What changed, Commission Delegated Regulation (EU) 2023/2830 of 17 October 2023 supplementing Directive 2003/87/EC

+ ## CHAPTER I — GENERAL PROVISIONS
− ### art_1
+ ### Article 1 — Subject Matter
− Article 1
+ ### Article 2 — Scope
− ### art_2
− Article 2
− 
+ ### Article 3 — Definitions
− ### art_3
− Article 3
− 
+ (1) ‘two-day spot contracts’ means contracts by which allowances are auctioned for delivery at an agreed date no later than the second trading day following the day of the auction;
− | (1) | ‘two-day spot contracts’ means contracts by which allowances are auctioned for delivery at an agreed date no later than the second trading day following the day of the auction; |
− | --- | --- |
+ (2) ‘bid’ means an offer in an auction to acquire a given volume of allowances at a specified price;
− | (2) | ‘bid’ means an offer in an auction to acquire a given volume of allowances at a specified price; |
− | --- | --- |
+ (3) ‘bidding window’ means the time period during which bids may be submitted;
− | (3) | ‘bidding window’ means the time period during which bids may be submitted; |
− | --- | --- |
+ (4) ‘trading day’ means any day during which an auction platform and the clearing system or settlement system connected to it are open for trading;
− | (4) | ‘trading day’ means any day during which an auction platform and the clearing system or settlement system connected to it are open for trading; |
− | --- | --- |
+ (5) ‘investment firm’ means investment firm as defined in Article 4(1), point (1), of Directive 2014/65/EU;
− | (5) | ‘investment firm’ means investment firm as defined in Article 4(1), point (1), of Directive 2014/65/EU; |
− | --- | --- |
+ (6) ‘credit institution’ means credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 of the European Parliament and of the Council (1);
− | (6) | ‘credit institution’ means credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 of the European Parliament and of the Council (15); |
− | --- | --- |
+ (7) ‘financial instrument’ means financial instrument as defined in Article 4(1), point (15), of Directive 2014/65/EU;
− | (7) | ‘financial instrument’ means financial instrument as defined in Article 4(1), point (15), of Directive 2014/65/EU; |
− | --- | --- |
+ (8) ‘secondary market’ means the market in which persons buy or sell allowances either before or after they are allocated either free of charge or through auctioning;
− | (8) | ‘secondary market’ means the market in which persons buy or sell allowances either before or after they are allocated either free of charge or through auctioning; |
− | --- | --- |
+ (9) ‘parent undertaking’ means parent undertaking as defined in Article 2, point (9), of Directive 2013/34/EU of the European Parliament and of the Council (2);
− | (9) | ‘parent undertaking’ means parent undertaking as defined in Article 2, point (9), of Directive 2013/34/EU of the European Parliament and of the Council (16); |
− | --- | --- |
+ (10) ‘subsidiary undertaking’ means subsidiary undertaking as defined in Article 2, point (10), of Directive 2013/34/EU;
− | (10) | ‘subsidiary undertaking’ means subsidiary undertaking as defined in Article 2, point (10), of Directive 2013/34/EU; |
− | --- | --- |
+ (11) ‘affiliate undertaking’ means affiliate undertaking as defined in Article 2, point (12), of Directive 2013/34/EU;
− | (11) | ‘affiliate undertaking’ means affiliate undertaking as defined in Article 2, point (12), of Directive 2013/34/EU; |
− | --- | --- |
+ (12) ‘control’ means control as referred to in Article 3(2) and (3) of Council Regulation No 139/2004 (3);
− | (12) | ‘control’ means control as referred to in Article 3(2) and (3) of Council Regulation No 139/2004 (17); |
− | --- | --- |
+ (13) ‘auction process’ means the process encompassing the setting of the auction calendar, the procedures for admission to bid, the procedures for submission of bids, the conduct of the auction, the calculation and announcement of the auction results, the arrangements for payment of the price due an…
− | (13) | ‘auction process’ means the process encompassing the setting of the auction calendar, the procedures for admission to bid, the procedures for submission of bids, the conduct of the auction, the calculation and announcement of the auction results, the arrangements for payment of the price du…
− | --- | --- |
+ (14) ‘money laundering’ means money laundering as defined in Article 1(3), (4) and (6) of Directive (EU) 2015/849 of the European Parliament and of the Council (4);
− | (14) | ‘money laundering’ means money laundering as defined in Article 1(3), (4) and (6) of Directive (EU) 2015/849 of the European Parliament and of the Council (18); |
− | --- | --- |
+ (15) ‘terrorist financing’ means terrorist financing as defined in Article 1(5) and (6) of Directive (EU) 2015/849;
− | (15) | ‘terrorist financing’ means terrorist financing as defined in Article 1(5) and (6) of Directive (EU) 2015/849; |
− | --- | --- |
+ (16) ‘criminal activity’ means criminal activity as defined in Article 3, point (4), of Directive (EU) 2015/849;
− | (16) | ‘criminal activity’ means criminal activity as defined in Article 3, point (4), of Directive (EU) 2015/849; |
− | --- | --- |
+ (17) ‘auction platform’ means any public or private entity appointed to carry out the tasks referred to in Articles 27, 28, 30 and 31;
− | (17) | ‘auction platform’ means any public or private entity appointed to carry out the tasks referred to in Articles 27, 28, 30 and 31; |
− | --- | --- |
+ (18) ‘common auction platform’ means the auction platform appointed following a joint procurement procedure between the Commission and the Member States, as contracting authorities, pursuant to Article 26(1)
− | (18) | ‘common auction platform’ means the auction platform appointed following a joint procurement procedure between the Commission and the Member States, as contracting authorities, pursuant to Article 26(1) |
− | --- | --- |
+ (19) ‘opt-out auction platform’ means the auction platform appointed by a Member State not participating in the joint action as provided in Article 26(1), as its own auction platform, pursuant to Article 29(1)
− | (19) | ‘opt-out auction platform’ means the auction platform appointed by a Member State not participating in the joint action as provided in Article 26(1), as its own auction platform, pursuant to Article 29(1) |
− | --- | --- |
+ (20) ‘auctioneer’ means any public or private entity appointed to carry out the tasks referred to in Article 23;
− | (20) | ‘auctioneer’ means any public or private entity appointed to carry out the tasks referred to in Article 23; |
− | --- | --- |
+ (21) ‘nominated Union Registry account’ means an account in the Union Registry established by Delegated Regulation (EU) 2019/1122;
− | (21) | ‘nominated Union Registry account’ means an account in the Union Registry established by Delegated Regulation (EU) 2019/1122; |
− | --- | --- |
+ (22) ‘nominated bank account’ means a bank account designated by an auctioneer, a bidder or bidder’s successor in title for the receipt of payments due under this Regulation;
− | (22) | ‘nominated bank account’ means a bank account designated by an auctioneer, a bidder or bidder’s successor in title for the receipt of payments due under this Regulation; |
− | --- | --- |
