Fourth Report of Session 2021-22 Contents


S.I. 2021/513

Recognised Auction Platforms and Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021

1.In its letter to HM Treasury of 26 May 2021, the Committee requested a memorandum on the following point:

In relation to regulation 9, explain why “EU emissions allowance” is defined in regulation 12(5) when the term does not appear in that regulation.

2.The defined term should have been “EU allowance”, not “EU emissions allowance”: the former is used in the definition of “relevant December futures contract” in substituted regulation 12(5).

3.HM Treasury is considering with the Statutory Instrument Registrar whether the error can be addressed by a correction slip. If not, it will be corrected at the next available opportunity. In the meantime, HM Treasury does not consider that there is any scope for confusion as to what is intended.

4.HM Treasury is grateful to the Committee for drawing the matter to its attention.

HM Treasury

28 May 2021

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