OpenLegislation

Article 50 VRTS credits: general

Original text. Later amendments are not shown.

(1)

A VRTS participant may acquire a VRTS credit in accordance with articles 51, 52 and 55.

(2)

Where it acquires a VRTS credit for a scheme year, a VRTS participant may—

(a)

surrender that VRTS credit for that scheme year in accordance with article 59; or

(b)

trade that credit in accordance with article 57 during the trading window following that scheme year.

(3)

An SPV van manufacturer may acquire a VRTS credit in accordance with article 53 or 54.

(4)

An SPV van manufacturer may trade a credit acquired for a scheme year in accordance with article 58 during the trading window following that scheme year.

(5)

Where a VRTS participant or an SPV van manufacturer acquires a VRTS credit in accordance with articles 51 to 55, the administrator must update the registry accordingly.