Commission Delegated Regulation (EU) 2023/2830 of 17 October 2023 supplementing Directive 2003/87/EC of the European Parliament and of the Council by laying down rules on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances

Article 23

The auctioneer’s tasks

The auctioneer shall carry out the following tasks:

(a) auctioning of the volume of allowances to be auctioned by each Member State appointing it or for any fund or facility which is to be a recipient of the auction proceeds pursuant to Union law;

(b) receipt of the auction proceeds due to each Member State appointing it or to any fund or facility referred to under point (a);

(c) disbursement of the auction proceeds due to each Member State appointing it or to any fund or facility referred to under point (a).

CHAPTER VI

AUCTIONING OF ALLOWANCES FOR FUNDS AND CANCELLATION OF ALLOWANCES

Article 24

Allowances to be auctioned for the Innovation Fund, the Modernisation Fund, the Recovery and Resilience Facility and the Social Climate Fund

Article 25

Procedure for cancellation of allowances

The Member State concerned shall notify to the Commission at the latest by 31 May of a given year the exact number of allowances to be cancelled in the period between 1 September and 31 December of that year. If the total volume of allowances to be cancelled in that period exceeds 5 million allowances, that volume shall be spread over the period between 1 September of that year and 31 August of the following year. The Member State concerned shall make its first notification under this subparagraph at the latest two years after the notification under subparagraph one.

CHAPTER VII

APPOINTMENT OF AND SERVICES PROVIDED BY THE COMMON AUCTION PLATFORM

Article 26

Appointment of a common auction platform

A Member State that decides pursuant to Article 29(4) not to participate in the joint action pursuant to this Article but to appoint its own auction platform may be given observer status under terms and conditions agreed in the joint procurement agreement between the Member States participating in the joint action and the Commission, subject to any applicable Union public procurement rules.

Article 27

Services provided to the Member States by the common auction platform

(a) providing access to the auctions, pursuant to Articles 15 to 21, including the provision and maintenance of the necessary web-based electronic interfaces and websites;

(b) conducting the auctions in accordance with Articles 4 to 7;

(c) managing the auction calendar in accordance with Articles 8 to 14;

(d) announcing and notifying the results of an auction, pursuant to Article 52;

(f) surveying the auctions, notifying suspicions of money laundering, terrorist financing, criminal activity or market abuse, administering any required remedial measures or sanctions including the provision of an extra-judicial dispute resolution mechanism pursuant to Articles 45 to 50 and Article 55(1);

(g) reporting pursuant to Article 34.

Article 28

Services provided to the Commission by the common auction platform

The common auction platform shall provide the Commission with technical support services with respect to the Commission’s work relating to the following:

(a) coordination of the auction calendar with opt-out auction platforms listed in Annex III;

(b) information relating to the conduct of the auctions pursuant to Article 44;

(c) reports pursuant to Article 10(4), third subparagraph, and Article 10(5) of Directive 2003/87/EC;

(d) review of this Regulation, Directive 2003/87/EC or the delegated acts adopted pursuant to Article 19(3) of that Directive which has an impact on the functioning of the carbon market, including the implementation of the auctions;

(e) any other joint action relating to the functioning of the carbon market, including the implementation of the auctions agreed between the Commission and the Member States participating in the joint action.

CHAPTER VIII

APPOINTMENT AND TASKS OF OPT-OUT AUCTION PLATFORMS

Article 29

Appointment of opt-out auction platforms

The period of appointment of an opt-out auction platform referred to in paragraph 1 shall be no longer than 3 years renewable for no more than a further period of 2 years.

The appointment of an opt-out auction platform shall not be effective before the entry into force of the listing of the opt-out auction platform concerned in Annex III, as provided for in paragraph 6.

(a) the identity of the auction platform it proposes to appoint;

(b) the detailed operative rules that are to govern the auction process to be conducted by the auction platform it proposes to appoint, including the contractual provisions concerning the appointment of the auction platform and any clearing system and settlement system connected to the proposed auction platform, stipulating the terms and conditions governing the structure and level of fees, collateral management, payment and delivery;

(c) the auctioned product and any information necessary for the Commission to assess whether the envisaged auction calendar is compatible with any prevailing or envisaged auction calendar of the common auction platform, as well as any other auction calendars proposed by other Member States having appointed an opt-out auction platform;

(d) the detailed rules and conditions on surveying and supervising the auctions to which its proposed auction platform shall be subject pursuant to Article 33(4), (5) and (6) as well as the detailed rules protecting against money laundering, terrorist financing, criminal activity or market abuse, including any remedial measures or sanctions;

(e) the detailed measures put in place to comply with Article 22(3) and Article 32 regarding the appointment of the auctioneer.

