REGISTRIES. 1. The registries of the Parties shall meet the criteria set out in Annex I, Part C. 2. To operationalise the link between the EU ETS and the ETS of Switzerland, a direct link between the European Union Transaction Log (EUTL) of the Union registry and the Swiss Supplementary Transaction Log (SSTL) of the Swiss registry shall be established, which will enable the registry-to-registry transfer of emission allowances issued under either ETS. 3. The registry link shall, inter alia: (a) be administered for Switzerland by the Swiss registry administrator and for the Union by the Union central administrator, (b) operate in accordance with the applicable laws in each jurisdiction, (c) be supported by automated processes integrated into both the Swiss registry and the Union registry to enable transactions, (d) be implemented so as to ensure, to the extent possible, consistent functionality for users of the Swiss registry and the Union registry. 4. The Swiss registry administrator, the Union central administrator or both administrators jointly may temporarily close the registry link for system maintenance, security breach or security risk in accordance with the applicable Swiss and European Union legislations. The Parties shall give notice as early as possible of a temporary closure of the registry link for system maintenance, security breach or security risk and shall make the temporary closure as brief as possible. 5. The Parties shall act promptly and in close cooperation using measures available in their respective jurisdictions to prevent fraud and to preserve market integrity of the linked ETS. In the context of the linked ETS, the Swiss registry administrator, the Union central administrator and national administrators from Member States of the Union shall work together to minimise the risk of fraud, misuse or criminal activity involving the registries, to respond to such incidents, and to protect the integrity of the registry link. Measures agreed by the administrators to address the risk of fraud, misuse or criminal activity shall be adopted by decision of the Joint Committee. 6. The Swiss registry administrator and the Union central adminis trator shall determine common operational procedures (COP) related to technical or other matters necessary for the operation of the linking and taking into account the priorities of domestic legislation. The COP developed by the administrators shall take effect when adopted by decision of the Joint Committee. 7. The Swiss registry administrator and the Union central adminis trator shall develop Linking Technical Standards (LTS) based on the principles set out in Annex II, describing the detailed requirements for establishing a robust and secure connection between the SSTL and the EUTL. The LTS developed by the administrators shall take effect when adopted by decision of the Joint Committee. 8. Issues requiring resolution arising out of the implementation and operation of the registry link shall be resolved through timely consul tation by the Swiss registry administrator and the Union central admin istrator and in accordance with the determined COP.
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Samples: Agreement Between the European Union and the Swiss Confederation on the Linking of Their Greenhouse Gas Emissions Trading Systems, Agreement Between the European Union and the Swiss Confederation on the Linking of Their Greenhouse Gas Emissions Trading Systems, Agreement Between the European Union and the Swiss Confederation on the Linking of Their Greenhouse Gas Emissions Trading Systems
REGISTRIES. 1. The registries of the Parties shall meet the criteria set out in Annex I, Part C.
2. To operationalise the link between the EU ETS and the ETS of Switzerland, a direct link between the European Union Transaction Log (EUTL) of the Union registry and the Swiss Supplementary Transaction Log (SSTL) of the Swiss registry shall be established, which will enable the registry-to-registry transfer of emission allowances issued under either ETS.
3. The registry link shall, inter alia:
(a) be administered for Switzerland by the Swiss registry administrator and for the Union by the Union central administratoradminis trator,
(b) operate in accordance with the applicable laws in each jurisdiction,
(c) be supported by automated processes integrated into both the Swiss registry and the Union registry to enable transactions,
(d) be implemented so as to ensure, to the extent possible, consistent functionality for users of the Swiss registry and the Union registry.
4. The Swiss registry administrator, the Union central administrator or both administrators jointly may temporarily close the registry link for system maintenance, security breach or security risk in accordance with the applicable Swiss and European Union legislations. The Parties shall give notice as early as possible of a temporary closure of the registry link for system maintenance, security breach or security risk and shall make the temporary closure as brief as possible.
