Template:UKA Annex (d)(vi): Difference between revisions

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{{euaprov|(d)(vi)}} '''{{euaprov|Requirements under the Scheme}}'''<br>
{{ukaprov|(d)(vi)}} '''{{ukaprov|Requirements under the Scheme}}'''<br>
 
Each party agrees with the other that, so long as either party has or may have any obligation under a {{ukaprov|UK Emissions Allowance Transaction}}, it shall:
Each party agrees with the other that, so long as either party has or may have any obligation under an {{euaprov|EU Emissions Allowance Transaction}}, it shall:
:(1) ensure that on a {{ukaprov|Delivery Date}} or {{ukaprov|Delayed Delivery Date}} ([[as the case may be]]) it has one or more {{ukaprov|UK ETS Account}}s (which must include, in the case of the {{ukaprov|Receiving Party}}, its {{ukaprov|Specified UK ETS Account}}) validly registered in accordance with {{ukaprov|Applicable Rules}}; and
:(1) ensure that on a {{euaprov|Delivery Date}} or {{euaprov|Delayed Delivery Date}} ([[as the case may be]]) it has one or more {{euaprov|Holding Account}}s validly registered in accordance with the {{euaprov|Registries Regulation}} and where it has one or more {{euaprov|Specified Holding Account}}s, ensure that on a {{euaprov|Delivery Date}} or {{euaprov|Delayed Delivery Date}} ([[as the case may be]]) it has all such {{euaprov|Specified Holding Account}}s validly registered in accordance with the {{euaprov|Registries Regulation}} ;
:(2) conduct its affairs so as not to give any {{ukaprov|Relevant Authority}} cause to block, suspend, refuse, reject or cancel the transfer (whether in whole or in part) of {{ukaprov|Allowances}} requested to be made pursuant to any {{ukaprov|UK Emissions Allowance Transaction}}. <br>
:(2) where it is {{euaprov|Delivering Party}}, ensure that each {{euaprov|Specified Holding Account}} of {{euaprov|Receiving Party}} is nominated as a “trusted account” in its “trusted account list” for each of its {{euaprov|Specified Holding Account}}s (or other {{euaprov|Holding Account}}s, as applicable) for the purposes of the {{euaprov|Registries Regulation}}; and
:(3) conduct its affairs so as not to give any {{euaprov|Relevant Authority}} cause to block, suspend, refuse, reject or cancel the transfer (whether in whole or in part) of Allowances requested to be made pursuant to any {{euaprov|EU Emissions Allowance Transaction}}. <br>

Revision as of 15:59, 31 January 2023

(d)(vi) Requirements under the Scheme
Each party agrees with the other that, so long as either party has or may have any obligation under a UK Emissions Allowance Transaction, it shall:

(1) ensure that on a Delivery Date or Delayed Delivery Date (as the case may be) it has one or more UK ETS Accounts (which must include, in the case of the Receiving Party, its Specified UK ETS Account) validly registered in accordance with Applicable Rules; and
(2) conduct its affairs so as not to give any Relevant Authority cause to block, suspend, refuse, reject or cancel the transfer (whether in whole or in part) of Allowances requested to be made pursuant to any UK Emissions Allowance Transaction.
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