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Part 3The Trading Schemes

Chapter 1The Non-Zero-Emission Car Registration Trading Scheme (CRTS)

Expiry of CRTS allowances and CRTS credits

30.—(1) The administrator must record in the registry the expiry of a CRTS allowance, including a CRTS allowance which has been traded in accordance with article 25, which is—

(a)surrendered by a CRTS participant in accordance with article 27;

(b)not surrendered by a CRTS participant for—

(i)the scheme year for which it was allocated;

(ii)any of the three subsequent scheme years; or

(iii)a scheme year earlier than the scheme year for which it was due to be allocated, in accordance with article 15 (borrowing CRTS allowances);

(c)not surrendered by a former CRTS participant in accordance with article 29(5)(a); or

(d)converted into CCTS allowances in accordance with article 35.

(2) The administrator must record in the registry the expiry of a CRTS credit, including a CRTS credit which has been traded in accordance with article 25 or 26, which is—

(a)surrendered by a CRTS participant in accordance with article 27; or

(b)not surrendered by a CRTS participant for the scheme year for which the credit was acquired.