TITLE IIF3PROVISIONS FOR THE REGISTRY

Annotations:
Amendments (Textual)

F4CHAPTER 1Verified emissions and compliance

Annotations:
Amendments (Textual)

F4Article 35Verified emissions data for an installation or aircraft operator

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F4Article 36Blocking of accounts due to a failure to submit verified emissions

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F4Article 37Calculation of compliance status figures

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CHAPTER 2Transactions

Section 1General

Article 38

Only transactions expressly provided for in this Regulation for each account type shall be initiated by that account type.

Article 39F5Execution of transfers

1

For all transactions specified in this Chapter, an out of band confirmation must be required by the Registry before the transaction can be initiated. A transaction may only be initiated where an authorised representative has confirmed the transaction out of band.

2

If an account representative suspects that a transfer was initiated fraudulently, the account representative may request the national administrator to cancel the transfer on behalf of the account representative before the transfer is communicated for finalisation.

Article 40F6Nature of Kyoto units and finality of transactions

1

The record of the Registry constitutes sufficient evidence of title over a Kyoto unit and of any other matter which is by this Regulation directed or authorised to be recorded in the Registry.

2

Any recovery or restitution obligations that may arise under United Kingdom law in respect of a Kyoto unit only apply to the Kyoto unit in kind.

3

Subject to this paragraph, a transaction is final and irrevocable upon its finalisation pursuant to Article 104. Except where a transaction may be reversed in accordance with relevant international climate law, and without prejudice to any provision of or remedy under United Kingdom law that may result in a requirement or order to execute a new transaction in the Registry, the national administrator may not reverse or revoke any transaction that has become final and irrevocable under this Regulation.

4

A purchaser and holder of a Kyoto unit acting in good faith acquires title to that Kyoto unit free of any defects in the title of the transferor.

Section 2Creation of allowances

F1Article 41Creation of allowances

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Section 3Account transfers before auctions and allocation

F1Article 42Transfer of general allowances to be auctioned

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F1Article 43Transfer of general allowances to be allocated free of charge

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F1Article 44Transfer of general allowances for the new entrant reserve

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F1Article 45Transfer of aviation allowances to be auctioned

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F1Article 46Transfer of aviation allowances to be allocated free of charge

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F1Article 47Transfer of aviation allowances to the special reserve

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F1Article 48Transfer of general allowances to the EU Total Quantity-Account

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F1Article 49Transfer of aviation allowances to the EU Aviation Total Quantity Account

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F1Article 50Deletion of aviation allowances

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Section 4Allocation to stationary installations

F1Article 51Entry of national allocation tables into the EUTL

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F1Article 52Changes to the national allocation tables

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F1Article 53Free allocation of general allowances

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Section 5Allocation to aircraft operators

F1Article 54Entry of national aviation allocation tables into the EUTL

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F1Article 55Changes to the national aviation allocation tables

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F1Article 56Free allocation of aviation allowances

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F1Article 57Return of aviation allowances

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Section 6Use of CERs and ERUs

F1Article 58International credit holdings in the Union Registry

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F1Article 59Entry of international credit entitlement tables into the EUTL

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F1Article 60Use of international credits through allowance exchange

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F1Article 61Calculation of remaining international credit entitlement

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Section 7Auction

F1Article 62Entry of auction tables into the EUTL

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F1Article 63Changes to the auction tables

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F1Article 64Auctioning of allowances

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Section 8Trading

Article 65F7Transfers of Kyoto units initiated by an account holder

The Secretary of State must ensure that the Registry provides for the carrying out of any request from an account holder to transfer Kyoto units to any other account, unless such a transfer is prevented by the status of the initiating or receiving account.

F2Article 66Transfers of allowances or Kyoto units initiated by a trading account

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Section 9Surrender of allowances

F2Article 67Surrender of allowances

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Section 10Deletion of allowances and cancellation of Kyoto units

F2Article 68Deletion of allowances

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Article 69F8Cancellation of Kyoto units

The Secretary of State must ensure that the Registry provides for the carrying out of any request from an account holder to cancel Kyoto units held in its accounts by transferring a specified type and number of Kyoto units from the relevant account into the cancellation account of the Registry.

Section 11Transaction reversal

F9Article 70Reversal of finalised processes initiated in error

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CHAPTER 3Links with other geenhouse gas emission trading schemes

F10Article 71 Implementation of linking arrangements

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