Commission Regulation (EU) No 1031/2010Show full title

CHAPTER VII U.K. APPOINTMENT OF AN AUCTION PLATFORM BY MEMBER STATES PARTICIPATING IN A JOINT ACTION WITH THE COMMISSION AND ITS FUNCTIONS

Article 26 U.K. Appointment of an auction platform through joint action of the Member States with the Commission

[F1 1. Without prejudice to Article 30, Member States shall appoint an auction platform to auction allowances pursuant to Article 27 following a joint procurement procedure between the Commission and the Member States participating in the joint action pursuant to this Article.

2. Without prejudice to Article 30, Member States shall appoint an auction platform to auction allowances pursuant to Article 28 following a joint procurement procedure between the Commission and the Member States participating in the joint action pursuant to this Article.

An auction platform appointed pursuant to the first subparagraph of this paragraph shall auction allowances pursuant to Article 28 until the commencement of the auctions on an auction platform appointed pursuant to paragraph 1.]

3. The joint procurement procedure referred to in paragraphs 1 and 2 shall be conducted pursuant to the third subparagraph of Article 91(1) of Regulation (EC, Euratom) No 1605/2002 and Article 125c of Regulation (EC, Euratom) No 2342/2002.

4. Any period of appointment of the auction platforms referred to in paragraphs 1 and 2 shall be no longer than five years.

5. The identity and contact details of the auction platforms referred to in paragraphs 1 and 2 shall be published on the Commission’s website.

[F1 6. Any Member State that joins the joint actions as provided in paragraphs 1 and 2 after the entry into force of the joint procurement agreement entered into between the Commission and the Member States participating in that action shall accept the terms and conditions agreed by the Commission and the Member States joining the joint action prior to the entry into force of that agreement as well as any decisions already adopted under that agreement.

Any Member State that decides pursuant to Article 30(4) not to participate in the joint action as provided in paragraphs 1 and 2 but to appoint its own auction platform may be given observer status upon terms and conditions agreed in the joint procurement agreement between the Member States participating in the joint action as provided in paragraphs 1 and 2 and the Commission subject to any applicable public procurement rules.]

Textual Amendments

F1 Substituted by Commission Regulation (EU) No 1210/2011 of 23 November 2011 amending Regulation (EU) No 1031/2010 in particular to determine the volume of greenhouse gas emission allowances to be auctioned prior to 2013 (Text with EEA relevance).

Article 27 U.K. Functions of the auction platform appointed pursuant to Article 26(1)

1. The auction platform appointed pursuant to Article 26(1) shall provide the following services to the Member States as more particularly delineated in the contract appointing it:

(a) providing access to the auctions, pursuant to Articles 15 to 21, including the provision and maintenance of the necessary internet-based electronic interfaces and website;

(b) conducting the auctions in accordance with Articles 4 to 7;

(c) managing the auction calendar in accordance with Articles 8 to 14;

(d) announcing and notifying the results of an auction, pursuant to Article 61;

(e) providing, or ensuring [F2 through sub-contracting] the provision of, the requisite clearing system or settlement system needed for:

(i)

the handling of payments made by successful bidders or their successors in title and distribution of the proceeds of the auctions to the auctioneer, pursuant to Articles 44 and 45;

(ii)

delivering the auctioned allowances to successful bidders or their successors in title, pursuant to Articles 46, 47 and 48;

(iii)

managing collateral including any margining, provided by the auctioneer or bidders, pursuant to Articles 49 and 50;

(f) providing the auction monitor with any information relating to the conduct of the auctions, required for the carrying out of the auction monitor’s functions, pursuant to Article 53;

(g) [F1 surveying] the auctions, notifying suspicions of money laundering, terrorist financing, criminal activity or market abuse, administering any required remedial measures or sanctions including the provision of an extra-judicial dispute resolution mechanism, pursuant to [F1 Article 54] to 59 and Article 64(1).

2. At least 20 trading days prior to the opening of the first bidding window run by the auction platform appointed pursuant to Article 26(1), the auction platform shall be connected to at least one clearing system or settlement system.

Textual Amendments

F1 Substituted by Commission Regulation (EU) No 1210/2011 of 23 November 2011 amending Regulation (EU) No 1031/2010 in particular to determine the volume of greenhouse gas emission allowances to be auctioned prior to 2013 (Text with EEA relevance).

F2 Deleted by Commission Regulation (EU) No 1210/2011 of 23 November 2011 amending Regulation (EU) No 1031/2010 in particular to determine the volume of greenhouse gas emission allowances to be auctioned prior to 2013 (Text with EEA relevance).

