Amendments to article 26 of the 2014 Order (transfers of qualifying actions)
21.—(1) In article 26(2)(a), for “30th April 2017” substitute “31st December 2018”.
(2) For article 26(3) substitute—
“(3) The Administrator must approve a transfer unless—
(a)B has indicated that it intends the qualifying action to be credited towards a different obligation to the one it is credited against at the time the application is made and the Administrator is not satisfied that the qualifying action meets the applicable requirements in articles 12 to 16 in respect of that different obligation;
(b)the application is made on or after 1st July 2017, the qualifying action is credited against A’s total carbon saving community obligation at the time the application is made and the Administrator is not satisfied that the qualifying action is an excess CSCO action; or
(c)the application is made on or after 1st July 2017 and B has indicated that it intends the qualifying action to be credited towards B’s total carbon saving community obligation.
(3A) For the purposes of paragraph (3)(b), an excess CSCO action is a qualifying action which is not required by A to meet its total carbon saving community obligation.”.