Article 20 Cap for scheme years
(1)
The number of allowances created in a scheme year may not exceed the base for the scheme year multiplied by—
(a)
if the scheme year is in the 2021-2025 allocation period, the 2021-2025 hospital and small emitter reduction factor;
(b)
if the scheme year is in the 2026-2030 allocation period, the 2026-2030 hospital and small emitter reduction factor.
(2)
Paragraph (1) is subject to any direction given by the UK ETS authority for the creation of allowances for allocation under regulations made by the Treasury under the Finance Act 2020f1.
(3)
But such a direction may not override article 19.
Annotations
Footnotes
- f1
-
2020 c. XXX.