Regulation 21 Allocation of aviation allowances from the special reserve

This regulation applies to Schedule 8.

In paragraph 5, for “benchmarking year”, substitute “second calendar year in the trading period”.

In paragraph 8, after “Article 3f(7), insert “and Article 28a(2)”.

After paragraph 8 of Schedule 8, insert—

“Maximum allocation of aviation allowances from the special reserve

9.

An allocation of allowances to be issued from the special reserve under Article 3f of the Directive in any trading period must not exceed 1,000,000 allowances.”.