Article 26 Trading CRTS credits with CRTS participants: SPV car manufacturersF4I1

An SPV car manufacturer may trade CRTS credits acquired by it under article 21 or 22 F1with a CRTS participant in accordance with paragraphs (2) and (3).

An SPV car manufacturer may only trade a CRTS credit under this article during the trading window following the scheme year for which the CRTS credit was acquired by the SPV car manufacturer.

A trade under F3this article must comply with paragraphs (2) to (5) of article 25, as if references to a CRTS participant in those paragraphs (except for the reference in paragraph (3)(b)) include an SPV car manufacturer.

Where a trade is notified in accordance with article 25(3), the administrator must update the registry and notify the parties to the trade accordingly.

Unless the administrator is satisfied that notification of a trade has been given in accordance with this article, the trade is treated as not having taken place.