+ (23) ‘customer due diligence measures’ means the customer due diligence measures as referred to in Article 13 of Directive (EU) 2015/849 and the enhanced customer due diligence measures as set out in Articles 18, 18a and 20 of that Directive;
− | (23) | ‘customer due diligence measures’ means the customer due diligence measures as referred to in Article 13 of Directive (EU) 2015/849 and the enhanced customer due diligence measures as set out in Articles 18, 18a and 20 of that Directive; |
− | --- | --- |
+ (24) ‘beneficial owner’ means beneficial owner as defined in Article 3, point (6), of Directive (EU) 2015/849;
− | (24) | ‘beneficial owner’ means beneficial owner as defined in Article 3, point (6), of Directive (EU) 2015/849; |
− | --- | --- |
+ (25) ‘duly certified copy’ means an authentic copy of an original document that is certified as being a true copy of the original by a qualified lawyer, accountant, notary public or similar professional who is recognised under the national law of the Member State concerned to attest officially as to…
− | (25) | ‘duly certified copy’ means an authentic copy of an original document that is certified as being a true copy of the original by a qualified lawyer, accountant, notary public or similar professional who is recognised under the national law of the Member State concerned to attest officially a…
− | --- | --- |
+ (26) ‘politically exposed person’ means politically exposed person as defined in Article 3, point (9), of Directive (EU) 2015/849;
− | (26) | ‘politically exposed person’ means politically exposed person as defined in Article 3, point (9), of Directive (EU) 2015/849; |
− | --- | --- |
+ (27) ‘market abuse’ means market abuse as defined in Article 1 of Regulation (EU) No 596/2014;
− | (27) | ‘market abuse’ means market abuse as defined in Article 1 of Regulation (EU) No 596/2014; |
− | --- | --- |
+ (28) ‘inside information’ means inside information as defined in Article 7 of Regulation (EU) No 596/2014;
− | (28) | ‘inside information’ means inside information as defined in Article 7 of Regulation (EU) No 596/2014; |
− | --- | --- |
+ (29) ‘insider dealing’ means insider dealing as defined in Article 8 of Regulation (EU) No 596/2014;
− | (29) | ‘insider dealing’ means insider dealing as defined in Article 8 of Regulation (EU) No 596/2014; |
− | --- | --- |
+ (30) ‘unlawful disclosure of inside information’ means unlawful disclosure of inside information as defined in Article 10 of Regulation (EU) No 596/2014;
− | (30) | ‘unlawful disclosure of inside information’ means unlawful disclosure of inside information as defined in Article 10 of Regulation (EU) No 596/2014; |
− | --- | --- |
+ (31) ‘market manipulation’ means market manipulation as defined in Article 12 of Regulation (EU) No 596/2014;
− | (31) | ‘market manipulation’ means market manipulation as defined in Article 12 of Regulation (EU) No 596/2014; |
− | --- | --- |
+ (32) ‘clearing system’ means an infrastructure connected to the auction platform that provides clearing, margining, netting, management of collateral, settlement and delivery, and any other services, carried out by a central counterparty that is accessed either directly or indirectly through members…
− | (32) | ‘clearing system’ means an infrastructure connected to the auction platform that provides clearing, margining, netting, management of collateral, settlement and delivery, and any other services, carried out by a central counterparty that is accessed either directly or indirectly through mem…
− | --- | --- |
+ (33) ‘clearing’ means all processes taking place before the opening of the bidding window, during the bidding window and after the closing of the bidding window until settlement, and involving the management of any risks arising during that interval, including during margining, netting, or novation,…
− | (33) | ‘clearing’ means all processes taking place before the opening of the bidding window, during the bidding window and after the closing of the bidding window until settlement, and involving the management of any risks arising during that interval, including during margining, netting, or novat…
− | --- | --- |
+ (34) ‘margining’ means the process by which collateral is pledged by an auctioneer or a bidder, or one or more intermediaries acting on their behalf, to cover a given financial position, encompassing the entire process of measuring, calculating and administering the collateral put up to cover such f…
− | (34) | ‘margining’ means the process by which collateral is pledged by an auctioneer or a bidder, or one or more intermediaries acting on their behalf, to cover a given financial position, encompassing the entire process of measuring, calculating and administering the collateral put up to cover su…
− | --- | --- |
+ (35) ‘settlement’ means payment by a successful bidder or its successor in title, or by a central counterparty or a settlement agent of the sum due for allowances to be delivered to that bidder or its successor in title or to a central counterparty or a settlement agent, and delivery of the allowanc…
− | (35) | ‘settlement’ means payment by a successful bidder or its successor in title, or by a central counterparty or a settlement agent of the sum due for allowances to be delivered to that bidder or its successor in title or to a central counterparty or a settlement agent, and delivery of the allo…
− | --- | --- |
+ (36) ‘central counterparty’ means an entity that interposes either directly between an auctioneer and a bidder or its successor in title, or between intermediaries representing them, and acts as the exclusive counterparty to each of them guaranteeing the payment of the auction proceeds to the auctio…
− | (36) | ‘central counterparty’ means an entity that interposes either directly between an auctioneer and a bidder or its successor in title, or between intermediaries representing them, and acts as the exclusive counterparty to each of them guaranteeing the payment of the auction proceeds to the au…
− | --- | --- |
+ (37) ‘settlement system’ means any infrastructure, whether or not connected to the auction platform, that provides settlement services, which include clearing, netting, management of collateral, or any other services and which ultimately enable the payment of the sum due by a successful bidder or it…
− | (37) | ‘settlement system’ means any infrastructure, whether or not connected to the auction platform, that provides settlement services, which include clearing, netting, management of collateral, or any other services and which ultimately enable the payment of the sum due by a successful bidder o…
− | --- | --- |
− | (a) | the banking system and the Union Registry; |
− | (b) | one or more settlement agents acting on behalf of an auctioneer and a bidder or its successor in title, accessing the settlement agent either directly or indirectly through members of the settlement agent who act as intermediaries between their clients and the settlement agent; |
+ (38) ‘settlement agent’ means an entity acting as an agent providing accounts to the auction platform, through which accounts instructions for the transfer of the auctioned allowances given by the auctioneer or an intermediary representing it and for the payment of the auction clearing price by a su…
− | (38) | ‘settlement agent’ means an entity acting as an agent providing accounts to the auction platform, through which accounts instructions for the transfer of the auctioned allowances given by the auctioneer or an intermediary representing it and for the payment of the auction clearing price by …
