Appointment of opt-out auction platforms
Article 29
1. A Member State not participating in the joint action as provided in Article 26(1) may appoint its own opt-out auction platform for the auctioning of its volume of allowances referred to in Articles 10 and 11. 2. An opt-out auction platform may be the same auction platform as the common auction platform or a different auction platform. 3. A Member State that decides to appoint an opt-out auction platform shall inform the Commission thereof by the last day of the third month after the date of entry into force of Regulation (EU) No 1031/2010. 4. An opt-out auction platform shall be selected, based on a selection procedure that is compliant with Union and national procurement law where a public procurement process is required by either Union or national law, respectively. The selection procedure shall be subject to all applicable remedies and enforcement procedures under Union and national law. 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. 5. A Member State that decides to appoint an opt-out auction platform shall provide the Commission with a complete notification containing all of the following: (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. 6. Opt-out auction platforms appointed under paragraph 1 of this Article, their period of appointment, the Member States appointing them and any applicable conditions or obligations shall be listed in Annex III if the relevant requirements of this Regulation and the objectives of Article 10(4) of Directive 2003/87/EC are satisfied. The Commission shall act solely based on those requirements and objectives and shall have full regard to any information submitted by the Member State concerned. 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. 7. Any Member State not participating in the joint action as provided in Article 26(1) but choosing to appoint an opt-out auction platform may join the joint action provided for in Article 26(1), pursuant to Article 26(5). 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.