Głowacki Law Firm

Legal complications with the recovery of the stolen allowances - Page 2
Sunday, 30 January 2011 19:12


The completely different issue from the above described complications regarding the recovery of the stolen allowances is the matter of civil responsibility of those convicted for the said crimes towards the persons suffering the loss as a result of the theft. The regimes for non-contractual liability arising out of damage caused to another generally provide for a person who suffers legally relevant damage a right to reparation from a person who caused the damage intentionally or negligently or is otherwise accountable for the causation of the damage.

 

It seems that the implications of the recent events will be complex and wide-ranging. Rather logical conclusion is, however, that having in place the uniform Union law regarding the standardised system of registries, it would be useful, if the said regulation contained provisions regulating the pan-European effects of the entry into the registry as regards the considerations of the validity and effectiveness of the transactions in emission allowances (in particular - as was questioned above - is the entry in the personal holding account of the registry the constituent element of the transaction or not). Considering the speed of the trading in emission allowances and it’s characteristic to cross the national boundaries of the Member States with ease, the uniform regulation in this matter would be of great usefulness when settling the legal problems as that resulting from the recent thefts.

 



 

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