Article 7 Transfers of excess actions

After article 21 (excess actions), insert—

“Transfers of excess actions

21A.

(1)

Where—

(a)

a supplier (“C”) has achieved an excess action (“E”); and

(b)

the Administrator has approved an application made in respect of E under article 21(9),

E may be regarded as achieved by another supplier (“D”) (“a transfer”) if that transfer is approved by the Administrator in accordance with this article.

(2)

C and D must—

(a)

apply for approval in writing to the Administrator by 30th April 2015;

(b)

provide to the Administrator such information, including the number and type of excess actions intended to be transferred, as the Administrator may reasonably require; and

(c)

indicate whether D intends E to be credited towards D’s—

(i)

total carbon emissions reduction obligation;

(ii)

total carbon saving community obligation; or

(iii)

total home heating cost reduction obligation.

(3)

The Administrator must approve a transfer—

(a)

in a case where D has indicated that it intends E to be credited towards a different obligation from the one notified under article 21(2)(b), if the Administrator is satisfied that E meets any applicable requirement in article 21(4)(d) or (5)(d) in respect of that different obligation; and

(b)

unless it has reasonable grounds to believe that, if the transfer were approved, C would not be able to achieve its—

(i)

total carbon emissions reduction obligation;

(ii)

total carbon saving community obligation; or

(iii)

total home heating cost reduction obligation.

(4)

If the Administrator decides not to approve a transfer under paragraph (3) it must notify C and D of the reasons for that decision.

(5)

If a transfer is approved, E is treated as achieved by D and not C.”.