− | --- | --- |
+ (39) ‘collateral’ means collateral security as defined in Article 2, point (m), of Directive 98/26/EC of the European Parliament and of the Council (5), including any allowances accepted as security by the clearing system or settlement system;
− | (39) | ‘collateral’ means collateral security as defined in Article 2, point (m), of Directive 98/26/EC of the European Parliament and of the Council (19), including any allowances accepted as security by the clearing system or settlement system; |
− | --- | --- |
+ (40) ‘regulated market’ means regulated market as defined in Article 4(1), point (21), of Directive 2014/65/EU;
− | (40) | ‘regulated market’ means regulated market as defined in Article 4(1), point (21), of Directive 2014/65/EU; |
− | --- | --- |
+ (41) ‘SMEs’ means operators, aircraft operators, shipping companies or regulated entities that are small and medium-sized enterprises within the meaning of Commission Recommendation 2003/361/EC (6);
− | (41) | ‘SMEs’ means operators, aircraft operators, shipping companies or regulated entities that are small and medium-sized enterprises within the meaning of Commission Recommendation 2003/361/EC (20); |
− | --- | --- |
+ (42) ‘market operator’ means market operator as defined in Article 4(1), point (18), of Directive 2014/65/EU;
− | (42) | ‘market operator’ means market operator as defined in Article 4(1), point (18), of Directive 2014/65/EU; |
− | --- | --- |
+ (43) ‘Member State of establishment’ means any of the following: (a) in the case of persons referred to in Article 6(3), second subparagraph of this Regulation, the Member State where the person has its place of residence or permanent address; (b) in the case of persons referred to in Article 18(1),…
− | (43) | ‘Member State of establishment’ means any of the following:(a)in the case of persons referred to in Article 6(3), second subparagraph of this Regulation, the Member State where the person has its place of residence or permanent address;(b)in the case of persons referred to in Article 18(1),…
− | --- | --- |
− | (a) | in the case of persons referred to in Article 6(3), second subparagraph of this Regulation, the Member State where the person has its place of residence or permanent address; |
− | (b) | in the case of persons referred to in Article 18(1), point (b), and Article 18(2), and of business groupings referred to in Article 18(1), point (d), of this Regulation, home Member State as defined in Article 4(1), point (55)(a), of Directive 2014/65/EU; |
− | (c) | in the case of persons referred to in Article 18(1), point (c), of this Regulation, home Member State as defined in Article 4(1), point (43), of Regulation (EU) No 575/2013; |
− | (d) | in the case of a regulated market referred to in Article 33(4), (5) and (6) of this Regulation, home Member State as defined in Article 4(1), point (55)(b), of Directive 2014/65/EU; |
+ (44) ‘exit strategy’ means one or more documents that are determined in accordance with the contracts appointing the auction platform concerned and that set out detailed measures planned to ensure the following: (a) the transfer of all tangible and intangible assets necessary for the uninterrupted c…
− | (44) | ‘exit strategy’ means one or more documents that are determined in accordance with the contracts appointing the auction platform concerned and that set out detailed measures planned to ensure the following:(a)the transfer of all tangible and intangible assets necessary for the uninterrupted…
− | --- | --- |
− | (a) | the transfer of all tangible and intangible assets necessary for the uninterrupted continuation of the auctions and the smooth operation of the auction process by an auction platform’s successor; |
− | (b) | the provision of all information relating to the auction process, that is necessary for the procurement procedure for the appointment of the auction platform’s successor; |
− | (c) | the provision of the technical assistance that enables the contracting authorities or the auction platform’s successor or any combination of these to understand, access or use the relevant assets provided pursuant to points (a) and (b). |
+ ## CHAPTER II — THE DESIGN OF AUCTIONS
− ### art_4
+ ### Article 4 — Auctioned products
− Article 4
+ **1.** Allowances shall be offered for sale on an auction platform by means of standardised electronic contracts (‘the auctioned product’).
− 1. Allowances shall be offered for sale on an auction platform by means of standardised electronic contracts (‘the auctioned product’).
+ **2.** Each Member State shall auction allowances in the form of two-day spot contracts.
− 2. Each Member State shall auction allowances in the form of two-day spot contracts.
+ ### Article 5 — Auction format
− ### art_5
− 
− Article 5
+ ### Article 6 — Submission and withdrawal of bids
− ### art_6
+ **1.** The minimum volume bid for shall be one lot of 500 allowances.
− Article 6
+ **2.** Each bid shall state the following:(a) the identity of the bidder and whether the bidder is bidding on its own account or on behalf of a client;(b) where the bidder is bidding on behalf of a client, the identity of the client;(c) the volume bid as a number of allowances in integral multiples …
− 1. The minimum volume bid for shall be one lot of 500 allowances.
+ **3.** Each bid may only be submitted, modified or withdrawn by a given deadline before the close of the bidding window. The auction platform concerned shall set and publish this deadline on its website at least five trading days prior to the opening of the bidding window.
− 2. Each bid shall state the following:
− 
− | (a) | the identity of the bidder and whether the bidder is bidding on its own account or on behalf of a client; |
− | --- | --- |
− 
− | (b) | where the bidder is bidding on behalf of a client, the identity of the client; |
− | --- | --- |
− 
− | (c) | the volume bid as a number of allowances in integral multiples of lots referred to in paragraph 1; |
− | --- | --- |
− | (d) | the price bid in euro for each allowance, rounded to two decimal points. |
− | --- | --- |
− 
− 3. Each bid may only be submitted, modified or withdrawn by a given deadline before the close of the bidding window. The auction platform concerned shall set and publish this deadline on its website at least five trading days prior to the opening of the bidding window.
− 
+ **4.** Where the relevant auction platform considers that a genuine mistake has been made in the submission of a bid, it may, upon request of the bidder’s representative, treat the mistakenly submitted bid as withdrawn after the close of the bidding window, but before the auction clearing price has …
− 4. Where the relevant auction platform considers that a genuine mistake has been made in the submission of a bid, it may, upon request of the bidder’s representative, treat the mistakenly submitted bid as withdrawn after the close of the bidding window, but before the auction clearing price has been…
+ **5.** The reception, transmission and submission of a bid by an investment firm or credit institution on any auction platform shall be deemed to constitute an investment service and activity within the meaning of Article 4(1), point (2), of Directive 2014/65/EU.
