1. Market participants entering into reportable transactions shall register with the national regulatory authority in each part of the United Kingdom in which they are active.

A market participant entering into reportable transactions which relate, or might relate, to the trading or transportation of electricity between Great Britain and the SEM must register with both the GB Authority and the NI Authority.

The registration of market participants is without prejudice to obligations to comply with applicable trading and balancing rules.

For this purpose -

(a) "part of the United Kingdom" means Great Britain or Northern Ireland; and

(b) all market participants entering into transactions in the SEM are to be treated as being active in Northern Ireland.