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Article 7 Article 20 amended (cap for scheme years)

Original text. Later amendments are not shown.

(1)

Article 20 is amended as follows.

(2)

In paragraph (1)—

(a)

in the words before sub-paragraph (a) omit “the sum of”;

(b)

in sub-paragraph (a)(ii) omit the “and” at the end of the paragraph;

(c)

omit sub-paragraph (b).

(3)

For paragraph (2) substitute—

“(2)

But the restriction in paragraph (1) does not apply to the creation of allowances—

(a)

for the flexible reserve (see article 23A);

(b)

for the new entrants’ reserve (see article 34G);

(c)

for allocation under the Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021f1 or any other regulations made under section 96 of the Finance Act 2020f2.”.

(4)

In paragraph (3) for “But such a direction may not override” substitute “Nothing in this article overrides”.

Annotations

Footnotes

f1

S.I. 2021/484, amended by S.I. 2021/513, 2021/561, 2021/917, 2023/994 and this Order. S.I. 2023/1387 also amends S.I. 2021/484, but the amendments are to a provision revoked by this Order.

f2

2020 c. 14.