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Article 40 Expiry of CCTS allowances

Original text. Later amendments are not shown.

The administrator must record in the registry the expiry of a CCTS allowance, including a CCTS allowance which has been traded in accordance with article 37, which is—

(a)

surrendered by a CCTS participant;

(b)

not surrendered in accordance with article 38 for the scheme year for which it was allocated under article 34 or for which it was acquired under article 35 (conversion of unused CRTS allowances into CCTS allowances); or

(c)

converted into CRTS credits in accordance with article 23.