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Article 34 Allocation of CCTS allowances

Original text. Later amendments are not shown.

(1)

Subject to paragraph (2), the administrator must allocate to each CCTS participant for each scheme year a number of CCTS allowances which is equal to N multiplied by B, where—

(a)

N is the number of NZE cars of which the participant is the manufacturer and which are registered during that scheme year; and

(b)

B is that participant’s baseline.

(2)

Where the number of CCTS allowances which results from the application of the formula in paragraph (1) is not a whole number, the number is to be rounded to the nearest whole number.