Carbon accounting scheme5
1
The Scottish Ministers must on or before 1st August 2010 instruct the registry administrator to open an account (“the Scottish credit account”) in the UK registry.
2
The Scottish credit account—
a
must be used to hold a carbon unit that is to be credited to the net Scottish emissions account; and
b
may be used to hold any other carbon unit.
3
The Scottish Ministers may only instruct the registry administrator to transfer a carbon unit from the Scottish credit account—
a
for cancellation; or
b
to the credit account opened in accordance with regulation 4 of the 2009 Regulations.
4
The Scottish Ministers may only instruct a transfer under paragraph 3(b) if they are satisfied that the carbon unit will be credited to the net UK carbon account in accordance with regulation 5 of the 2009 Regulations.