The Large Combustion Plants (National Emission Reduction Plan) Regulations 2007

Transfers of emission allowances

8.—(1) Where a part of an emission allowance is transferred from one participating plant to another participating plant, the operator of each plant must notify the Agency of the transfer by—

(a) correctly completing the form provided by the Agency for the purpose; and

(b) sending it to the Agency within 5 working days of the date on which the transfer is made.

(2) A part of an emission allowance may be transferred at any time during the period comprising—

(a) the calendar year in respect of which the emission allowance has been allocated by the Secretary of State; and

(b) the period of three months following the end of that calendar year.

(3) The form referred to in paragraph (1)(a) may be provided by, and, when duly completed, sent to, the Agency electronically.

(4) If the requirements to notify under paragraph (1) are not complied with, the transfer becomes void.

(5) The Agency must not record a transfer in the register unless it has been notified of the transfer in accordance with this regulation.

(6) The Agency must record a transfer within 10 working days of notification.

(7) No emission allowance in respect of a participating plant may be carried forward from one calendar year to the next.

(8) The transfer of an emission allowance which results in a participating plant having an emission allowance of zero or less than zero has no effect.