Commission Regulation (EC) No 994/2008 (repealed)Show full title

SECTION 2 U.K. Transfers and eligibility

Article 44 U.K. Transfers of allowances by account holders

1. Upon request of an account holder, the registry administrator shall carry out any transfer of allowances held in the account of the account holder between national allowance holding accounts, operator holding accounts and person holding accounts within its registry using the internal transfer of allowances process.

2. Upon request of an account holder, the registry administrator shall carry out any transfer of allowances held in the account of the account holder between national allowance holding accounts, operator holding accounts and person holding accounts in its registry and such accounts in another registry using the external transfer of allowances process.

3. Allowances may only be transferred from an account in a registry to an account in a third country registry or the CDM Registry, or acquired from an account in a third country registry or the CDM Registry , if the following conditions are met:

(a) an agreement has been concluded in accordance with Article 25(1) of Directive 2003/87/EC; and

(b) those transfers are in accordance with the provisions relating to the mutual recognition of allowances under that agreement drawn up by the Commission pursuant to Article 25(2) of Directive 2003/87/EC.

Article 45 U.K. Transfers of Kyoto units by account holders

1. Upon request of an account holder, the registry administrator shall carry out any transfer of Kyoto units held in the account of the account holder between Party holding accounts, operator holding accounts and personal holding accounts within its registry using the internal transfer of Kyoto units process, provided that such Kyoto units can be held in the acquiring account in accordance with Article 14.

2. Upon request of an account holder, the registry administrator shall carry out any transfer of Kyoto units held in the account of the account holder between Party holding accounts, operator holding accounts and personal holding accounts in its registry and such accounts in another registry using the external transfer of Kyoto units process, provided that such Kyoto units can be held in the acquiring account in accordance with Article 14.

Article 46 U.K. Minimum holding of allowances in registries

1. If as a result of a proposed external transfer of allowances process or allowance deletion process, the total amount of allowances held in a registry would become lower than the quantity of Kyoto units required to be held in that registry under Decision 11/CMP.1 as the commitment period reserve, minus the amount of Kyoto units currently held in the registry outside of the ETS AAU deposit account and the cancellation account, the CITL shall reject the proposed transfer.

2. If as a result of a proposed external transfer of allowances process or allowance deletion process, the total combined amount of allowances held in the registries of Member States that have acceded to the European Union before the year 2000 would become lower than the quantity of Kyoto units required to be held in these registries under Decision 11/CMP.1 as the commitment period reserve of the European Community, minus the amount of Kyoto units currently held in these registries outside of the ETS AAU deposit accounts and the cancellation accounts, the CITL shall reject the proposed transfer.