Original Affected Party - IETA Provision

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IETA Emissions Trading Master Agreement

A Jolly Contrarian owner’s manual™

Original Affected Party in a Nutshell

The JC’s Nutshell summary of this term has moved uptown to the subscription-only ninja tier. For the cost of ½ a weekly 🍺 you can get it here. Sign up at Substack.

Original Affected Party in all its glory

Original Affected Party” means the person from whose Holding Account the Unauthorised Transfer of the relevant Affected Allowance occurred.


See our natty emissions comparison table between the IETA, EFET and ISDA versions of emissions trading docs

Resources and Navigation

Emissions trading documentation

ISDA: EU AnatomyEU Wikitext EU Nutshell (premium) • UK AnatomyUK Wikitext (to be merged into EU Anatomy)
IETA: IETA Master AgreementIETA WikitextIETA Nutshell (premium)
EFET: EFET Allowances AppendixEFET Allowances WikitextEFET Nutshell (premium)

Index: Click to expand:

Pro tip: for tons of information about EU ETS and EU financial services regulation see Michał Głowacki’s magnificent emissions-euets.com website.



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.



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.

Premium content

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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