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Template:M summ EUA Annex (d)(vi): Difference between revisions
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[[Requirements under the Scheme - Emissions Annex Provision|Some]] of the more dismal drafting — outwardly innocuous, not having that “see if you can get through this tract without lashing out at nearby loved ones” vibe that characterises, say the [[regulatory initial margin]] credit support deed — but just lazy, fearful wordsmithing all the same, in a workaday provision, that should be uncontentious enough to invite unfussy, direct drafting. | [[Requirements under the Scheme - Emissions Annex Provision|Some]] of the more dismal drafting — outwardly innocuous, not having that “see if you can get through this tract without lashing out at nearby loved ones” vibe that characterises, say the [[regulatory initial margin]] credit support deed — but just lazy, fearful wordsmithing all the same, in a workaday provision, that should be uncontentious enough to invite unfussy, direct drafting. | ||
For one thing, a {{euaprov|Delayed Delivery Date}} is a sub-category of {{euaprov|Delivery Date}}, so when you have said the latter you necessarily include the former: there is no need for that “{{euaprov|Delivery Date}} or {{euaprov|Delayed Delivery Date}} ([[as the case may be]])” nonsense. Indeed, logically, one ''never'' needs to say, | For one thing, a {{euaprov|Delayed Delivery Date}} is a sub-category of {{euaprov|Delivery Date}}, so when you have said the latter you necessarily include the former: there is no need for that “{{euaprov|Delivery Date}} or {{euaprov|Delayed Delivery Date}} ([[as the case may be]])” nonsense. Indeed, logically, one ''never'' needs to say, “[[as the case may be]]”: if the case ''isn’t'', then it isn’t; if it ''is'' then it is. This puff of [[celery]] does nothing to advance matters. | ||
===What does this do?=== | ===What does this do?=== | ||
This simply asks parties to an Emissions Transaction to make sure they have the necessary | This simply asks parties to an Emissions Transaction to make sure they have the necessary {{euaprov|Holding Account}}s — a “{{euaprov|Specified Holding Account}}” is just the {{euaprov|Holding Account}} you have specified in your {{isdaprov|Confirmation}}, so thanks for that one, [[’squad|gang]] — set up in the {{euaprov|Union Registry}} and correctly configured so they can efficiently perform their settlement obligations. Have an account, add your counterparty’s account to your trusted list, and don’t behave like such a berk that you get thrown out of the system, or have transfers to and from your account frozen. | ||
===Knock on impacts=== | ===Knock on impacts=== | ||
Note a failure to deliver by a Delivering Party won’t count as a formal {{euaprov|Failure to Deliver}} if brought about because the {{euaprov|Receiving Party}} has forgotten to set up a {{euaprov|Holding Account}}, not added the {{euaprov|Delivering Party}}’s {{euaprov|Holding Account}} to its trusted account list, or generally behaved like such a berk that it gets thrown out of the system, or has its own account frozen. | Note a failure to deliver by a Delivering Party won’t count as a formal {{euaprov|Failure to Deliver}} if brought about because the {{euaprov|Receiving Party}} has forgotten to set up a {{euaprov|Holding Account}}, not added the {{euaprov|Delivering Party}}’s {{euaprov|Holding Account}} to its trusted account list, or generally behaved like such a berk that it gets thrown out of the system, or has its own account frozen. | ||