Regulation 4 Amendment of the Community Emissions Trading Scheme (Allocation of Allowances for Payment) Regulations 2008

Regulation 2 (interpretation) of the principal Regulations is amended as follows.

After the definition of “bid” insert:

• ““bid instruction” means information (in any form) comprising—

  1. (a)

     the number of allowances which an account holder wishes to acquire in an auction,

  2. (b)

     the price which an account holder is willing to pay for those allowances, and

  3. (c)

     the identity of that account holder,

  but which has not been submitted as a bid.

• “confidential information” means—

  1. (a)

     the contents of a bid,

  2. (b)

     the contents of a bid instruction,

  3. (c)

     information which discloses or from which can be deduced either—

     1. (i)

        the number of allowances which an account holder wishes to acquire in an auction; or

     2. (ii)

        the price which an account holder is willing to pay for those allowances,

  and the identity of that account holder;

  1. (d)

     information about or derived from a bid instruction or bid instructions or a bid or bids or any of them together which would be likely to—

     1. (i)

        give an indication as to the demand for allowances at any auction,

     2. (ii)

        give an indication as to the auction clearing price at any auction, or

     3. (iii)

        have an effect on the auction clearing price at any auction.”