− 5. The reception, transmission and submission of a bid by an investment firm or credit institution on any auction platform shall be deemed to constitute an investment service and activity within the meaning of Article 4(1), point (2), of Directive 2014/65/EU.
+ ### Article 7 — Auction clearing price and resolution of tied bids
− ### art_7
+ **1.** The auction clearing price shall be determined upon closure of the bidding window.
− Article 7
− 1. The auction clearing price shall be determined upon closure of the bidding window.
− 
+ **2.** The volumes bid shall be added up, starting with the highest bid price. The price of the bid at which the sum of the volumes bid matches or exceeds the volume of allowances auctioned shall be the auction clearing price.
− 2. The volumes bid shall be added up, starting with the highest bid price. The price of the bid at which the sum of the volumes bid matches or exceeds the volume of allowances auctioned shall be the auction clearing price.
+ **3.** All bids making up the sum of the volumes bid determined pursuant to paragraph 2 shall be allocated at the auction clearing price.
− 3. All bids making up the sum of the volumes bid determined pursuant to paragraph 2 shall be allocated at the auction clearing price.
+ **4.** Where the total volume of successful bids determined pursuant to paragraph 2 exceeds the volume of auctioned allowances, the remaining volume of the auctioned allowances shall be allocated to the bidder that has submitted the last bid making up the sum of the volumes bid.
− 4. Where the total volume of successful bids determined pursuant to paragraph 2 exceeds the volume of auctioned allowances, the remaining volume of the auctioned allowances shall be allocated to the bidder that has submitted the last bid making up the sum of the volumes bid.
+ **5.** Where the total volume of bids sorted pursuant to paragraph 2 falls short of the volume of auctioned allowances, the auction platform shall cancel the auction.
− 5. Where the total volume of bids sorted pursuant to paragraph 2 falls short of the volume of auctioned allowances, the auction platform shall cancel the auction.
+ **6.** Where the auction clearing price is significantly under the price on the secondary market prevailing immediately before and during the bidding window when taking into account the short-term volatility of the price of allowances over a defined period preceding the auction, the auction platform…
− 6. Where the auction clearing price is significantly under the price on the secondary market prevailing immediately before and during the bidding window when taking into account the short-term volatility of the price of allowances over a defined period preceding the auction, the auction platform sha…
+ **7.** Before an auction is started, the auction platform shall determine the methodology for the application of paragraph 6, after having consulted the relevant contracting authorities referred to in Article 26(1) or Article 29(4), and notifying the competent national authorities referred to in Art…
− 7. Before an auction is started, the auction platform shall determine the methodology for the application of paragraph 6, after having consulted the relevant contracting authorities referred to in Article 26(1) or Article 29(4), and notifying the competent national authorities referred to in Article…
+ **8.** Paragraphs 6 and 7 shall not apply to the auctioning of allowances referred to in Article 13 for a period of 2 months starting from the first auction of those allowances.
− 8. Paragraphs 6 and 7 shall not apply to the auctioning of allowances referred to in Article 13 for a period of 2 months starting from the first auction of those allowances.
+ **9.** Where an auction of allowances referred to in Article 10 or 13 is cancelled, the volume of allowances shall be distributed evenly over the next four auctions scheduled on the same auction platform.
− 9. Where an auction of allowances referred to in Article 10 or 13 is cancelled, the volume of allowances shall be distributed evenly over the next four auctions scheduled on the same auction platform.
+ **10.** Where an auction of allowances covered by Article 11 is cancelled, the volume of allowances shall be distributed evenly over the next two auctions scheduled on the same auction platform.
− 10. Where an auction of allowances covered by Article 11 is cancelled, the volume of allowances shall be distributed evenly over the next two auctions scheduled on the same auction platform.
+ ## CHAPTER III — AUCTIONS CALENDARS
− ### art_8
+ ### Article 8 — Timing, frequency and distribution of the volume of allowances
− Article 8
+ **1.** An auction platform shall conduct auctions separately through its own regularly recurring bidding window.
− 1. An auction platform shall conduct auctions separately through its own regularly recurring bidding window.
+ **2.** The auction platform shall determine the dates and times of the auctions taking account of public holidays that affect international financial markets and any other relevant events or circumstances that might affect the proper conduct of the auctions. No auctions shall be held in the two week…
− 2. The auction platform shall determine the dates and times of the auctions taking account of public holidays that affect international financial markets and any other relevant events or circumstances that might affect the proper conduct of the auctions. No auctions shall be held in the two weeks ov…
+ **3.** In exceptional circumstances, any auction platform may, after having consulted the Commission, change the times of any bidding window by giving notice to all persons likely to be affected. The auction platform concerned shall take the utmost account of the Commission’s opinion on the change, …
− 3. In exceptional circumstances, any auction platform may, after having consulted the Commission, change the times of any bidding window by giving notice to all persons likely to be affected. The auction platform concerned shall take the utmost account of the Commission’s opinion on the change, wher…
+ **4.** The common auction platform shall conduct auctions of allowances referred to in Articles 10 and 13 at least on a weekly basis. The common auction platform shall conduct auctions of allowances referred to in Article 11 at least every two months. From 1 January 2025, provisions of this paragrap…
− 4. The common auction platform shall conduct auctions of allowances referred to in Articles 10 and 13 at least on a weekly basis. The common auction platform shall conduct auctions of allowances referred to in Article 11 at least every two months. From 1 January 2025, provisions of this paragraph ap…
+ Where the common auction platform conducts auctions of the allowances referred to in Articles 10 and 11 in one or two days a week, no opt-out auction platform shall conduct an auction on those days.
+ 
+ Where the common auction platform conducts auctions of the allowances referred to in Articles 10 and 11 on more than two days a week, it shall choose two days on which no opt-out auctions may take place. It shall publish those days no later than at the publication of the auction calendar as referred…
− Where the common auction platform conducts auctions in one or two days a week, no other auction platform shall conduct an auction on those days.
+ **5.** The volume of allowances referred to in Articles 10 and 11 to be auctioned on a common auction platform shall in principle be distributed evenly over the auctions held in a given calendar year.
− Where the common auction platform conducts auctions on more than two days a week, it shall choose two days on which no other auctions may take place. It shall publish those days no later than at the publication of the auction calendar as referred to in Article 12(2).
