Part 3The Trading Schemes
Chapter 1The Non-Zero-Emission Car Registration Trading Scheme (CRTS)
Allocation of CRTS allowances13
1
The administrator must allocate CRTS allowances in accordance with paragraphs (2) to (7), and subject to paragraph (8).
2
Except where a CRTS participant falls within paragraph (3), or where paragraph (5) or (7) applies, the administrator must allocate to a CRTS participant for each scheme year a number of CRTS allowances which is equal to P multiplied by T, where—
a
P is the percentage shown in column 2 of the Table in Part 1 of Schedule 6 for that scheme year; and
b
T is the total number of cars of which the CRTS participant is the manufacturer and which were registered during that scheme year.
3
The administrator must allocate to a low-volume CRTS participant a number of CRTS allowances for a scheme year which is equal to the number of cars of which the low-volume CRTS participant is the manufacturer and which are registered during that scheme year, subject to a maximum of 2,499 CRTS allowances.
4
Paragraph (5) applies for the purpose of calculating the number of CRTS allowances to be allocated to a CRTS participant where—
a
the CRTS participant is not a low-volume CRTS participant for the scheme year for which the calculation is made (referred to in this paragraph and in paragraph (5) as “the transition year”);
b
the CRTS participant was a low-volume CRTS participant for the scheme year immediately preceding the transition year; and
c
the transition year is not the 2030 scheme year.
5
Where this paragraph applies, the administrator must allocate to the CRTS participant a number of CRTS allowances for the transition year which is equal to the higher of—
a
the number of cars of which the CRTS participant is the manufacturer and which were registered during the transition year, subject to a maximum of 2,499 CRTS allowances; or
b
the number which results from the application of the formula in paragraph (2) for the transition year.
6
Paragraph (7) applies for the purpose of calculating the number of CRTS allowances to be allocated to a CRTS participant which—
a
was a low-volume CRTS participant by virtue of Part 2 of Schedule 4 for the 2029 scheme year; and
b
is the manufacturer of fewer than 2,500 cars, but more than 999 cars, which were registered during the 2030 scheme year.
7
Where this paragraph applies, the administrator must allocate to the CRTS participant a number of CRTS allowances for the 2030 scheme year which is equal to the higher of—
a
the number of cars of which the CRTS participant is the manufacturer and which were registered during the 2030 scheme year, subject to a maximum of 2,499 CRTS allowances; or
b
the number which results from the application of the formula in paragraph (2) for the 2030 scheme year.
8
The allocation of allowances in accordance with this article may not result in the allocation of part of a CRTS allowance which is smaller than one tenth of a CRTS allowance, and a CRTS participant’s allocation of CRTS allowances must, where necessary, be rounded to the nearest decimal place accordingly.