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Regulation 10 Allowance Trading

Original text. Later amendments are not shown.

(1)

The making by the Secretary of State of the following is hereby authorised —

(a)

a plan or plans for the allocation of allowances in relation to specified emissions (“allocation plans”); and

(b)

one or more emissions trading schemes (“the trading schemes”) for the purpose of facilitating the trading of allowances allocated under the allocation plans.

(2)

The Secretary of State may include in the rules of the trading schemes—

(a)

provision for penalties in respect of contraventions of the terms and conditions of the trading scheme; and

(b)

provision for the amount of any penalty under the trading scheme to be such as may be set out in or calculated in accordance with the scheme.