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Article 66 Allocation of VCTS allowances

Original text. Later amendments are not shown.

(1)

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

(a)

N is the number of NZE vans 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 VCTS 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.