Kyoto transaction rules
IMPORTANT : The transaction rules below are only applicable to Person Holding Accounts in the Belgian Kyoto registry (KP-PHA) ; these are accounts starting with BE-121-...
Transactions in the registry are bound to certain transaction rules (a table summarizing the KYOTO transaction rules can be found below):
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Person Holding Accounts in the Belgian Kyoto registry can have between two (mandatory minimum) and four authorised representatives (ARs). In addition, up to three so-called Additional Authorised Representatives (AARs) may optionally be assigned.
If at least one AAR has been designated for a Person Holding Accounts in the Belgian Kyoto registry, any transaction proposed by an Authorised Representative (AR) needs to be confirmed by an AAR (the four-eyes-principle) regardless whether the destination account is on the TAL or not.
If at least one AAR has been designated for a Person Holding Accounts in the Belgian Kyoto registry, any addition of an account to the trusted accounts list (TAL) needs to be confirmed by an AAR as well (otherwise confirmation needs to be done by a second AR).
Voluntary cancellation of Kyoto certificates always need to be confirmed by a second person. If no AAR has been designated, another AR needs to confirm the cancellation transaction.
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Each Person Holding Accounts in the Belgian Kyoto registry has a specific list of trusted accounts. Transactions can only be executed to accounts that are included in the TAL, even if one or more AARs have been appointed for the Person Holding Accounts in the Belgian Kyoto registry. ARs can add new accounts to or remove accounts from this list.
A second person always needs to confirm a change (add/remove) to the TAL!
- If an Additonal Authorised Representative (AAR) has been designated on the account, he needs to approve the change to the TAL.
- If no AAR has been designated on the account, a second Authorised Representative (AR) needs to approve the change to the TAL.
The addition of a new account to the list of trusted accounts only takes effect after a delay of seven business days (+ 2 hours) taking into account the fixed time window (also see further).
Example: An addition to the TAL confirmed by an AR/AAR on Monday September 5, 2016 at 17:45 CET will hence become effectively trusted on Thursday September 15th, 2016 around 12:00 CET.
Voluntary cancellations of Kyoto certificates are not bound to this restriction. These cancellation transactions do not require the target account being added to the TAL.
All accounts of the same Account Holder in the same national registry are automatically added to the TAL. An operator with multiple accounts in the same national registry does hence not need to add any of these accounts to the TAL of any other of these accounts as this was done automatically.
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Attention: a transaction is only initiated after its approval when approval is required.
Transactions in the registry are processed on business days from Mondays to Fridays 10:00 to 16:00 Central European (summer) time (CET/CEST). The actual initiation of transaction started outside these business hours occurs only at 10:00 hours CET/CEST of the next business day.
Example: A transaction introduced (and approved) on Friday at 16:31 CET will hence be initiated on Monday at 10:00 CET only, if that Monday is not a public holiday.
Voluntary cancellations of Kyoto certificates are not bound to this restriction. These cancellation transactions will be executed immediately (after confirmation by a second person).
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Important: a transaction is only initiated after its approval when approval is required.
An initiated transaction will complete only after 26 hours. This delay is deferred on Saturdays, Sundays and public holidays. An initiated transaction on a day before a Saturday, Sunday or public holiday (and before 16h CET) will only be completed on the next working day, two hours later than the time when it has been initiated.
Voluntary cancellations of Kyoto certificates are not bound to this restriction. These cancellation transactions will be executed immediately (after confirmation by a second person).
Example: A transaction initiated on Friday at 15:31 CET from a Person Holding Accounts in the Belgian Kyoto registry will hence be completed on Monday at 17:31 CET, if that Friday and Monday are not a public holiday.
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The actual initiation of any transaction introduced (and approved) during the weekend or on a public holiday occurs only at 10:00 hours CET/CEST of the next business day.
Voluntary cancellations of Kyoto certificates are not bound to this restriction. These cancellation transactions will be executed immediately (after confirmation by a second person).
In addition to Saturdays and Sundays, the following days are not considered as business days :
- New Year - January 1
- Easter
- Easter Monday
- Labor Day - May 1
- Feast of the Ascension
- Pentecost
- Pentecost Monday
- Belgian National day - July 21
- Assumption of Mary - August 15
- All Saints' Day - November 1
- Armistice Day - November 11
- Christmas - December 25
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As indicated in the previous items already, specifc rules exist for voluntary cancellation of Kyoto certificates. These transactions are executed without delay and disregarding business hours.
Volluntary cancellation transactions always require validation by a second person (a second AR if no AAR has been designated).
TAL change / Transaction confirmation
After any change in the Trusted Account List (TAL) or after introduction of a transaction by an Authorised Representative (AR) that requires approval by a second person, a task is generated in the registry task list.
This task needs to be approved by an AAR if an AAR is designated on the account, otherwise this task needs to be approved by a second AR.
Also see the page on task management in order to approve the task.
Summary table on Kyoto transaction rules
Some of the above transaction rules are only applicable to specific situations (ex. the designation of an AAR). The table below gives an overview :
| Transferring account | Acquiring account on TAL? | AAR designated? | 26h delay before completion? |
|---|---|---|---|
| KP-PHA | Yes | Optional | Yes |
| No | Transaction not possible | ||
If an AAR has been designated, any addition of an account to the trusted accounts list (TAL) and any transaction needs to be confirmed by an AAR.
The 26h delay starts only counting during business hours on working days (and after AAR approval if AAR approval is required).
Voluntary cancellations of Kyoto certificates are executed without delay and disregarding business hours. These transactions always require approval by a second person (a second AR if no AAR has been designated).
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