In case a Member State having appointed an opt-out auction platform referred to in paragraph 1 decides to reappoint the same auction platform under the same conditions and obligations as per the listing provided for in the first subparagraph, that listing shall continue to be valid where that Member State and the Commission confirm that the relevant requirements of this Regulation and the objectives of Article 10(4) of Directive 2003/87/EC are satisfied. To this end, the Member State shall provide a notification containing the information referred to in paragraph 5 to the Commission and inform the other Member States of the reappointment. The Commission shall inform the public about the extended validity of the listing.

In the absence of any listing provided for in the first subparagraph, a Member State that chooses to appoint an opt-out auction platform shall use the common auction platforms to auction its share of allowances that would have otherwise been auctioned on the opt-out auction platform to be appointed in the period until the expiry of 3 months after the entry into force of the eventual listing provided for in the first subparagraph.

A Member State that chooses to appoint an opt-out auction platform pursuant to paragraph 1 of this Article may nevertheless participate in the joint action for the sole purpose of being able to make use of the common auction platform as provided in the third subparagraph. Such participation shall take place in accordance with the provisions of Article 26(5), second subparagraph, and subject to the terms and conditions of the joint procurement agreement.

The volume of allowances that were scheduled to be auctioned on an opt-out auction platform shall be spread evenly over the auctions conducted by the relevant common auction platform.

Article 30

Tasks of opt-out auction platforms

An opt-out auction platform shall carry out the same tasks as the common auction platform, as provided for in Article 27, except managing the auction calendar as referred to in Article 27(1), point (c), and it shall submit the exit strategy referred to in Article 27(3) to the appointing Member State.

The provisions provided for in Article 8(1), (2), (3) and (5), first subparagraph, and Articles 9, 10, 12, 14 and 31 shall apply to the opt-out auction platforms.

Article 31

Auction calendar for opt-out auction platforms

From 1 January 2025, provisions of paragraph 1 of this Article applying to allowances referred to in Article 10 shall also apply to allowances referred to in Article 11.

The opt-out auction platform concerned shall publish the auction calendar for a given year by 31 July of the previous year with regard to allowances referred to in Articles 10 and 11 of this Regulation, or as soon as practicable thereafter, provided that the Commission has instructed the central administrator of the Union Registry to enter the respective auction table into the Union Registry in accordance with Delegated Regulation (EU) 2019/1122.

The opt-out auction platform concerned shall determine and publish the auction calendars only after the common auction platform has determined and published its auction calendars in accordance with Article 12, unless such auction platform has not yet been appointed pursuant to Article 26(1). The auction platforms concerned may simultaneously determine the auction calendars for allowances referred to in Articles 10 and 11, as long as the deadline for publication of the auction calendars referred to in Article 12 is respected.

Published auction calendars shall be consistent with any relevant conditions or obligations listed in Annex III.

CHAPTER IX

APPOINTMENT REQUIREMENTS APPLICABLE TO AUCTIONEERS AND AUCTION PLATFORMS

Article 32

Appointment requirements applicable to auctioneers

(b) are able to fulfil the auctioneer’s tasks in a timely manner and in accordance with the highest professional and quality standards.

Article 33

Appointment requirements applicable to auction platforms

However, where it is provided for in the procurement documents for the joint procurement procedure pursuant to Article 26(1), an entity authorised as a regulated market whose operator organises a wholesale energy market as defined in Article 2(6) of Regulation (EU) No 1227/2011 of the European Parliament and of the Council (24), but does not organise a secondary market in allowances or allowances derivatives, may participate in the procurement procedure pursuant to Article 26(1) of this Regulation. Where such entity is appointed as a common auction platform, its operator shall acquire an authorisation for organising a secondary market in allowances or allowances derivatives and shall ensure that it organises such secondary market at least 60 trading days prior to the opening of the first bidding window run by the auction platform concerned.

