Transfers of excess actions
7. After article 21 (excess actions), insert—
“Transfers of excess actions
21A.—(1) Where—
(a)a supplier (“C”) has achieved an excess action (“E”); and
(b)the Administrator has approved an application made in respect of E under article 21(9),
E may be regarded as achieved by another supplier (“D”) (“a transfer”) if that transfer is approved by the Administrator in accordance with this article.
(2) C and D must—
(a)apply for approval in writing to the Administrator by 30th April 2015;
(b)provide to the Administrator such information, including the number and type of excess actions intended to be transferred, as the Administrator may reasonably require; and
(c)indicate whether D intends E to be credited towards D’s—
(i)total carbon emissions reduction obligation;
(ii)total carbon saving community obligation; or
(iii)total home heating cost reduction obligation.
(3) The Administrator must approve a transfer—
(a)in a case where D has indicated that it intends E to be credited towards a different obligation from the one notified under article 21(2)(b), if the Administrator is satisfied that E meets any applicable requirement in article 21(4)(d) or (5)(d) in respect of that different obligation; and
(b)unless it has reasonable grounds to believe that, if the transfer were approved, C would not be able to achieve its—
(i)total carbon emissions reduction obligation;
(ii)total carbon saving community obligation; or
(iii)total home heating cost reduction obligation.
(4) If the Administrator decides not to approve a transfer under paragraph (3) it must notify C and D of the reasons for that decision.
(5) If a transfer is approved, E is treated as achieved by D and not C.”.