Article 28 U.K. Functions of the auction platform appointed pursuant to Article 26(2)

1. An auction platform appointed pursuant to Article 26(2) shall provide the following services to the Member States:

(a) providing access to the auctions pursuant to the arrangements in place in the secondary market, organised by the auction platform, as modified in the contracts appointing it;

(b) conducting the auctions in accordance with Articles 4 to 7;

(c) managing the auction calendar in accordance with Articles 8 to 14;

(d) announcing and notifying the results of an auction, pursuant to Article 61;

(e) providing, pursuant to the arrangements in place in the secondary market organised by the auction platform, [F1 without prejudice to Articles 44 to 50], as modified in the contract appointing it, the clearing system or settlement system needed for the:

(i)

handling of payments made by bidders or their successors in title and the distribution of the proceeds of the auctions to the auctioneer;

(ii)

delivering auctioned allowances to successful bidders or their successors in title;

(iii)

managing collateral, including any margining, provided by the auctioneer or bidders;

(f) providing the auction monitor with any information relating to the conduct of the auctions, required for the carrying out of the auction monitor’s functions, pursuant to Article 53;

(g) surveying the auctions, notifying suspicions of money laundering, terrorist financing, criminal activity or market abuse, administering any required remedial measures or sanctions, including the provision of an extra-judicial dispute resolution mechanism, pursuant to the arrangements in place in the secondary market organised by the auction platform, as modified in the contract appointing it.

2. At least 20 trading days prior to the opening of the first bidding window run by an auction platform appointed pursuant to Article 26(2), the auction platform concerned shall be connected to at least one clearing system or settlement system.

[F1 3. Without prejudice to paragraphs 4 and 5, Article 16(2) and (3), Articles 17 and 19 to 21, Articles 36 to 43, Articles 54 to 56, Articles 60(3) and 63(4), and Article 64 shall not apply with respect to the auctions conducted by an auction platform appointed pursuant to Article 26(2) or 30(2).

4. Paragraph 3 shall not preclude Article 36(1) from being applicable with respect to the auctions of allowances in the form of two-day spot or five-day futures that are a financial instrument within the meaning of Article 1(3) of Directive 2003/6/EC conducted by an auction platform appointed pursuant to Article 26(2) or 30(2), where the Member State where the auction platform is established has implemented Article 36(1) of this Regulation or where such implementation is not necessary for the application of Article 36(1) of this Regulation.

5. Paragraph 3 shall not preclude Article 36(2) and Articles 37 to 43 from being applicable with respect to the auctions of allowances in the form of two-day spot or five-day futures that are not a financial instrument within the meaning of Article 1(3) of Directive 2003/6/EC conducted by an auction platform appointed pursuant to Article 26(2) or 30(2) where the Member State where the auction platform is established has implemented Article 43 of this Regulation or where such implementation is not necessary for the application of Article 43 of this Regulation.]

Textual Amendments

F1 Substituted by Commission Regulation (EU) No 1210/2011 of 23 November 2011 amending Regulation (EU) No 1031/2010 in particular to determine the volume of greenhouse gas emission allowances to be auctioned prior to 2013 (Text with EEA relevance).

Article 29 U.K. Services provided to the Commission by the auction platforms appointed pursuant to Article 26(1) or (2)

Auction platforms appointed pursuant to Article 26(1) or (2) shall provide the Commission with technical support services with respect to the Commission’s work relating to the following:

(a)

completion of Annex I and any coordination of the auction calendar for Annex III;

(b)

any opinions provided by the Commission under this Regulation;

(c)

any opinions or reports provided by the auction monitor regarding the functioning of the auctions platforms appointed pursuant to Article 26(1) or (2);

(d)

the reports or any proposal made by the Commission pursuant to Articles 10(5) and 12(1a) of Directive 2003/87/EC;

(e)

[F2 . . . . .]

(f)

any review of this Regulation, Directive 2003/87/EC or the Commission regulation adopted pursuant to Article 19(3) of that Directive which has an impact on the functioning of the carbon market including the implementation of the auctions;

(g)

any other joint action relating to the functioning of the carbon market including the implementation of the auctions agreed between the Commission and the Member States participating in the joint action.

Textual Amendments

F2 Deleted by Commission Regulation (EU) No 1210/2011 of 23 November 2011 amending Regulation (EU) No 1031/2010 in particular to determine the volume of greenhouse gas emission allowances to be auctioned prior to 2013 (Text with EEA relevance).