+ The volume of allowances referred to in Article 13 to be auctioned on a common auction platform shall in principle be distributed evenly over the auctions held in a given calendar year.
− 5. The volume of allowances referred to in Articles 10 and 11 to be auctioned on a common auction platform shall in principle be distributed evenly over the auctions held in a given calendar year.
+ By way of derogation from the second subparagraph, the volume of allowances referred to in Article 13 to be auctioned for the first year of auctioning in accordance with Article 30d(2) of Directive 2003/87/EC, shall be distributed in the period from 1 January 2027 up to 31 December 2028.
− The volume of allowances referred to in Article 13 to be auctioned on a common auction platform shall in principle be distributed evenly over the auctions held in a given calendar year, except for the additional volumes to be auctioned in accordance with Article 30d, point (2), of Directive 2003/87/…
+ ### Article 9 — Circumstances preventing the conduct of auctions
− ### art_9
− 
− Article 9
+ ### Article 10 — Annual volumes of auctioned allowances in respect of maritime transport activities and stationary installations
− ### art_10
+ **1.** The volume of allowances in respect of maritime transport activities referred to in Article 3ga of Directive 2003/87/EC and in respect of stationary installations falling within the scope of Chapter III of that Directive to be auctioned in any given calendar year shall be the volume of allowa…
− Article 10
+ **2.** The volume of allowances to be auctioned by each Member State in any given calendar year shall be based on the volume of allowances established pursuant to paragraph 1 of this Article and the share of allowances of that Member State determined pursuant to Article 3ga(3) and Article 10(2) of D…
− 1. The volume of allowances in respect of maritime transport activities referred to in Article 3ga of Directive 2003/87/EC and in respect of stationary installations falling within the scope of Chapter III of that Directive to be auctioned in any given calendar year shall be the volume of allowances…
+ **3.** The volume of allowances referred to in paragraphs 1 and 2 of this Article shall take into account changes pursuant to any of the following provisions:(a) Article 3gb, Article 10a(5a), Articles 10c and 10ca, Article 10d(4), Article 10e(3), Article 12(3-e) and (4), and Articles 24, 27, 27a and…
− 2. The volume of allowances to be auctioned by each Member State in any given calendar year shall be based on the volume of allowances established pursuant to paragraph 1 of this Article and the share of allowances of that Member State determined pursuant to Article 3ga(3) and Article 10(2) of Direc…
+ **4.** Any change to the volume of allowances to be auctioned in a given calendar year other than the changes referred to in Article 14 shall be accounted for in the volume of allowances to be auctioned in the subsequent calendar year.
− 3. The volume of allowances referred to in paragraphs 1 and 2 of this Article shall take into account changes pursuant to any of the following provisions:
− 
− | (a) | Article 3gb, Article 10a(5a), Articles 10c and 10ca, Article 10d(4), Article 10e(3), Article 12(3-e) and (4), and Articles 24, 27, 27a and 29a of Directive 2003/87/EC; |
− | --- | --- |
− 
− | (b) | Article 1 of Decision (EU) 2015/1814; |
− | --- | --- |
− 
− | (c) | Article 6 of Regulation (EU) 2018/842 of the European Parliament and of the Council (21). |
− | --- | --- |
− 
− 4. Any change to the volume of allowances to be auctioned in a given calendar year other than the changes referred to in Article 14 shall be accounted for in the volume of allowances to be auctioned in the subsequent calendar year.
+ **5.** The distribution of allowances pursuant to Article 10a(8) of Directive 2003/87/EC shall be determined taking into account the following:(a) the volume of allowances and the date when they are made available to the Innovation Fund pursuant to Article 9, fourth paragraph, Article 10a(1), (1a) a…
− 5. The distribution of allowances pursuant to Article 10a(8) of Directive 2003/87/EC shall be determined taking into account the following:
− 
− | (a) | the volume of allowances and the date when they are made available to the Innovation Fund pursuant to Article 9, fourth paragraph, Article 10a(1), (1a) and (5b), Article 10a(8), first, third and fourth subparagraphs, and Article 10e(4) of Directive 2003/87/EC; |
− | --- | --- |
− | (b) | the frontloading of allowances for the Innovation Fund pursuant to Article 10a(8), second subparagraph, of Directive 2003/87/EC; |
− | --- | --- |
− 
− | (c) | the volume of allowances to be auctioned for the Recovery and Resilience Facility pursuant to Article 10e(2) until 31 August 2026. |
− | --- | --- |
− 
+ **6.** The initial annual volume of allowances to be auctioned pursuant to Article 10e(2) and (3) of Directive 2003/87/EC shall be as follows:(a) for 2024: 86 685 000 allowances;(b) for 2025: 86 685 000 allowances;(c) for 2026: 58 000 000 allowances.
− 6. The initial annual volume of allowances to be auctioned pursuant to Article 10e(2) and (3) of Directive 2003/87/EC shall be as follows:
− 
− | (a) | for 2024: 86 685 000 allowances; |
− | --- | --- |
− 
− | (b) | for 2025: 86 685 000 allowances; |
− | --- | --- |
− 
− | (c) | for 2026: 58 000 000 allowances. |
− | --- | --- |
+ ### Article 11 — Annual volumes of auctioned allowances in respect of aviation
− ### art_11
+ **1.** The volume of allowances in respect of aviation activities referred to in Article 3b of Directive 2003/87/EC to be auctioned each calendar year shall be the volume of allowances established in accordance with Articles 3c and 3d of that Directive.
− Article 11
+ **2.** The volume of allowances to be auctioned by each Member State in any given calendar year shall be based on the volume of allowances established pursuant to paragraph 1 of this Article and the share of allowances of that Member State determined pursuant to Article 3d(3) of Directive 2003/87/EC…
− 1. The volume of allowances in respect of aviation activities referred to in Article 3b of Directive 2003/87/EC to be auctioned each calendar year shall be the volume of allowances established in accordance with Articles 3c and 3d of that Directive.
+ **3.** Any change to the volume of allowances to be auctioned in a given calendar year other than the changes referred to in Article 14 shall be accounted for in the volume of allowances to be auctioned in the subsequent calendar year.
− 2. The volume of allowances to be auctioned by each Member State in any given calendar year shall be based on the volume of allowances established pursuant to paragraph 1 of this Article and the share of allowances of that Member State determined pursuant to Article 3d(3) of Directive 2003/87/EC.
+ **4.** Any volume of allowances that cannot be auctioned in a given calendar year due to the rounding required by Article 6(1) shall be accounted for in the volume of allowances to be auctioned in the subsequent calendar year.