(a) respect of the principle of non-discrimination both de facto and de jure;

(b) full, fair and equitable access to bid in the auctions for SMEs covered by the Union system and to bid in the auctions for small emitters, as set out in Article 27(1), Article 27a(1) and Article 28a(4) of Directive 2003/87/EC;

(c) cost-efficiency and avoidance of undue administrative burden;

(d) robust auction supervision, notification of suspicions of money laundering, terrorist financing, criminal activity or market abuse, administration of any required remedial measures or sanctions, including the provision of an extra-judicial dispute resolution mechanism;

(e) avoidance of distortions of competition in the internal market, including the carbon market;

(f) proper functioning of the carbon market, including the implementation of the auctions;

(g) connection to one or more clearing systems or settlement systems;

(h) adequate measures requiring an auction platform to hand over all tangible and intangible assets necessary for the conduct of the auctions by its successor.

Where the candidate regulated market and its market operator are not established in the same Member State, the first subparagraph shall apply to both the Member State where the candidate regulated market is established and the Member State where its market operator is established.

For the purposes of appointing auction platforms in accordance with this Regulation, national measures transposing Articles 79 to 87 of Directive 2014/65/EU shall apply to cooperation between competent national authorities of different Member States and with the European Securities and Markets Authority (ESMA).

CHAPTER X

REPORTING ON TRANSACTIONS

Article 34

Obligation to report transactions

Where there are errors or omissions in the transaction reports, the reporting auction platform shall correct the information and submit a corrected report to the competent national authority.

(a) the name of the allowances or allowances derivatives;

(b) the volume of allowances bought;

(c) the dates and times of execution of the transaction;

(d) the transaction prices;

(e) the identity of the successful bidders;

(f) where applicable, the identity of the clients on whose behalf the transaction was executed.

Where the successful bidder is a legal person, the auction platform shall, when reporting the designation to identify the successful bidder, use a legal entity identifier referred to in Article 5 of Commission Delegated Regulation (EU) 2017/590 (25).

The report shall be drawn up using the data standards and formats established in Delegated Regulation (EU) 2017/590 and shall include all the relevant details referred to in Annex I of that Regulation.

CHAPTER XI

PAYMENT AND TRANSFER OF THE AUCTION PROCEEDS

Article 35

Payment by successful bidders and transfer of proceeds to the Member States

Article 36

Consequences of late or non-payment

(a) interest for each day beginning with the date on which payment was due pursuant to Article 52(3), point (d), and ending on the date on which payment is made at an interest rate set out in the contract appointing the auction platform concerned, calculated on a daily basis;

(b) a penalty, which shall accrue to the auctioneer less any costs deducted by the clearing system or settlement system.

(a) the central counterparty shall take delivery of the allowances and effect payment of the sum due to the auctioneer;

(b) the settlement agent shall apply collateral taken from the bidder to effect payment of the sum due to the auctioneer.

CHAPTER XII

DELIVERY OF THE AUCTIONED ALLOWANCES

Article 37

Transfer of the auctioned allowances

Allowances auctioned by any auction platform shall be transferred by the Union registry prior to the opening of a bidding window, into a nominated Union Registry account, to be held in escrow by the clearing system or settlement system acting as custodian, until delivery of the allowances to successful bidders or their successors in title, pursuant to the results of the auction, as provided for in the applicable delegated acts adopted pursuant to Article 19(3) of Directive 2003/87/EC.

Article 38

Delivering the auctioned allowances

A bidder may be allocated allowances from more than one Member State auctioning in the same auction if necessary to make up the volume of allowances notified to the bidder pursuant to Article 52(3), point (a).

Article 39

Late delivery of the auctioned allowances

Where the clearing system or settlement system fails to deliver all or part of the auctioned allowances due to circumstances outside its control, it shall deliver the allowances at the earliest opportunity and the successful bidders or their successors in title shall accept delivery at that later date. No other remedy for late delivery shall be available for the successful bidder or its successors in title.

CHAPTER XIII

MANAGEMENT OF COLLATERAL

Article 40

Collateral given by the bidder

Article 41

Collateral given by the auctioneer

CHAPTER XIV

FEES AND COSTS

Article 42

Structure and level of fees

However, where it is provided for in the procurement documents for the procurement procedures pursuant to Article 26(1) or Article 29(4), the operator of the auction platform may increase the fees paid by the successful bidders pursuant to Article 43(1) of this Regulation to a maximum of 120 % of the comparable standard fees paid by the successful buyers of allowances on the secondary market during the years when the auction volumes are reduced by more than 200 million allowances pursuant to Articles 1 and 1a of Decision (EU) 2015/1814.

