Article 30 Expiry of CRTS allowances and CRTS credits

(1)

The administrator must record in the registry the expiry of a CRTS allowance, including a CRTS allowance which has been traded in accordance with article 25, which is—

(a)

surrendered by a CRTS participant in accordance with article 27;

(b)

not surrendered by a CRTS participant for—

(i)

the scheme year for which it was allocated;

(ii)

any of the three subsequent scheme years; or

(iii)

a scheme year earlier than the scheme year for which it was due to be allocated, in accordance with article 15 (borrowing CRTS allowances);

(c)

not surrendered by a former CRTS participant in accordance with article 29 (5)(a); or

(d)

converted into CCTS allowances in accordance with article 35.

(2)

The administrator must record in the registry the expiry of a CRTS credit, including a CRTS credit which has been traded in accordance with article 25 or 26, which is—

(a)

surrendered by a CRTS participant in accordance with article 27; or

(b)

not surrendered by a CRTS participant for the scheme year for which the credit was acquired.