Regulation 6 Borrowing of landfill allowancesI1
Northern Ireland
A district council may borrow for use in a scheme year up to 5% of the landfill allowances available to it for the following scheme year (rounded down to the nearest whole allowance).
Paragraph (1) does not apply –
in a target year,
where the following year is a target year.
Where a district council intends to borrow a landfill allowance it must submit a borrowing request to the monitoring authority before the end of the reconciliation period for the scheme year.
A borrowing request must –
be made on the form provided by the monitoring authority; and
specify –
the name of the district council, and
the number of landfill allowances which it intends to borrow.
The monitoring authority is not required to consider a borrowing request unless it is made in accordance with paragraph (4).
If the conditions in paragraph (8) are satisfied the monitoring authority must –
remove the number of landfill allowances specified in the borrowing request from the part of the district council’s landfill allowance account relating to the following scheme year;
include those allowances in the part of the account relating to the scheme year; and
notify the district council which made the request –
that its request has been accepted, and
of the amendments that have been made to its landfill allowance account.
If the conditions in paragraph (8) are not satisfied the monitoring authority must notify the district council –
that its request has not been accepted, and
of the reasons why.
The conditions referred to in paragraphs (6) and (7) are that –
the borrowing request complies with paragraph (2),
the number of landfill allowances specified in the request are available to the district council for the following scheme year,
accepting the borrowing request would not cause the district council to exceed the limit on borrowing under paragraph (1), and
the district council is not suspended from borrowing landfill allowances under regulation 8.