OpenLegislation

Paragraph 9 Central accountsF1

(1)

The UK ETS authority may open accounts in the name of the UK ETS authority for the purposes of the UK ETS, in particular—

(a)

a total quantity account (for the creation of allowances under article 18);

(b)

an allocation account (to hold allowances to be allocated under Part 4A);

(c)

a new entrants' reserve account (to keep track of the new entrants' reserve referred to in article 34G);

(d)

an auction account (to hold allowances to be auctioned under the Auctioning Regulations);

(e)

a market stability mechanism account (to hold excess allowances unsold at auctions under the Auctioning Regulations);

(f)

a deletion account (to hold allowances deleted under paragraph 23);

(g)

a surrender account (to hold allowances surrendered under paragraph 24);

(h)

one or more general holding accounts (to hold allowances transferred from accounts before closure under paragraph 30);

(F2i)

a flexible reserve account (to keep track of the flexible reserve referred to in article 23A).

(2)

An account held by the UK ETS authority is a “central account”.

Annotations

Textual amendments

F1

Sch. 5A inserted (31.12.2020) by The Greenhouse Gas Emissions Trading Scheme (Amendment) Order 2020 (S.I. 2020/1557), arts. 2(1), 37

F2

Sch. 5A para. 9(1)(i) inserted (19.12.2024) by The Greenhouse Gas Emissions Trading Scheme (Amendment) (No. 2) Order 2024 (S.I. 2024/1366), arts. 2(1)(d), 31(2)