2, in paragraph 11, at the end, insert “or allowances created under article 18 of the trading scheme order”.