[F1263AZARenewables obligation certificates for domestic microgenerationU.K.
(1)A gain accruing to an individual on a disposal of a renewables obligation certificate is not a chargeable gain if—
(a)the individual acquired the certificate in connection with the generation of electricity by a microgeneration system,
(b)the system is installed at or near domestic premises occupied by the individual, and
(c)the individual intends that the amount of electricity generated by it will not significantly exceed the amount of electricity consumed in those premises.
(2)In subsection (1)—
“domestic premises” means premises used wholly or mainly as a separate private dwelling,
“microgeneration system” has the same meaning as in section 4 of the Climate Change and Sustainable Energy Act 2006, and
“renewables obligation certificate” means a certificate issued under section 32B of the Electricity Act 1989 or Article 54 of the Energy (Northern Ireland) Order 2003.]
Textual Amendments
F1S. 263AZA inserted (with effect in accordance with s. 21(4) of the amending Act) by Finance Act 2007 (c. 11), s. 21(2)