Transfer of permits: underreporting discovered after transfer12A

1

This regulation applies where—

a

after the transfer of a greenhouse gas emissions permit under regulation 12 takes effect, the regulator becomes aware, following a determination of reportable emissions under regulation 44, of an error in a report submitted for a scheme year by the transferring operator under the monitoring and reporting requirements of the permit; and

b

as a result of the error, the transferring operator failed to comply with the surrender requirements of the permit in respect of the scheme year to which the error relates.

2

The regulator must give notice to the transferring operator of the error as soon as reasonably practicable.

3

The transferring operator must, within the period of one month beginning with the date the transferring operator received the notice, effect a transfer to the new operator of allowances equal to the reportable emissions in respect of which, as a result of the error, the transferring operator failed to comply with the surrender condition of the permit.

4

The new operator must surrender the allowances within the period of one month beginning with the date of the transfer of the allowances.

5

In paragraph (1), the reference to the transfer of a permit under regulation 12 includes a reference to an application for a transfer of a permit to which effect is given by a variation of the new operator’s existing permit.

6

In this regulation—

a

“transferring operator” means the person who was the current operator for the purposes of regulation 12; and

b

“new operator” has the same meaning as in regulation 12.