− 3. Any change to the volume of allowances to be auctioned in a given calendar year other than the changes referred to in Article 14 shall be accounted for in the volume of allowances to be auctioned in the subsequent calendar year.
+ ### Article 12 — Auction calendar for individual auctions of allowances referred to in Articles 10 and 11 auctioned by the common auction platform
− 4. Any volume of allowances that cannot be auctioned in a given calendar year due to the rounding required by Article 6(1) shall be accounted for in the volume of allowances to be auctioned in the subsequent calendar year.
+ **1.** The common auction platform shall, after consulting the Commission, determine the auction calendars, including the bidding windows, the individual auction volumes, the auction dates, the auctioned product and the payment and delivery dates for the allowances referred to in Articles 10 and 11 …
− ### art_12
+ **2.** The common auction platform shall publish the auction calendar for a given calendar year by 31 July of the previous calendar year with regard to allowances referred to in Articles 10 and Article 11 of this Regulation, or as soon as practicable thereafter, provided that the Commission has inst…
− Article 12
+ **3.** The auction calendars for allowances referred to in Articles 10 and 11 shall be determined and published separately. From 1 January 2025, the common auction platform shall determine and publish joint auction calendars for allowances referred in Articles 10 and 11 in accordance with Delegated …
− 1. The common auction platform shall, after consulting the Commission, determine the auction calendars, including the bidding windows, the individual auction volumes, the auction dates, the auctioned product and the payment and delivery dates for the allowances referred to in Articles 10 and 11 to b…
+ ### Article 13 — Annual volumes and calendars for individual auctions of allowances in respect of buildings, road transport and additional sectors
− 2. The common auction platform shall publish the auction calendar for a given calendar year by 31 July of the previous calendar year with regard to allowances referred to in Articles 10 and Article 11 of this Regulation, or as soon as practicable thereafter, provided that the Commission has instruct…
+ **1.** The volume of allowances referred to in Article 30a of Directive 2003/87/EC to be auctioned for any given calendar year shall be the volume of allowances established in accordance with Articles 30c and 30d of that Directive.
− 3. The auction calendars for allowances referred to in Articles 10 and 11 shall be determined and published separately. From 1 January 2025, the common auction platform shall determine and publish joint auction calendars for allowances referred in Articles 10 and 11 in accordance with Delegated Regu…
+ **2.** The volume of allowances to be auctioned by each Member State for any given calendar year shall be based on the volume of allowances established pursuant to paragraph 1 of this Article and the share of allowances of that Member State determined pursuant to Article 30d(5) of Directive 2003/87/…
− ### art_13
+ **3.** The volume of allowances referred to in paragraphs 1 and 2 of this Article shall take into account changes pursuant to Article 30e(3) or Articles 30h and 30j of Directive 2003/87/EC or pursuant to Article 1a of Decision (EU) 2015/1814.
− Article 13
+ **4.** The common auction platform shall, after having consulted the Commission, determine the auction calendars, including the bidding windows, the individual auction volumes, the auction dates, the auctioned product, and the payment and delivery dates for the allowances to be auctioned each calend…
− 1. The volume of allowances referred to in Article 30a of Directive 2003/87/EC to be auctioned in any given calendar year from 2027 shall be the volume of allowances established in accordance with Articles 30c and 30d of that Directive.
+ **5.** The annual auction volumes of allowances referred to in Article 30d(3) and (4) of Directive 2003/87/EC shall be auctioned together with the respective annual volumes of allowances referred to in paragraph 1 of this Article. The initial volume of allowances to be auctioned from 1 January 2027 …
− 2. The volume of allowances to be auctioned by each Member State in any given calendar year shall be based on the volume of allowances established pursuant to paragraph 1 of this Article and the share of allowances of that Member State determined pursuant to Article 30d(5) of Directive 2003/87/EC.
+ **6.** The annual volume of allowances to be auctioned to reach the revenue referred to in Article 30d(4) of Directive 2003/87/EC may be adjusted to ensure that the objectives set out in Article 30d of that Directive are met. For the purposes of that adjustment, the revenue already obtained, the ave…
− 3. The volume of allowances referred to in paragraphs 1 and 2 of this Article shall take into account changes pursuant to Article 30e(3) or Articles 30h and 30j of Directive 2003/87/EC or pursuant to Article 1a of Decision (EU) 2015/1814.
+ If the auction revenue referred to in Article 30d of Directive 2003/87/EC is reached before the date of the last auction scheduled for the Social Climate Fund, the subsequent auctions of allowances for that Fund shall be suspended in line with the relevant provisions for suspension of such auctions …
− 4. The common auction platform shall, after having consulted the Commission, determine the auction calendars, including the bidding windows, the individual auction volumes, the auction dates, the auctioned product, and the payment and delivery dates for the allowances to be auctioned each calendar y…
+ **7.** The volume of allowances to be auctioned on behalf of a Member State pursuant to paragraph 2 of this Article shall only be auctioned once that Member State has implemented national legislation on the obligation of regulated entities to surrender the amount of allowances set out in Article 30e…
− 5. The annual auction volumes of allowances referred to in Article 30d(3) and (4) of Directive 2003/87/EC shall be auctioned together with the respective annual volumes of allowances referred to in paragraph 1 of this Article before 31 August each year. The initial annual volume of allowances to be …
+ Once the legislation referred to in the first subparagraph has been implemented, the volume of allowances referred to in the first subparagraph which was withheld for the period between the year from when emissions are subject to such legislation and the date of application of that legislation shall…
− 6. Where 75 % of the maximum annual amount of revenue referred to in Article 30d(4) of Directive 2003/87/EC is not generated by 30 June of any given year, the initial annual volume of allowances to be auctioned for the Social Climate Fund shall be increased for the period from September to December …
+ Where the volumes of allowances referred to in the second subparagraph is added back to the auction volumes, it shall be distributed over a period of time equivalent to the period of time during which those allowances were not auctioned.
− If the maximum annual amount of revenue is reached earlier than initially foreseen in the auction calendar, the subsequent auctions of allowances for the Social Climate Fund shall be immediately suspended in line with the relevant provisions for suspension of such auctions set out in Delegated Regul…
+ ### Article 14 — Adjustments of auction calendars and of the volume of allowances to be auctioned
− In both cases, the auction calendar shall be adjusted accordingly without undue delay in accordance with Article 14(1), to either increase the number of allowances auctioned for the Social Climate Fund for the period from September to December or to auction any excess volume on behalf of the Member …
+ **1.** The determinations and publications of the annual volumes to be auctioned and of the bidding windows, the distribution of allowances, dates, auctioned product, payment and delivery dates in connection with individual auctions pursuant to Articles 10, 11 and 13 and Article 31(3) shall not be m…
− ### art_14
+ **2.** The auction platforms concerned shall publish the adjusted auction calendars 4 weeks prior to their date of application, or as soon as practicable thereafter. This requirement shall not apply to adjustments referred to in paragraph 1, points (a) to (e).
