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The Recognised Auction Platforms Regulations 2011, Section 1 is up to date with all changes known to be in force on or before 16 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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1.—(1) These Regulations may be cited as the Recognised Auction Platforms Regulations 2011.
(2) These Regulations come into force—
(a)for the purpose of regulations 1 to 5, 7 to 9 and 11 to 24 of, and Schedules 2 and 3 to, the Regulations, on 12th December 2011;
(b)for the purpose of regulations 6 and 10 of, and Schedule 1 to, the Regulations, on 18th June 2012.
(3) In these Regulations—
“the Act” means the Financial Services and Markets Act 2000 M1;
“auction platform” means a platform on which auctions of emissions allowances are held in accordance with the [F1UK auctioning regulations];
“auction recognition requirements” mean the requirements set out in Part 5 of these Regulations together with any requirements contained in the [F2UK auctioning regulations];
[F3“the Authority” means the FCA;]
“bid” means an offer in an auction of emission allowances to acquire a given volume of allowances at a specified price;
“emission allowance” means an allowance to emit one tonne of carbon dioxide equivalent during a specified period,
F4which is valid for the purposes of meeting the requirements of the emission allowance trading directive, and which is transferable in accordance with the provisions of that directive [F5, or
created under article 18 of the trading scheme order and transferable in accordance with that order;]
“emission allowance trading directive” means Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a scheme for greenhouse gas emission allowances trading within the Community M2;
“emission allowance auctioning regulation” means Commission Regulation (EU) No 1031/2010 of 12 November 2010 on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances pursuant to the emission allowance trading directive M3;
“recognised investment exchange” means an investment exchange other than an overseas investment exchange in relation to which a recognition order has been made under section 290(1)(a);
“recognised auction platform” means a recognised investment exchange in relation to which a recognition order is in force;
“recognition order” means an order made under regulation 2;
[F6“trading scheme order” means the Greenhouse Gas Emissions Trading Scheme Order 2020;]
[F6“UK auctioning regulations” means the Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021].
(4) In these Regulations—
(a)unless the contrary intention appears, expressions which are also used in the Financial Services and Markets Act 2000 have the same meaning as in that Act;
(b)expressions which are also used in the [F7trading scheme order] or the [F8UK auctioning regulations] have the same meaning as in that directive [F9or regulations]; and
(c)reference to a numbered section, unless otherwise stated, is a reference to a section in the Act.
Textual Amendments
F1Words in reg. 1(3) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(a)(i)
F2Words in reg. 1(3) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(a)(ii)
F3Words in reg. 1(3) inserted (10.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 2) Order 2013 (S.I. 2013/642), arts. 1, 6(a)
F4Words in reg. 1(3) renumbered (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(a)(iii)(aa)
F5Words in reg. 1(3) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(a)(iii)(bb)
F6Words in reg. 1(3) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(a)(iv)
F7Words in reg. 1(4)(b) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(b)(i)
F8Words in reg. 1(4)(b) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(b)(ii)
F9Words in reg. 1(4)(b) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 6(2)(b)(iii)
Marginal Citations
M2OJ L 275 p 32, 25.10.2003.
M3OJ L 302 p 1, 18.11.2010.
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