The Jolly Contrarian

Talk:EU Emissions Annex Wikitext: Difference between revisions

Page Discussion

Talk:EU Emissions Annex Wikitext (view source)

Revision as of 17:32, 31 January 2023

3,918 bytes removed ,  31 January 2023
m
Amwelladmin moved page Talk:Emissions Annex Wikitext to Talk:EU Emissions Annex Wikitext
No edit summary
 
(One intermediate revision by the same user not shown)
Line 40: Line 40:
:(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|Holding Account}}s for the purposes of the {{euaprov|Registries Regulation}}; and  
:(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|Holding Account}}s 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 under any {{euaprov|EU Emissions Allowance Transaction}}. <br>  
:(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 under any {{euaprov|EU Emissions Allowance Transaction}}. <br>  
{{euaprov|(d)(vii)}} '''{{euaprov|No Encumbrances}}'''<br>


for each delivery of {{euaprov|Allowances}}, {{euaprov|Delivering Party}} must deliver {{euaprov|Allowances}}, free and clear of all [[Lien|liens]], [[Security interest|security interests]], claims and [[Encumbrance|encumbrances]] or any interest in or to them by any person (the “'''{{euaprov|No Encumbrance Obligation}}'''”).
 
Where a party is in breach of the {{euaprov|No Encumbrance Obligation}}, the following shall apply:
:(1) This {{isdaprov|Agreement}} and all other {{euaprov|Transactions}} agreed by the parties under this {{isdaprov|Agreement}} shall continue unaffected.
:(2) [[Without prejudice]] to any defences available to {{euaprov|Delivering Party}}, following written notice of that breach from {{euaprov|Receiving Party}} to {{euaprov|Delivering Party}} (irrespective of how long after the relevant {{euaprov|Delivery Date}} such notice is provided) and subject to Part (d)(vii)(4) below, {{euaprov|Receiving Party}} shall:
::(A) determine the {{euaprov|Encumbrance Loss Amount}} arising from that breach either on the date such notice is deemed to be received or as soon as reasonably practicable thereafter; and
::(B) shall notify {{euaprov|Delivering Party}} of such {{euaprov|Encumbrance Loss Amount}} due, including detailed support for its calculation.
{{euaprov|Receiving Party}} is not required to enter into replacement transactions in order to determine the {{euaprov|Encumbrance Loss Amount}}.
:(3) By no later than the third (3rd) Business Day after the later of (i) receipt of a valid invoice in connection with such {{euaprov|Encumbrance Loss Amount}} and (ii) receipt of the above-mentioned notice including detailed support of {{euaprov|Receiving Party}}’s calculation of the {{euaprov|Encumbrance Loss Amount}}, {{euaprov|Delivering Party}} must pay the {{euaprov|Encumbrance Loss Amount}} to {{euaprov|Receiving Party}}, which amount shall bear interest at the {{euaprov|Default Rate}}. Upon payment of the {{euaprov|Encumbrance Loss Amount}} by {{euaprov|Delivering Party}}, the parties shall have no further obligations for that {{euaprov|EU Emissions Allowance Transaction}} and that breach. {{euaprov|Receiving Party}} acknowledges that its exclusive remedies for such breach are those set out in this Annex(d)(vii)(No Encumbrances).
:(4) Where a breach of the {{euaprov|No Encumbrances Obligation}} is caused by the transfer of an {{euaprov|Affected Allowance}}, {{euaprov|Delivering Party}} shall be liable for the {{euaprov|Encumbrance Loss Amount}} if, at the date it first acquired, received or purchased such {{euaprov|Affected Allowance}}, it was not acting [[in good faith]]; otherwise, {{euaprov|Delivering Party}} shall only be liable for the {{euaprov|Encumbrance Loss Amount}} (without prejudice to any other defences available to {{euaprov|Delivering Party}} [[including, but not limited to]], any defences of statutes of limitation or similar), if:
::(A) {{euaprov|Receiving Party}}, whether or not the holder of such {{euaprov|Affected Allowance}}, who is subject to a claim of the {{euaprov|Original Affected Party}}, has, in order to resist or avoid any {{euaprov|Encumbrance Loss Amount}} from arising, used its best endeavours to defend such a claim for that {{euaprov|Affected Allowance}} and was unsuccessful (other than for reasons of its own lack of good faith); or
::(B) {{euaprov|Receiving Party}}, whether or not the holder of such {{euaprov|Affected Allowance}}, who acted in good faith for its purchase of such {{euaprov|Affected Allowance}} and who is subject to a claim of a third party (other than the {{euaprov|Original Affected Party}}) for that {{euaprov|Affected Allowance}}, has used all reasonable endeavours to mitigate the {{euaprov|Encumbrance Loss Amount}}. <br>
{{euaprov|(d)(viii)}} '''{{euaprov|Value Added Taxes}}'''<br>
{{euaprov|(d)(viii)}} '''{{euaprov|Value Added Taxes}}'''<br>
:(1) All amounts referred to in this Annex or in a {{euaprov|Confirmation}} for an {{euaprov|EU Emissions Allowance Transaction}} are exclusive of any applicable {{euaprov|Value Added Taxes}} (“'''{{euaprov|VAT}}'''”) which are or may become chargeable for the supply or supplies for which such sums form the whole or part of the consideration for {{euaprov|VAT}} purposes, and any such {{euaprov|VAT}} shall be payable in addition to any such other consideration under the provisions set out below.
:(1) All amounts referred to in this Annex or in a {{euaprov|Confirmation}} for an {{euaprov|EU Emissions Allowance Transaction}} are exclusive of any applicable {{euaprov|Value Added Taxes}} (“'''{{euaprov|VAT}}'''”) which are or may become chargeable for the supply or supplies for which such sums form the whole or part of the consideration for {{euaprov|VAT}} purposes, and any such {{euaprov|VAT}} shall be payable in addition to any such other consideration under the provisions set out below.
Line 222: Line 211:
'''{{euaprov|Third Compliance Period}}''': Means the period referred to in Article 16 of the {{euaprov|Directive}} 2009/29/EC starting 1 January 2013 to 31 December 2020. <br>
'''{{euaprov|Third Compliance Period}}''': Means the period referred to in Article 16 of the {{euaprov|Directive}} 2009/29/EC starting 1 January 2013 to 31 December 2020. <br>
'''{{euaprov|Unauthorised Transfer}}''': Means the transfer by debiting of any {{euaprov|Allowance}} from an account holder’s {{euaprov|Holding Account}} and the crediting of a {{euaprov|Holding Account}} of another person, where such transfer is not initiated by the relevant authorised representative or additional authorised representative (as referred to in the {{euaprov|Registries Regulation}}) of the first account holder. <br>
'''{{euaprov|Unauthorised Transfer}}''': Means the transfer by debiting of any {{euaprov|Allowance}} from an account holder’s {{euaprov|Holding Account}} and the crediting of a {{euaprov|Holding Account}} of another person, where such transfer is not initiated by the relevant authorised representative or additional authorised representative (as referred to in the {{euaprov|Registries Regulation}}) of the first account holder. <br>
'''{{euaprov|Undelivered Allowances}}''' is defined in the definition of {{euaprov|Receiving Party’s Replacement Cost}} in this Annex {{euaprov|(e)}} (''{{euaprov|Defined Terms and Interpretation}}''). <br>
'''{{euaprov|Undelivered Allowances}}''' is defined in {{euaprov|Receiving Party’s Replacement Cost}}. <br>
'''{{euaprov|Union Registry}}''': Means the {{euaprov|Registry}} referred to as the “Community Registry” in Article 19(1) of the {{euaprov|Directive}}. <br>
'''{{euaprov|Union Registry}}''': Means the {{euaprov|Registry}} referred to as the “Community Registry” in Article 19(1) of the {{euaprov|Directive}}. <br>
'''{{euaprov|VAT}}'''is defined in {{euaprov|(d)(viii)}} (''{{euaprov|Value Added Taxes}}''). <br>
'''{{euaprov|VAT}}'''is defined in {{euaprov|(d)(viii)}} (''{{euaprov|Value Added Taxes}}''). <br>
Retrieved from "https://jollycontrarian.com/index.php?title=Special:MobileDiff/66412...71395"