− Article 14
+ ## CHAPTER IV — ACCESS TO AUCTIONS
− 1. The determinations and publications of the annual volumes to be auctioned and of the bidding windows, the distribution of allowances, dates, auctioned product, payment and delivery dates in connection with individual auctions pursuant to Articles 10, 11 and 13 and Article 31(3) shall not be modif…
+ ### Article 15 — Persons who may submit bids directly in an auction
− | (a) | the cancellation of an auction pursuant to Article 7(5) and (6), Article 9 and Article 31(4); |
− | --- | --- |
− 
− | (b) | the suspension of an opt-out platform that is provided for in Delegated Regulation (EU) 2019/1122; |
− | --- | --- |
− 
− | (c) | a decision by a Member State pursuant to Article 29(7); |
− | --- | --- |
− 
− | (d) | a settlement failure referred to in Article 36(5); |
− | --- | --- |
− 
− | (e) | the suspension of a process provided for in Delegated Regulation (EU) 2019/1122 that impacts the auction calendars; |
− | --- | --- |
− | (f) | allowances remaining in the reserve for new entrants provided for in Article 10a(7) of Directive 2003/87/EC and allowances not allocated pursuant to Article 10c and Article 10ca of that Directive; |
− | --- | --- |
− 
− | (g) | a unilateral inclusion of additional activities, greenhouse gases or sectors pursuant to Article 24 or Article 30j of Directive 2003/87/EC; |
− | --- | --- |
− 
− | (h) | a measure adopted pursuant to Article 29a or Article 30h of Directive 2003/87/EC; |
− | --- | --- |
− 
− | (i) | the entry into force of amendments to this Regulation or to Directive 2003/87/EC; |
− | --- | --- |
− 
− | (j) | withholding of allowances from the auctions pursuant to Article 22(4); |
− | --- | --- |
− 
− | (k) | the necessity for an auction platform to avoid conducting an auction in breach of provisions laid down in this Regulation or in Directive 2003/87/EC; |
− | --- | --- |
− 
− | (l) | adjustments necessary pursuant to Articles 1 and 1a of Decision (EU) 2015/1814; |
− | --- | --- |
− 
− | (m) | a cancellation of allowances pursuant to Article 12(4) of Directive 2003/87/EC; |
− | --- | --- |
− 
− | (n) | adjustments necessary pursuant to Article 10a(9) of Directive 2003/87/EC; |
− | --- | --- |
− 
− | (o) | adjustments necessary pursuant to Article 10e of Directive 2003/87/EC; |
− | --- | --- |
− 
− | (p) | adjustments necessary pursuant to Article 30d or Article 30e(3) of Directive 2003/87/EC. |
− | --- | --- |
− 
− 2. The auction platforms concerned shall publish the adjusted auction calendars 4 weeks prior to their date of application, or as soon as practicable thereafter. This requirement shall not apply to adjustments referred to in paragraph 1, points (a) to (e).
− 
− ### art_15
− 
− Article 15
− 
+ ### Article 16 — Means of access
− ### art_16
+ **1.** An auction platform shall provide for the means of accessing its auctions on a non-discriminatory basis.
− Article 16
− 
− 1. An auction platform shall provide for the means of accessing its auctions on a non-discriminatory basis.
+ **2.** Admission to the auctions shall not depend on membership or a participation in the secondary market organised by the auction platform or any other trading place operated by the auction platform or by a third party.
− 2. Admission to the auctions shall not depend on membership or a participation in the secondary market organised by the auction platform or any other trading place operated by the auction platform or by a third party.
+ **3.** An auction platform shall ensure that its auctions can be accessed remotely by means of a web-based electronic interface accessible in a secure and reliable manner. It may also offer bidders the option of accessing its auctions through dedicated connections to the electronic interface.
− 3. An auction platform shall ensure that its auctions can be accessed remotely by means of a web-based electronic interface accessible in a secure and reliable manner. It may also offer bidders the option of accessing its auctions through dedicated connections to the electronic interface.
+ **4.** In the event that the main means of access becomes inaccessible, an auction platform may offer on its own initiative or at the request of Member States, one or more alternative means of access to its auctions, provided that such alternative means of access are secure and reliable and their us…
− 4. In the event that the main means of access becomes inaccessible, an auction platform may offer on its own initiative or at the request of Member States, one or more alternative means of access to its auctions, provided that such alternative means of access are secure and reliable and their use do…
+ ### Article 17 — Training and helpline
− ### art_17
− Article 17
− 
+ ### Article 18 — Persons eligible to apply for admission to bid
− ### art_18
+ **1.** The following persons shall be eligible to apply for admission to bid directly in auctions:(a) an operator, an aircraft operator, a shipping company or a regulated entity having an operator account in the Union Registry which is opened in accordance with Delegated Regulation (EU) 2019/1122, b…
− Article 18
− 
− 1. The following persons shall be eligible to apply for admission to bid directly in auctions:
− 
− | (a) | an operator, an aircraft operator, a shipping company or a regulated entity having an operator account in the Union Registry which is opened in accordance with Delegated Regulation (EU) 2019/1122, bidding on its own account, including any parent undertaking, subsidiary undertaking or affilia…
− | --- | --- |
− 
− | (b) | investment firms authorised under Directive 2014/65/EU bidding on their own account or on behalf of their clients; |
− | --- | --- |
− 
− | (c) | credit institutions authorised under Directive 2013/36/EU of the European Parliament and of the Council (22) bidding on their own account or on behalf of their clients; |
− | --- | --- |
− 
− | (d) | business groupings of persons listed in point (a) bidding on their own account and acting as an agent on behalf of their members; |
− | --- | --- |
− 
− | (e) | public bodies or state-owned entities of the Member States that control any of the persons listed in point (a). |
− | --- | --- |
− 
− 2. By way of derogation from paragraph 1, persons covered by the exemption in Article 2(1), point (j), of Directive 2014/65/EU and authorised pursuant to Article 50 of this Regulation shall be eligible to apply for admission to bid directly in the auctions either on their own account or on behalf of…
+ **2.** By way of derogation from paragraph 1, persons covered by the exemption in Article 2(1), point (j), of Directive 2014/65/EU shall be eligible to apply for admission to bid directly in the auctions either on their own account or on behalf of clients of their main business.
