PART II SPECIFIED ACTIVITIES

F1Chapter 5ABidding in Emissions Auctions

Annotations:
Amendments (Textual)

The activity

Bidding in emissions auctions24A

1

The reception, transmission or submission of a bid at an auction of an investment of the kind specified by article 82A conducted—

a

on a recognised auction platform F2in accordance with the UK auctioning regulations, or

b

on F3an auction platform which has been appointed under the emission allowance auctioning regulation F4in accordance with that regulation,

is a specified kind of activity.

2

An activity which falls within paragraph (1) (or would do so but for the exclusions in article 24B) does not form part of any other activity specified under any other article of this Order.

3

In this article, “recognised auction platform” has the meaning given in regulation 1(3) of the Recognised Auction Platform Regulations 2011.

Exclusions

Miscellaneous exclusions24B

1

There is excluded from article 24A any activity carried on by—

a

an operator or an aircraft operator having an operator holding account, in either case bidding on its own account, including any parent undertaking, subsidiary undertaking or F5affiliated undertaking forming part of the same group of undertakings as the operator or the aircraft operator;

b

business groupings of persons listed in sub-paragraph (a) bidding on their own account or acting as an agent on behalf of their members; or

c

public bodies or state-owned entities of the Member States F6or of the United Kingdom that control any of the persons listed in sub-paragraph (a).

F72

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3

In this article, the expressions “parent undertaking”, “subsidiary undertaking”, F8"affiliated undertaking", “business grouping”, “public bodies” and “state-owned entities” have the same meaning as in the F9UK auctioning regulations.