The Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021

Made: 10th May 2021

Laid before the House of Commons: 11th May 2021

Coming into force: 19th May 2021

The Treasury, in exercise of the powers conferred by section 96 of the Finance Act 2020[^f00001], makes the following Regulations.

Citation, commencement and extent

1

• (1) These Regulations may be cited as the Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021.

• (2) They come into force on 19th May 2021, immediately after the Recognised Auction Platforms and Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021[^f00002].

• (3) They extend to the whole of the United Kingdom.

Amendments to the Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021

2

• (1) The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021[^f00003] are amended as follows.

• (2) In regulation 2(1) (interpretation), omit the definition of “registry administrator”.

• (3) In regulation 5 (submission and withdrawal of bids)—

• (a) in paragraph (5), omit “established in the United Kingdom”;

• (b) omit paragraph (9).

• (4) In regulation 9(8) (annual volumes of allowances), omit “direct the registry administrator to”.

• (5) In regulation 10(1) (adjustments of the auction calendar), after sub-paragraph (a) insert—

(aa) the calculation of the annual volume of allowances in accordance with regulation 9;

• (6) In the Schedule (list of the elements referred to in regulation 18(5))—

• (a) in paragraph 8, for “permanent residential address in the United Kingdom” substitute “residential address”;

• (b) in paragraph 12, for “VAT return” substitute “United Kingdom VAT return, if any”;

• (c) in paragraph 13—

• (i) for “VAT registration” substitute “United Kingdom VAT registration”;

• (ii) omit “, and, where the applicant is not registered for VAT, any other means of identifying the applicant by HM Revenue and Customs, or such further information as required to be satisfied as to the applicant’s fiscal status within the United Kingdom”.

Signed

Maggie Throup — James Morris — Two of the Lords Commissioners of Her Majesty’s Treasury — 10th May 2021

Explanatory note

(This note is not part of the Regulations)

EXPLANATORY NOTE

These Regulations are made in exercise of the powers conferred by section 96 of the Finance Act 2020 (c. 14).

These Regulations amend the Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021 (S.I. 2021/484), which provide for the auctioning of allowances created for the purposes of the UK Emissions Trading Scheme, to clarify the criteria applicable to representatives of those eligible to apply to bid for allowances under those Regulations and to correct a number of other minor errors.

A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen.

Footnotes

[^f00001]: 2020 c. 14.

[^f00002]: S.I. 2021/513.

[^f00003]: S.I. 2021/484, as amended by S.I. 2021/513.