The Vehicle Emissions Trading Schemes Order 2023

Trading VRTS credits: SPV van manufacturers

58.—(1) An SPV van manufacturer may trade VRTS credits acquired by it under article 53 or 54 in accordance with paragraphs (2) and (3).

(2) During the trading window following the scheme year for which a VRTS credit was acquired by an SPV van manufacturer, the SPV van manufacturer may trade the VRTS credit by way of disposing of it to a VRTS participant.

(3) A trade under paragraph (2) must comply with paragraphs (2) to (5) of article 57, as if the references to a VRTS participant in those paragraphs (with the exception of the reference in paragraph (3)(b)) include an SPV van manufacturer.

(4) Where a trade is notified in accordance with article 57(3), the administrator must update the registry and notify the parties to the trade accordingly.

(5) 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.