5 Nov 2024 07:04:39
Approved Escrow Agent means an escrow agent which is a NZEUR Account Holder and which is listed as an Approved Escrow Agent on the Website;
Approved Participant List means the list established by the Operator of all Participant Account Holders together with those further parties which may become Participant Account Holders upon final acceptance by the Operator of an application by a User to become an Approved User;
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, a 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 NZEUR 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 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;
Disclaimer Statement means the disclaimer statement published on the Website;
GST means goods and services tax chargeable, or to which a person may be liable, under the Goods and Services Tax Act 1985, and any penalties, additional tax or interest payable in respect of goods and services tax;
Information means the information a User is required to provide to the Operator when applying to become an Approved User (including contact information and bank account details), together with other market data relating to Offers, Bids and Matches involving the User or the Participant Account Holder, and any other information collected by the Operator concerning the User or the Participant Account Holder;
Market Rules means the rules for the operation of the market for sale and purchase of Units known as the "Market Rules", located on the Website;
Match means the match or partial match of a Bid with one or more Offers for a particular type of Unit with the same settlement date at a price not less than the Offer price effected by means of the Carbon Match Platform;
Match Fee means:
New Zealand Emissions Unit Register means the register described in section 18 of the CCRA;
Notice Address means the e-mail address specified by the User for the Participant Account Holder, in the User's application to become an Approved User;
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;
Official Cash Rate means the rate set by the Reserve Bank of New Zealand or such other rate as may replace the same from time to time;
Operator means Carbon Match Limited or any successor operator of the Website and the Carbon Match Platform;
Participant Account Holder means:
Seller means the NZEUR Account Holder identified as such in the Carbon Match Confirmation;
Spot Trade means a Transaction where the date in the Carbon Match Confirmation, specified for transfer of the relevant Units from the Seller to the Buyer is no later than the third Business Day following the Transaction Date;
Standard Sale and Purchase Terms means the Operator's Standard Sale and Purchase Terms which govern the Offers and Bids for those Units which are the subject of a successful Match, and which are published on the Website;
Terms of Use means these terms of use which govern use of the Website and the Carbon Match Platform by each User and each Participant Account Holder;
Transaction means the sale and purchase arising between the Seller and the Buyer as a consequence of a successful Match of Offers and Bids posted by them;
Transaction Date means the date upon which a Match is made via the Carbon Match Platform;
Units has the meaning set out in the CCRA;
User means an individual who accesses the Website; and
Website means the website located at www.carbonmatch.co.nz.