Article 43

Costs of the auction process

However, the costs of the arrangements between the auctioneer and the auction platform referred to in Article 22(2) allowing the auctioneer to auction allowances on behalf of the appointing Member State, except the costs of any clearing or settlement system connected to the auction platform concerned, shall be borne by the auctioning Member State.

The costs referred to in the second subparagraph shall be deducted from the auction proceeds payable to the auctioneers pursuant to Article 35(2) and (3).

The first subparagraph shall also apply to Member States that have not joined the joint action as provided in Article 26(1) within 6 months of the entry into force of the joint procurement agreement referred to in the first subparagraph of Article 26(5).

The first subparagraph shall not apply where a Member State joins the joint action as provided in Article 26(1) following the expiry of the appointment period referred to in Article 29(4), second subparagraph, or where a Member State uses the common auction platform to auction its share of allowances in the absence of a listing referred to in Article 29(6).

CHAPTER XV

AUCTION SURVEILLANCE, REMEDIAL MEASURES AND SANCTIONS

Article 44

Monitoring of auctions

(a) fair and open access;

(b) transparency;

(c) price formation;

(d) technical and operational aspects of the implementation of the contract appointing the auction platform concerned;

(e) the relationship between the auction processes and the secondary market in respect of the information referred to in points (a) to (d);

(f) any evidence of anti-competitive behaviour, market abuse, money laundering, terrorist financing or criminal activity that the auction platform has been made aware of while carrying out its tasks pursuant to Article 27 or Article 30;

(g) any breach of this Regulation or of Article 10(4) of Directive 2003/87/EC that the auction platform has been made aware of while carrying out its task pursuant to Article 27 or Article 30 of this Regulation;

(h) follow-up to any information reported in accordance with points (a) to (g).

In addition, by 31 January of each year, the auction platform shall provide a summary and an analysis of the monthly reports of the previous year.

Article 45

Monitoring the relationship with bidders

(a) scrutinising bids made throughout the course of that relationship to ensure that the bidding behaviour of bidders is consistent with the auction platform’s knowledge of the customer, its business and risk profile, including, where necessary, the source of funds;

(b) maintaining effective arrangements and procedures for the regular monitoring of the compliance by persons admitted to bid pursuant to Article 18(3) and Article 19 with its market conduct rules;

(c) monitoring transactions undertaken by persons admitted to bid pursuant to Article 18(3) and Article 19 and by politically exposed persons using its systems in order to identify breaches of the rules referred to in point (b) of this subparagraph, unfair or disorderly auctioning conditions or conduct that may invoke market abuse.

Where scrutinising bids in accordance with the first subparagraph, point (a), the auction platform shall pay particular attention to any activity which it regards as particularly likely, by its nature, to be related to money laundering, terrorist financing or criminal activity.

(a) request any information of the bidder, pursuant to Article 18(3), Article 19(2) and Article 20(5) and (7), for the purposes of monitoring the relationship with that bidder following its admission to bid in the auctions, throughout the subsistence of that relationship and for a period of 5 years following the termination of its admission to bid;

(b) require a bidder to re-submit an application for admission to bid at regular intervals;

(c) require a bidder to promptly notify the auction platform concerned of any changes to the information submitted to it pursuant to Article 18(3), Article 19(2) and Article 20(5) and (7).

(a) the application for admission to bid submitted by an applicant pursuant to Article 18(3) and Article 19(2), including any amendments thereto;

(c) all information relating to a given bid submitted by a given bidder in an auction, including any withdrawal or modification of such bid, pursuant to Article 6(3), second subparagraph, and Article 6(4);

(d) all information relating to the conduct of each auction in which a bidder has submitted a bid.

Article 46

Notification of money laundering, terrorist financing or criminal activity

(a) the customer due diligence measures referred to in Article 19(2), point (e), and Article 20(8) of this Regulation;

(b) the obligation to refuse to grant admission to bid or to revoke or suspend any admission to bid already granted pursuant to Article 21(1) and (2) of this Regulation;

(c) the monitoring and record keeping requirements set out in Article 45 of this Regulation;

(d) the notification requirements set out in paragraphs 2 and 3.

The competent national authorities shall have the powers referred to in Article 48(2) and (3) of Directive (EU) 2015/849.

An auction platform may be held liable for infringements of paragraphs 2 and 3 of this Article and of Article 20(5) and (8), Article 21(1) and (2), and Article 45 of this Regulation. The sanctions and measures referred to in Articles 58 to 62 of Directive (EU) 2015/849 shall apply to such infringements.