5. The Parties shall act promptly and in close cooperation using measures available in their respective jurisdictions to prevent fraud and to preserve market integrity of the linked ETS. In the context of the linked ETS, the Swiss registry administrator, the Union central administrator and national administrators from Member States of the Union shall work together to minimise the risk of fraud, misuse or criminal activity involving the registries, to respond to such incidents, and to protect the integrity of the registry link. Measures agreed by the administrators to address the risk of fraud, misuse or criminal activity shall be adopted by decision of the Joint Committee.
6. The Swiss registry administrator and the Union central adminis trator administrator shall determine common operational procedures (COP) related to technical or other matters necessary for the operation of the linking and taking into account the priorities of domestic legislation. The COP developed by the administrators shall take effect when adopted by decision of the Joint Committee.
7. The Swiss registry administrator and the Union central adminis trator administrator shall develop Linking Technical Standards (LTS) based on the principles set out in Annex II, describing the detailed requirements for establishing a robust and secure connection between the SSTL and the EUTL. The LTS developed by the administrators shall take effect when adopted by decision of the Joint Committee.
8. Issues requiring resolution arising out of the implementation and operation of the registry link shall be resolved through timely consul tation consultation by the Swiss registry administrator and the Union central admin istrator administrator and in accordance with the determined COP.
Appears in 2 contracts
Samples: Agreement on the Linking of Greenhouse Gas Emissions Trading Systems, Agreement on the Linking of Greenhouse Gas Emissions Trading Systems
REGISTRIES. 1. The registries of the Parties shall meet the criteria set out in Annex I, Part C.
2. To operationalise the link between the EU ETS and the ETS of Switzerland, a direct link between the European Union Transaction Log (EUTL) of the Union registry and the Swiss Supplementary Transaction Log (SSTL) of the Swiss registry shall be established, which will enable the registry-to-registry transfer of emission allowances issued under either ETS.
3. The registry link shall, inter alia:
(a) be administered for Switzerland by the Swiss registry administrator and for the Union by the Union central administrator,
(b) operate in accordance with the applicable laws in each jurisdiction,
(c) be supported by automated processes integrated into both the Swiss registry and the Union registry to enable transactions,
(d) be implemented so as to ensure, to the extent possible, consistent functionality for users of the Swiss registry and the Union registry.
4. The Swiss registry administrator, the Union central administrator or both administrators jointly may temporarily close the registry link for system maintenance, security breach or security risk in accordance with the applicable Swiss and European Union legislations. The Parties shall give notice as early as possible of a temporary closure of the registry link for system maintenance, security breach or security risk and shall make the temporary closure as brief as possible.
5. The Parties shall act promptly and in close cooperation using measures available in their respective jurisdictions to prevent fraud and to preserve market integrity of the linked ETS. In the context of the linked ETS, the Swiss registry administrator, the Union central administrator and national administrators from Member States of the Union shall work together to minimise the risk of fraud, misuse or criminal activity involving the registries, to respond to such incidents, and to protect the integrity of the registry link. Measures agreed by the administrators to address the risk of fraud, misuse or criminal activity shall be adopted by decision of the Joint Committee.
6. The Swiss registry administrator and the Union central adminis trator administrator shall determine common operational procedures (COP) related to technical or other matters necessary for the operation of the linking and taking into account the priorities of domestic legislation. The COP developed by the administrators shall take effect when adopted by decision of the Joint Committee.
7. The Swiss registry administrator and the Union central adminis trator administrator shall develop Linking Technical Standards (LTS) based on the principles set out in Annex II, describing the detailed requirements for establishing a robust and secure connection between the SSTL and the EUTL. The LTS developed by the administrators shall take effect when adopted by decision of the Joint Committee.
8. Issues requiring resolution arising out of the implementation and operation of the registry link shall be resolved through timely consul tation consultation by the Swiss registry administrator and the Union central admin istrator administrator and in accordance with the determined COP.
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