Original Affected Party - EFET Allowance Provision
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2007 EFET General Agreement Version 2.1(a) (Power) A Jolly Contrarian owner’s manual™
Original Affected Party in all its glory
Comparison See our natty emissions comparison table between the IETA, EFET and ISDA versions of emissions trading docs
Resources and Navigation
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Overview
“Original Affected Party” is part of the Unauthorised Transfers regime, which is more or less the same in all three of the emissions trading documentation suites.
Summary
The emissions trading world is still haunted by the widescale fraud that beset it in 2010. For more on the history, see the article on emissions allowance theft.
Its reaction was to tighten up the registry system to stop miscreants nicking Allowances, and tighten up the terms in the documentation to make it harder to pass stolen Allowances, and to be more specific about the consequences of doing so. This is part of that effort. The Original Affected Party is the “OV”, so to speak: the original victim of a theft.
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- The JC’s famous Nutshell™ summary of this clause
- More detail on the background to this concept and what happens to intervening bona fide purchasers for value without notice of the fraud.
See also
- Unauthorised Transfers
- Original Affected Party - ISDA
- Original Affected Party - EFET
- Original Affected Party - IETA