PART 7Appointment Requirements for the Auctioneer and the Auction Platform

Appointment requirements applicable to the auctioneer24

1

When appointing auctioneers, the Treasury must take into account the extent to which candidates—

a

exhibit the least risk of conflict of interest or market abuse having regard to the following—

i

any activities on the secondary market;

ii

any internal processes and procedures to mitigate the risk of conflict of interest or market abuse;

b

are able to fulfil the auctioneer’s functions, in a timely manner, in accordance with the highest professional and quality standards.

2

The auctioneer’s appointment is subject to the conclusion of the arrangements referred to in regulation 20(3) between the auctioneer and the appointed auction platform.