− 3. Where the persons referred to in paragraph 1, points (b) and (c), and paragraph 2 bid on behalf of their clients, they shall ensure that all the following conditions are fulfilled:
+ **3.** Where the persons referred to in paragraph 1, points (b) and (c), and paragraph 2 bid on behalf of their clients, they shall ensure that all the following conditions are fulfilled:(a) their clients are eligible persons to apply for admission to bid directly pursuant to paragraphs 1 or 2;(b) t…
− | (a) | their clients are eligible persons to apply for admission to bid directly pursuant to paragraphs 1 or 2; |
− | --- | --- |
− 
− | (b) | they have, or will have in good time before the opening of the bidding window, adequate internal processes, procedures and contractual agreements necessary to:(i)enable them to process bids from their clients including submission of bids, collection of payment and transfer of allowances;(ii)…
− | --- | --- |
− | (i) | enable them to process bids from their clients including submission of bids, collection of payment and transfer of allowances; |
− | (ii) | prevent the disclosure of confidential information from the part of their business that is responsible for receiving, preparing and submitting bids on behalf of their clients to the part of their business that is responsible for preparing and submitting bids on their own account; |
− | (iii) | ensure that their clients who are themselves bidding on behalf of their own clients in the auctions comply with the requirements set out in Article 19(2) and in this paragraph and that they require the same of their clients. Where there are further clients down the chain that are themselve…
+ **4.** The following persons shall not be eligible to apply for admission to bid directly in auctions nor shall they participate in auctions through one or more persons admitted to bid pursuant to Articles 19 and 20, whether for their own account or on behalf of any other person, where they act with…
− 4. The following persons shall not be eligible to apply for admission to bid directly in auctions nor shall they participate in auctions through one or more persons admitted to bid pursuant to Articles 19 and 20, whether for their own account or on behalf of any other person, where they act with res…
+ ### Article 19 — Requirements for admission to bid
− | (a) | the auctioneer; |
− | --- | --- |
+ **1.** Members of or participants in the secondary market organised by an auction platform that are persons referred to in Article 18(1) or (2) shall be admitted to bid directly in the auctions conducted by the auction platform concerned without any further admission requirements, provided that all …
− | (b) | the auction platform including any clearing system and any settlement system connected to it; |
− | --- | --- |
+ **2.** Persons who are not members of or participants in the secondary market organised by an auction platform, and who are eligible persons pursuant to Article 18(1) or (2) shall be admitted to bid directly in the auctions conducted by an auction platform provided that they:(a) are established in t…
− | (c) | persons who are in a position to exercise, directly or indirectly, significant influence over the management of the persons referred to in points (a) and (b); |
− | --- | --- |
+ ### Article 20 — Submission and processing of applications for admission to bid
− | (d) | persons working for persons referred to in points (a) and (b). |
− | --- | --- |
− 
− ### art_19
+ **1.** Before submitting their first bid directly through any auction platform, persons referred to in Article 18(1) or (2) shall apply to the auction platform concerned for admission to bid.
− Article 19
− 
− 1. Members of or participants in the secondary market organised by an auction platform that are persons referred to in Article 18(1) or (2) shall be admitted to bid directly in the auctions conducted by the auction platform concerned without any further admission requirements, provided that all the …
− 
− | (a) | the requirements for admission of the member or participant to trade allowances on the secondary market organised by the auction platform are no less stringent than those set out in paragraph 2; |
− | --- | --- |
− 
− | (b) | the auction platform receives any additional information necessary to verify the fulfilment of any requirements referred to in paragraph 2 that have not been previously verified. |
− | --- | --- |
− 
− 2. Persons who are not members of or participants in the secondary market organised by an auction platform, and who are eligible persons pursuant to Article 18(1) or (2) shall be admitted to bid directly in the auctions conducted by an auction platform provided that they:
− 
− | (a) | are established in the Union, or are an operator, an aircraft operator, a shipping company or a regulated entity; |
− | --- | --- |
− 
− | (b) | hold a nominated Union Registry account; |
− | --- | --- |
− 
− | (c) | hold a nominated bank account; |
− | --- | --- |
− 
− | (d) | appoint at least one bidder’s representative as referred to in Article 6(3), second subparagraph; |
− | --- | --- |
− | (e) | satisfy the auction platform concerned, in line with applicable customer due diligence measures, as to their identity, the identity of their beneficial owners, integrity, business and trading profile having regard to the means of establishing the relationship with the bidder, the type of bid…
− | --- | --- |
− 
− | (f) | satisfy the auction platform concerned of their financial standing, in particular, that they are able to meet their financial commitments and current liabilities as they fall due; |
− | --- | --- |
− 
− | (g) | have in place, or are able to put in place when requested, the internal processes, procedures and contractual agreements necessary to give effect to a maximum bid-size imposed pursuant to Article 48; |
− | --- | --- |
− 
− | (h) | fulfil the requirements set out in Article 40(1). |
− | --- | --- |
− 
− ### art_20
− 
− Article 20
− 
− 1. Before submitting their first bid directly through any auction platform, persons referred to in Article 18(1) or (2) shall apply to the auction platform concerned for admission to bid.
− 
+ **2.** An application for admission to bid made under paragraph 1 shall be made by submitting a completed application form to the auction platform. The application form, and access to it through the internet, shall be provided and maintained by the auction platform concerned.
− 2. An application for admission to bid made under paragraph 1 shall be made by submitting a completed application form to the auction platform. The application form, and access to it through the internet, shall be provided and maintained by the auction platform concerned.
+ **3.** An application for admission to bid shall be accompanied by duly certified copies of all supporting documents required by the auction platform to show that the applicant satisfies the requirements set out in Article 18(3) and in Article 19(2). The auction platform may accept copies of documen…
− 3. An application for admission to bid shall be accompanied by duly certified copies of all supporting documents required by the auction platform to show that the applicant satisfies the requirements set out in Article 18(3) and in Article 19(2). The auction platform may accept copies of documents t…
− 
− 4. An application for admission to bid, including any supporting documents, shall be made available, upon request, for inspection by the competent national law enforcement authorities of a Member State conducting an investigation referred to in Article 53(3), point (e), and any competent Union bodie…
… diff truncated at 500 changed lines …