(1) A person shall not participate in trading in the wholesale electricity market unless that person has 

(a) an operating licence or permit issued by the Commission,

(b) registered with the Utility, and 

(c) entered into a contractual arrangement with the Utility.

(2) The contractual arrangement with the Utility, the market rules, the National Electricity Grid Code and these Regulations shall define the rights and obligations of a market participant in the wholesale electricity market.

(3) The Utility shall maintain a register of market participants.