1.For the purposes of monetisation of allowances and management of revenues, the Commission shall act on behalf of Member States.
2.The Member States and the Commission shall ensure that the 300 million allowances referred to in Article 2(1) shall be transferred to the EIB for monetisation and management of the revenues.
3.The EIB shall sell the allowances for the first round of calls for proposals before the award decisions are adopted by the Commission for each round of calls for proposals referred to in Article 5(1).
The EIB shall manage the revenues and shall pass them to Member States as required for disbursement pursuant to Article 11.