(a) informing the FIU, including by submitting to it a report, on their own initiative, where they know, suspect or have reasonable grounds to suspect that any funds in relation to the auctions are the proceeds of criminal activity or are related to terrorist financing, and by promptly responding to requests by the FIU for additional information in such cases;

(b) providing the FIU directly, at its request, with all necessary information to fulfil its tasks.

All suspicious transactions, including attempted transactions, shall be reported.

Article 47

Notification of market abuse

Article 48

Maximum bid-size and other remedial measures

(a) the same group of undertakings including any parent undertakings, its subsidiary undertakings and affiliate undertakings;

(b) the same business grouping;

(c) a separate economic unit having an independent power of decision where they are controlled, directly or indirectly, by public bodies or state-owned entities.

Article 49

Market conduct rules and other contractual arrangements

An auction platform shall be entitled to take any other action under its market conduct rules and other contractual arrangements in place, directly or indirectly, with any bidders admitted to bid in the auctions, provided that such action does not conflict with or undermine the provisions set out in Articles 44 to 48.

Article 50

Conduct rules for persons authorised to bid on behalf of others

(a) persons authorised to bid pursuant to Article 18(2);

(b) investment firms and credit institutions referred to Article 18(1), points (b) and (c).

(a) they shall accept instructions from their clients on comparable terms;

(b) they shall refuse to bid on behalf of a client if they have reasonable grounds to suspect money laundering, terrorist financing, criminal activity or market abuse, subject to national legislation transposing Articles 35 and 39 of Directive (EU) 2015/849;

(c) they may refuse to bid on behalf of a client if they have reasonable grounds to suspect that the client is unable to pay for the allowances for which it is seeking to bid;

(d) they shall enter into a written agreement with their clients, which shall not impose any unfair conditions or restrictions on the client concerned and which shall provide for all the terms and conditions relating to the services offered, including payment and delivery of the allowances;

(e) they may require their clients to make a deposit by way of advance payment for allowances;

(f) they may not unduly limit the number of bids that a client might submit;

(g) they may not prevent or restrict their clients from engaging the services of other entities eligible pursuant to Article 18(1), points (b) to (e), and Article 18(2) to bid on their behalf in the auctions;

(h) they shall pay due regard to the interests of their clients;

(i) they shall treat clients fairly and without discrimination;

(j) they shall maintain adequate internal systems and procedures to process requests from clients to act as agent in an auction and to be able to participate effectively in an auction, in particular with regard to the submission of bids on behalf of their clients, the collection of payments and collateral from their clients, and the transfer of allowances to their clients;

(k) they shall prevent the disclosure of confidential information from the part of their business responsible for receiving, preparing and submitting bids on behalf of their clients to the part of their business responsible for preparing and submitting bids on their own account or to the part of their business responsible for dealing on their own account on the secondary market;

(l) they shall keep records of information obtained or created in their role as intermediaries handling bids on behalf of their clients in the auctions, for five years from the date of obtaining or creating the information concerned.

The amount of the deposit referred to in the first subparagraph, point (e), shall be calculated on a just and reasonable basis and shall be set out in the agreements referred to in point (d) of that subparagraph. Any part of that deposit not used to satisfy payment for allowances shall be refunded to the client within a reasonable period after the auction as stated in the agreements referred to in the first subparagraph, point (d).

(a) they shall provide any information requested by any auction platform where they are admitted to bid;

(b) they shall act with integrity, reasonable skill, care and diligence.

(a) they are of sufficiently good repute and sufficiently experienced as to ensure proper respect of the conduct rules provided for in paragraphs 2 and 3;

(b) they have put in place the necessary processes and checks to manage conflicts of interest and to serve the best interests of their clients;

(c) they comply with the requirements of Directive (EU) 2015/849;

(d) they comply with any other measures deemed necessary having regard to the nature of the bidding services being offered and the level of sophistication of the clients in question in terms of their investor or trading profile as well as any risk-based assessment of the likelihood of money laundering, terrorist financing or criminal activity.

(a) its competent national authorities have at their disposal investigative powers and sanctions that are effective, proportionate and dissuasive;

(b) a mechanism is established for the handling of complaints and the withdrawal of authorisations where the authorised persons are in breach of their obligations pursuant to such authorisation;

(c) its competent national authorities may withdraw the authorisation granted under paragraph 5 where an authorised person has seriously and systematically infringed the provisions set out in paragraphs 2 and 3.

