S.L. 643.5 Art. 2Interpretation. Cap. 643. 2 [S.L. 3  Cap. 382.  Cap. 382. 4 [S.L.  Cap. 382.   Cap. 460.

For the purposes of these regulations and unless the context otherwise requires:

"account holder" means a natural or legal person that holds an account in the Union registry;

"Act" means the Climate Action Act;

"allowance" means an allowance to emit one (1) tonne of carbon dioxide equivalent during a specific period, which shall be valid for the purposes of meeting the requirements of these regulations and shall be transferable in accordance with the provisions of these regulations;

"auctioneer" means the Debt Management Directorate within the Treasury Department appointed by the Government to auction allowances on its behalf;

"authorised representatives" means the representatives, nominated by an account holder in respect of an account in the Union registry, to have access to that account and undertake processes relating to that account on behalf of the account holder;

"Authority" means the Climate Action Authority established by article 9 of the Act;

"cancellation" means the definitive disposal of an TRADING SYSTEM FOR BUILDINGS, ROAD TRANSPORT 643.05 AND ADDITIONAL SECTORS

allowance by its holder or by the national registry administrator, as may be applicable;

"combustion" means any oxidation of fuels, regardless of the way the heat, electrical or mechanical energy produced by this process is used;

"Commission" means the European Commission;

"confidential information" means any non-public information deemed to be sensitive by the regulated entity and, or, any privileged information falling within the scope of these regulations, disclosed only for promoting and elaborating certain purposes. It shall include, inter alia:

(a) trade secrets;

(b) any other information having a commercial value that would be, or could reasonably be expected to be, destroyed or diminished if the information were disclosed; or,

(c) information other than trade secrets or information under paragraph (b) concerning a person, organisation or undertaking in respect of their business, professional, commercial or financial affairs;

"Decision (EU) 2015/1814" means Decision (EU) 2015/ 1814 of the European Parliament and of the Council of 6 October 2015 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading scheme and amending Directive 2003/87/EC;

"deviation" means, in respect of monitoring of annual emissions, the use of a monitoring approach that is different, in full or in part, from the approved monitoring and reporting plan, which use is of a temporary nature;

"Directive 2003/87/EC" means Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a system for greenhouse gas emission allowance trading within the Union and amending Council Directive 96/ 61/EC;

"Directive (EU) 2023/959" means Directive (EU) 2023/ 959 of the European Parliament and of the Council of 10 May 2023 amending Directive 2003/87/EC establishing a system for greenhouse gas emission allowance trading within the Union and Decision (EU) 2015/1814 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emissions trading scheme;

"emissions" means the release of greenhouse gases specified in respect of the activity listed in Schedule 1;

"EU ETS" means the European Union Emissions Trading System established by Directive 2003/87/EC;

"fuel" means any energy product referred to in the Fourth

Schedule to the Excise Duty Act, including the fuels listed in the said Schedule, as well as any other product intended for use, offered for sale or used as motor fuel or heating fuel as specified in the said Schedule, including for the production of electricity;

"greenhouse gases" means the gases listed in Schedule 2 and other gaseous constituents of the atmosphere, both natural and anthropogenic, that absorb and re-emit infrared radiation;

"greenhouse gas emissions permit" means the permit issued pursuant to regulation 6;

"person" means any natural or legal person;

"the public" means one or more persons, associations, organisations or groups of persons;

"regulated entity" means any natural or legal person, except for any final consumer of the fuels, that engages in the activity listed to in Schedule 1 and that falls within one of the following categories:

(a) where the fuel passes through an authorised tax warehouse as defined in article 2 of the Excise Duty Act, the authorised tax warehouse keeper as defined in article 2 of the Excise Duty Act, liable to pay the excise duty which has become chargeable pursuant to article 8 of the Excise Duty Act;

(b) if paragraph (a) is not applicable, any other person liable to pay the excise duty which has become chargeable pursuant to article 8 of the Excise Duty Act or the first subparagraph of Article 21(5) of Council Directive 2003/96/EC in respect of the fuels covered by Chapter IVa of Directive 2003/87/EC;

(c) if paragraphs (a) and (b) are not applicable, any other person that has to be registered by the Commissioner for Revenue for the purpose of being TRADING SYSTEM FOR BUILDINGS, ROAD TRANSPORT 643.05 AND ADDITIONAL SECTORS

liable to pay the excise duty, including any person exempt from paying the excise duty, as referred to in the fourth subparagraph of Article 21(5) of Directive 2003/ 96/EC; and

(d) if paragraphs (a), (b) and (c) are not applicable, or if several persons are jointly and severally liable for payment of the same excise duty, any other person designated by the Commissioner for Revenue;

"release for consumption" means release for consumption as defined in article 2 of the Excise Duty Act;

"surrender" means the accounting of an allowance by a regulated entity against the verified emissions of the regulated entity;

"tonne of carbon dioxide equivalent" means one (1) metric tonne of carbon dioxide (CO2) or an amount of any other greenhouse gas listed in Schedule 2 with an equivalent global-warming potential;

"Union" and "European Union" shall have the same meaning as assigned to “the European Union” in the European

Union Act;

"Union registry" means the registry established and maintained in accordance with Article 19 of Directive 2003/87/ EC for the execution of processes pertaining to the maintenance of holding accounts and the allocation, surrender and cancellation of allowances;

"verifier" means a legal person or another legal entity carrying out verification activities pursuant to these regulations and accredited by a national accreditation body pursuant to Regulation (EC) No 765/2008 of the European Parliament and of the Council of 9 July 2008 setting out the requirements for accreditation and market surveillance relating to the marketing of products and repealing Regulation (EEC) No 339/93 and relevant decisions and regulations adopted by the Commission pursuant to Directive 2003/87/EC, or natural person otherwise authorised, without prejudice to Article 5(2) of Regulation (EC) 765/2008, at the time a verification report is issued.