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27.—(1) For each scheme year, and no later than 31st December of the year following a scheme year, a CRTS participant must account for—
(a)each unit of its activity in the CRTS, measured in accordance with article 24, by surrendering a CRTS allowance or a CRTS credit;
(b)each half CRTS credit which the participant must account for in accordance with article 20(3) (car clubs), by surrendering a half CRTS allowance or a half CRTS credit; and
(c)any additional CRTS allowances or CRTS credits which the participant must surrender, or which it chooses to surrender, for that scheme year in accordance with article 15(7) (accounting for borrowed CRTS allowances).
(2) A CRTS participant must surrender in accordance with paragraph (1) CRTS allowances and CRTS credits which are recorded in its name in the registry, including any CRTS allowances or CRTS credits acquired through trading in accordance with article 25 or 26, in the following order of priority—
(a)CRTS credits;
(b)CRTS allowances which were allocated by the administrator for the scheme year for which the surrender is made;
(c)borrowed CRTS allowances;
(d)banked CRTS allowances.
(3) The administrator must update the registry to record the surrender of CRTS allowances and CRTS credits.
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