BUC Registry accounts

Last updated 2 May 2024

The BidCarbon Marketplace will replace the BidCarbon Registry of Units (BRU) with the BidCarbon Unit and Certificate (BUC) Register. The BUC Registry is an online system for BidCarbon Standard Scheme participants to create, transfer and surrender carbon data rights certificates.

An BUC Registry account has 3 main parts:

● Account holder – the legal entity (person) who owns or holds the account (this can be an individual or an organisation).

● Holding accounts – these are associated with the account holder. An account holder can have many holding accounts.

● Authorised representative – these are the individuals that access the holding accounts on behalf of the account holder.

There are 3 types of BUC Registry accounts:

● Holding accounts

● Auction account

● BidCarbon marketplace account

Each account has different permissions. They all perform various activities and functions in the BUC Registry. It's your responsibility to set up the appropriate account.

Some accounts have registration fees.

BUC Registry account

Before you can complete the 'Open an BUC Registry account' application, you need to make sure the BUC Registry account holder and authorised representatives are registered in Online Services.

A BUC Registry account can have up to three authorised representatives, as needed. Each authorised representative must have their own Online Services account. Create an account for each person before you begin.

● Authorised representatives: if the person isn't already registered for any other scheme, complete and submit the 'Register an individual' form in Online Services. You must submit a separate form for each authorised representative.

● Account holder: if the account holder is an organisation and isn't already registered with us, complete and submit the ‘Register an Organisation’ form in Online Services.

To apply for a BUC Registry account:

● identify the type of account you need

● provide proof of identity

● provide a legal name for the account

● follow the eligibility requirements for the BUC Registry account you want.

Open an account

Legal person

A BUC Registry account name should represent a legal person. A legal person includes:

● an individual recognised by law as a legal person

● a group of people recognised by law to act as one individual.

Non-legal entities

Non-legal entities can also apply for an account if there’s a legal name included in the account name. Account names that include the name of a non-legal person must begin with the name of the legal person, followed by the non-legal entity. These names must match the name on the Business Register. This ensures that all account names are traceable and verifiable, maintaining consistency.

For example:

● Solar Works Pty Ltd trading as Gecko Solar

● John Smith acting as trustee for The Bloggs Family Trust

To hold an BUC Registry account or be an authorised representative, you must pass the fit and proper test. Learn more about our fit and proper person policy.

Fit and proper person test

Verify identity

You're required to verify your identity while completing your registration form. You can either:

● use digital identity verification

● upload certified copies of original documents.

Individuals

We are regulated by the UK and EU Money Laundering, Terrorist Financing and Transfer of Funds Regulations.

We have integrated our systems for due diligence checks with CREDAS, a UK-based ID verification company that digitally certifies your proof of ID and address in less than 5 minutes, at no additional cost. 

The digital identity verification service supports:

Category A documents

● Birth certificate (not extract)

● Citizenship certificate

● Passport

● Visa

Category B documents

● Driver’s licence

If your current name is different to the name on your identity documents, you must provide evidence. This must be provided along with the above 3 identity documents. It can include a:

● deed poll

● certificate issued by a government authority that recognises the change of name.

For each document, detailed help is available by clicking on the icon. Ensure you enter the details from the document into the form, in the correct format.

Every document must be certified by a professional.

Certifiers outside must be:

● Non-honorary consulate

● Embassy

● an Apostille Certificate can be obtained from a Hague Apostille Convention Competent Authority.

If the original document is in a language other than English, a written translation must be provided. This must be certified as a true and correct copy by an authorised translation service such as:

● an appropriate embassy

Organisations

Your organisation can streamline their identity verification process by supplying their Company Registration Number (CRN).

If an CRN isn’t supplied, then your organisation must verify their identity by uploading certified copies.

These must be issued by the Companies House or a similar governing body.

Depending on your type of organisation, you may need to provide:

● certificate of incorporation

● documentary evidence of organisation existence

● trust deed and its certificate of registration (if applicable).

Some BUC Registry accounts have fees. To pay these, you can:

● log in to your account

● select the 'Pay' menu heading

● select the 'Fees' menu item

● select the fee items you want to pay

● select the 'Create Payment Advice' button.

A payment advice will be created. You can view the payment advice and pay using one of the methods specified.

Pay the BUC Registry account fee

Before you apply, you need to identify the type of account you need.

Types of accounts

Functions of different accounts

Close account

The account holder must submit a request to close an BUC Registry account in writing. Make sure the account no longer holds units before you request to close it.

If the account holder is an individual and is deceased, the executor can submit the request. 

You can submit a request to close an account by contact us.

Reports

You can find all of our BRU transaction reports on BRU public reports.