CHAPTER XVI

TRANSPARENCY AND CONFIDENTIALITY

Article 51

Publication

The following shall be published on a dedicated up-to-date auctioning website maintained by the auction platform concerned:

(a) all legislation, guidance, instructions, forms, documents and announcements, pertinent to the auctions on the auction platform, including the auction calendar;

(b) any other non-confidential information pertinent to the auctions on the given auction platform, including the list of persons admitted to bid in the auctions;

(c) any decision, including any decision pursuant to Article 48, to impose a maximum bid-size and any other remedial measures necessary to mitigate an actual or potential discernible risk of money-laundering, terrorist financing, criminal activity or market abuse on the auction platform;

(d) a list of the names and business addresses, business telephone numbers, business electronic mail addresses and business websites of all persons admitted to bid on behalf of others in auctions conducted by the auction platform.

Information referred to in the first subparagraph which is no longer relevant shall be archived. Such archives shall be accessible through the auctioning website referred to in that subparagraph.

Article 52

Announcement and notification of the auction results

(a) the volume of the allowances auctioned;

(b) the auction clearing price in euros;

(c) the total volume of bids submitted;

(d) the total number of bidders and the number of successful bidders;

(e) in case of cancellation of an auction, the auctions to which the volume of allowances will be carried over;

(f) the total revenue earned from the auction;

(g) the distribution of the revenue between the Member States and the Funds referred to in Article 24, in the case of the common auction platform.

(a) the total number of allowances to be allocated to that bidder;

(b) which of its tied bids, if any, were randomly selected;

(c) the payment due either in euros or in the currency of a Member State not member of the euro-zone, chosen by the bidder provided that the clearing system or settlement system is capable of handling the national currency in question;

(d) the date by which the payment due must be paid in cleared funds into the auctioneer’s nominated bank account.

Article 53

Protection of confidential information

(a) the contents of a bid;

(b) the contents of any instructions to bid even when no bid is submitted;

(e) information provided by persons in the framework of the establishment or maintenance of the relationship with bidders or in the framework of the monitoring of that relationship pursuant to Articles 19, 20, 21 and 45;

(f) business secrets provided by persons participating in a competitive procurement process to appoint an auction platform;

(g) information on the algorithm used for the random selection of tied bids, referred to in Article 7(1), second subparagraph;

(h) information on the methodology to establish what constitutes an auction clearing price significantly under the prevailing secondary market price before and during an auction, referred to in Article 7(7).

(a) has already lawfully been made available to the public;

(b) is made public with the written consent of a bidder, a person admitted to bid, or a person applying for admission to bid;

(c) is required to be disclosed or to be publicly available by Union law;

(d) is made public pursuant to a court order;

(e) is disclosed or made public for the purposes of any criminal, administrative, or judicial investigations or proceedings carried out in the Union;

(g) is referred to in paragraph 1, point (f), provided that it is disclosed to persons working for Member States or the Commission involved in the competitive procurement process referred to in that point, who are themselves bound by an obligation of professional secrecy under their terms of employment;

(a) the competent national authorities supervising an auction platform;

(b) the competent national authorities responsible for investigating and prosecuting money laundering, terrorist financing, criminal activity or market abuse;

(c) the Commission.

Confidential information exchanged under this paragraph shall not be disclosed to other persons than those referred to in the first subparagraph, points (a), (b) and (c).

Article 54

Language regime

Where a Member State provides, at its own cost, for the translation of all information referred to in paragraph 1 provided by the common auction platform, any Member State having appointed an opt-out auction platform shall also provide, at its own cost, for the translation into the same languages of all information referred to in paragraph 1 provided by that opt-out auction platform.

(a) their applications for admission to bid, including any supporting documents;

(b) their bids, including any withdrawal or modifications thereof;

(c) any queries relating to point (a) or (b).

An auction platform may request a certified translation of the information referred to in the first subparagraph into a language customary in the sphere of international finance.

Where a Member State has decided to provide for a translation in accordance with paragraph 2 in the language referred to in the first subparagraph, all other oral or written communication by an auction platform to applicants for admission to bid, persons admitted to bid or bidders participating in an auction shall also be made in that language at no additional cost to the applicants, persons and bidders in question.

