Article 23 Amendment of article 55 (VRTS credits: conversion of unused VCTS allowances)

(1)

Article 55 is amended as follows.

(2)

In paragraph (1), in sub-paragraph (c), for “the 2024 scheme year, the 2025 scheme year or the 2026 scheme year” substitute “any scheme year other than the 2030 scheme year”.

(3)

In paragraph (4), for “7.2%” substitute “14.4%”.

(4)

In paragraph (5), for “6%” substitute “19.2%”.

(5)

After paragraph (5), insert—

“(5A)

A request under paragraph (1) to exchange unused VCTS allowances allocated for the 2027 scheme year is limited to a number of VRTS credits which does not exceed 23.8% of the total number of vans of which the VRTS participant is the manufacturer and which were registered during that scheme year.

(5B)

A request under paragraph (1) to exchange unused VCTS allowances allocated for the 2028 scheme year is limited to a number of VRTS credits which does not exceed 27.6% of the total number of vans of which the VRTS participant is the manufacturer and which were registered during that scheme year.

(5C)

A request under paragraph (1) to exchange unused VCTS allowances allocated for the 2029 scheme year is limited to a number of VRTS credits which does not exceed 29% of the total number of vans of which the VRTS participant is the manufacturer and which were registered during that scheme year.”.