Review of account information according to the legal obligations

Annual confirmation of account data

Account holders are legally obliged to confirm to the Austrian Emissions Trading Registry by 31.12. each year that their account details remain complete, up-to-date, accurate and true. This obligation is laid down in Article 22 (1) of Regulation (EU) 2019/1122.

Article 22 (1) of Regulation (EU) 2019/1122 states:

“All account holders shall notify the national administrator within 10 working days of changes to the account information. In addition, account holders shall confirm to the national administrator by 31 December each year that their account information remains complete, up-to-date, accurate and true.”

The Austrian Emissions Trading Registry accepts confirmations received between 1 October and 31 December. The Registry provides a special service reminding account holders and authorised representatives from October onwards of this obligation and sending each account holder a pre-filled sample confirmation letter by post. The written confirmation has to be duly signed by the account holder and sent by post to the Austrian Emissions Trading Registry.

Account review

According to Article 22 (4) of Regulation (EU) 2019/1122, the Austrian Emissions Trading Registry is legally obliged to carry out a review of the accounts and the information associated with these accounts in the Austrian part of the Union registry. 

Article 22 (4) (EU) 2019/1122 states:

“At least once every three years, the national administrator shall review whether the account information remains complete, up-to-date, accurate and true, and shall request that the account holder notify any changes as appropriate. For operator accounts and verifiers, the review shall take place at least once every five years. The national administrators shall by the last day of the month following 12 months after the date of entry into force of this Regulation and at least once every year thereafter, review the accounts which do not contain information on the Legal Entity Identifier or status of trading venue or central counterparty referred to in Table III-I of Annex III.”

If the review undertaken by the Austrian Emission Trading Registry shows that an update of information is necessary, or that up-to-date documents have to be submitted, the account holders and the authorised representatives concerned will be informed accordingly.