CHAPTER VU.K.TRANSACTIONS

SECTION 5U.K.Surrender of allowances

Article 53U.K.The use of CERs and ERUs

The use of CERs and ERUs by an operator in accordance with Article 11a of Directive 2003/87/EC in respect of an installation shall take place through an operator requesting the registry administrator to:

(a)

transfer a specified number of CERs or ERUs for a specified year from the relevant operator holding account into the Party holding account of that registry;

(b)

enter the number of transferred CERs and ERUs into the section of the surrendered allowance table designated for that installation for that year.

[F1The registry administrator shall only accept requests to surrender CERs and ERUs up to the percentage of allocation to each installation specified by Member State legislation. The CITL shall reject any request to surrender CERs and ERUs that would surpass the maximum allowed amount of CERs and ERUs to be surrendered in the Member State.]

The transfer and entry shall take place in accordance with the allowance surrender process set out under Annex IX.