Paragraph 3 Historic average of CRC emissions and reported or determined CRC emissions

(1)

In paragraphs 1 and 2, an “historic average of CRC emissions” applies where during the previous five years before year A—

(a)

there are at least two annual reports where the participant reported CRC supplies (“the historic sequence”); and

(b)

those reports have not been found to be inaccurate by the administrator.

(2)

The “historic average of CRC emissions” means the average of the CRC emissions in the historic sequence.

(3)

In paragraphs 1, 2 and 4, “relevant CRC emissions” means the CRC emissions calculated from the CRC supplies in the annual report, as determined by the administrator under article 47(3) or applied under article 97(4)(a).

(4)

In this paragraph—

(a)

“year A” has the meaning given in paragraph 1; and

(b)

an historic sequence exists even where one or more of the years in that sequence are in different phases.