(1) Auctions may only be conducted on an auction platform which is -

(a) a recognised auction platform;

(b) authorised as a recognised investment exchange whose operator organises a secondary market in allowances or allowances derivatives.

(2) Without prejudice to paragraph (1)(b), a recognised investment exchange whose operator organises a wholesale energy market as defined in Article 2(6) of Regulation (EU) No 1227/2011 of the European Parliament and of the Council on wholesale energy market integrity and transparency, but does not organise a secondary market in allowances or allowances derivatives, may participate in the procurement procedure pursuant to regulation 22.