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Paragraph 1 Absolute change in CRC emissions

Original text. Later amendments are not shown.

The percentage change in the CRC emissions of a participant for an annual reporting year (“year A”) compared to—

(a)

where it exists, the historic average of CRC emissions of that participant; or

(b)

otherwise, the relevant CRC emissions of that participant for the annual reporting year (“year B”) before year A,

is the “absolute change” in CRC emissions for year A.