Part 3The Trading Schemes
Chapter 2The Non-Zero-Emission Car CO2 Trading Scheme (CCTS)
Trading CCTS allowances37
1
During a trading window, a CCTS participant may trade any CCTS allowances with another CCTS participant.
2
A CCTS participant must trade whole numbers of CCTS allowances.
3
Each CCTS participant which is a party to a trade must, before the end of the trading window, notify the administrator and each notification must include—
a
the name and account number in the registry of the CCTS participant which is the transferor;
b
the name and account number in the registry of the CCTS participant which is the transferee;
c
the number of CCTS allowances traded; and
d
the price paid for those CCTS allowances.
4
A CCTS participant which trades a CCTS allowance in accordance with this article must inform the other party to the trade of their account number in the registry.
5
Where a CCTS participant is a pool CCTS participant, a reference in this article to a CCTS participant’s account number is a reference to the account number of the manufacturer identified to the administrator in accordance with—
a
paragraph 5(c)(i) of Schedule 5 (application to be treated as a pool participant) in the application made under that Schedule; or
b
article 83(1) (updating information provided with application under Schedule 5).
6
Where a trade is notified in accordance with paragraph (3), the administrator must update the registry and notify the parties to the trade accordingly.
7
Unless the administrator is satisfied that notification of a trade has been given in accordance with this article, the trade is treated as not having taken place.