However, even where a Member State has decided to provide for a translation into the language referred to in the first subparagraph in accordance with paragraph 2, the applicant for admission to bid, the person admitted to bid or the bidder participating in an auction may waive its right under the second subparagraph of this paragraph by giving prior written consent for the auction platform concerned to use only a language customary in the sphere of international finance for communication referred to in that subparagraph.

Persons submitting a translation of a document referred to in paragraph 3 and any auction platform notifying a translated document under paragraph 4 shall ensure that it is an accurate translation of the original document.

CHAPTER XVII

FINAL PROVISIONS

Article 55

Right of appeal

(a) applicants for admission to bid, in particular persons whose application for admission to bid has been refused;

(b) persons whose admission to bid has been revoked or suspended;

(c) persons admitted to bid.

Article 56

Correction of errors

Article 57

Repeal

Article 58

Entry into force

This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 17 October 2023.

For the Commission The President Ursula VON DER LEYEN

(1) OJ L 275, 25.10.2003, p. 32.

(2) Directive (EU) 2023/959 of the European Parliament and of the Council of 10 May 2023 amending Directive 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the Union and Decision (EU) 2015/1814 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading system (OJ L 130, 16.5.2023, p. 134).

(3) Regulation (EU) 2021/1119 of the European Parliament and of the Council of 30 June 2021 establishing the framework for achieving climate neutrality and amending Regulations (EC) No 401/2009 and (EU) 2018/1999 (‘European Climate Law’) (OJ L 243, 9.7.2021, p. 1).

(4) Commission Regulation (EU) No 1031/2010 of 12 November 2010 on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances pursuant to Directive 2003/87/EC of the European Parliament and of the Council establishing a system for greenhouse gas emission allowances trading within the Community (OJ L 302, 18.11.2010, p. 1).

(5) Regulation (EU) 2021/241 of the European Parliament and of the Council of 12 February 2021 establishing the Recovery and Resilience Facility (OJ L 57, 18.2.2021, p. 17).

(6) Regulation (EU) 2023/955 of the European Parliament and of the Council of 10 May 2023 establishing a Social Climate Fund and amending Regulation (EU) 2021/1060 (OJ L 130, 16.5.2023, p. 1).

(7) Commission Delegated Regulation (EU) 2019/1122 of 12 March 2019 supplementing Directive 2003/87/EC of the European Parliament and of the Council as regards the functioning of the Union Registry (OJ L 177, 2.7.2019, p. 3).

(8) Regulation (EU) 2023/955 of the European Parliament and of the Council of 10 May 2023 establishing a Social Climate Fund and amending Regulation (EU) 2021/1060 (OJ L 130, 16.5.2023, p. 1).

(9) Decision (EU) 2015/1814 of the European Parliament and of the Council of 6 October 2015 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading system and amending Directive 2003/87/EC (OJ L 264, 9.10.2015, p. 1)

(10) Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012 (OJ L 193, 30.7.2018, p. 1).

(11) Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.6.2014, p. 349).

(12) Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L 173, 12.6.2014, p. 1).

(13) Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 (OJ L 173, 12.6.2014, p. 84).

(14) Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73).

(15) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).

(16) Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19).

(17) Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (the EC Merger Regulation) (OJ L 24, 29.1.2004, p. 1).

(18) Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73).

(19) Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems (OJ L 166, 11.6.1998, p. 45).

(20) Commission Recommendation of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises (notified under document number C(2003) 1422) (2003/361/EC) (OJ L 124, 20.5.2003, p. 36).

(21) Regulation (EU) 2018/842 of the European Parliament and of the Council of 30 May 2018 on binding annual greenhouse gas emission reductions by Member States from 2021 to 2030 contributing to climate action to meet commitments under the Paris Agreement and amending Regulation (EU) No 525/2013 (OJ L 156, 19.6.2018, p. 26).

(22) Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338).

(23) Commission Delegated Regulation (EU) 2019/856 of 26 February 2019 supplementing Directive 2003/87/EC of the European Parliament and of the Council with regard to the operation of the Innovation Fund (OJ L 140, 28.5.2019, p. 6).

(24) Regulation (EU) No 1227/2011 of the European Parliament and of the Council of 25 October 2011 on wholesale energy market integrity and transparency (OJ L 326, 8.12.2011, p. 1).

(25) Commission Delegated Regulation (EU) 2017/590 of 28 July 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the reporting of transactions to competent authorities. (OJ L 87, 31.3.2017, p. 449).