5 Dec 2024 22:09:02
Approved Counterparty means:
Approved User means an individual User of the Website who has been approved by the Operator to make Bids and Offers on the Carbon Match Platform either as, or on behalf of an NZEUR Account Holder;
Bid means an offer to buy Units;
Business Day means any day other than a Saturday, Sunday, a statutory public holiday, or a day on which banks are shut in Wellington;
Buyer means the Participant Account Holder identified as such in the Carbon Match Confirmation;
Carbon Match Confirmation means the confirmation of a Match sent by email to the Seller's and the Buyer's Notice Addresses by the Operator promptly after a Match is effected;
Carbon Match Market means the market for Matching Offers and Bids posted on the Carbon Match Platform;
Carbon Match Platform means the online trading facility located on the Website on which Offers and Bids may be posted and Matched;
CCRA means the Climate Change Response Act 2002 and related regulations as amended from time to time;
Green List Mechanism means the mechanism on the Carbon Match Platform which allows a Participant Account Holder to select those on the Approved Participant List with whom it is prepared to enter into Transactions;
Green Listed Participant means an NZEUR Account Holder on the Approved Participant List selected by a Participant Account Holder using the Green List Mechanism;
Market Rules means these Market Rules that govern the operation of the Carbon Match Market, located on the Carbon Match Website;
Market Trading Hour means the period between 10am and 5pm of each Business Day (it being recognised, however that at the absolute discretion of the Operator, this period may commence and/or end no more than one minute earlier or later than these specified times);
Match means the match or partial match of a Bid with one or more Offers, or of an Offer with one or more Bids, for a particular type of Unit with the same settlement date effected by means of the Carbon Match Platform in the manner outlined in clause 5 of these Market Rules;
Match Fee means:
Notice Address means the e-mail address specified by an Approved User to be used for all communication with the corresponding Participant Account Holder;
NZETS means the New Zealand Emissions Trading Scheme;
NZEUR Account Holder means a person or organisation that has registered as either a mandatory or voluntary participant in the NZETS;
NZEUR Holding Account means the New Zealand Emission Unit Register account in which Units may be held;
Offer means an offer to sell Units;
Operator means Carbon Match Limited or any successor operator of the Website and the Carbon Match Platform;
Participant Account Holder means:
Red List Mechanism means the mechanism on the Carbon Match Platform which allows a Participant Account Holder to select those on the Approved Participant List with whom it is not prepared to enter into Transactions;
Red Listed Participant means an NZEUR Account Holder on the Approved Participant List selected using the Red List Mechanism;
Seller means the Participant Account Holder identified as such in the Carbon Match Confirmation;
Standard Sale and Purchase Terms means the Operator's Standard Sale and Purchase Terms that govern the sale and purchase of units which are the subject of bids and offers which are successfully Matched and which are published on the Carbon Match Website;
Terms of Use means the Terms of Use which govern use of the Website and the Carbon Match Platform by each User and each Participant Account Holder and which are published on the Website;
Transaction means the sale and purchase arising between the Buyer and the Seller as a consequence of a successful Match of Bids and the offers posted by them or on their behalf;
Units has the meaning set out in the CCRA; and
Website means the website located at www.carbonmatch.co.nz.
the Operator may, at its sole discretion and within 24 hours from when the Match is effected, void the Match by sending written notification to the Notice Address of the Buyer and Seller.