Article 30 Expiry of CRTS allowances and CRTS creditsI1

United Kingdom

(1)

The administrator must record in the registry the expiry of a CRTS allowance, including a CRTS allowance which has been traded in accordance with article 25, which is—

(a)

surrendered by a CRTS participant in accordance with article 27;

(b)

not surrendered by a CRTS participant for—

(i)

the scheme year for which it was allocated;

(ii)

any of the three subsequent scheme years; or

(iii)

a scheme year earlier than the scheme year for which it was due to be allocated, in accordance with article 15 (borrowing CRTS allowances);

(c)

not surrendered by a former CRTS participant in accordance with article 29(5)(a); F1...

F2(ca)

converted into part of a VRTS credit pursuant to a trade under article 25A;

(cb)

converted into part of a VRTS credit in accordance with article 55A; or

(d)

converted into CCTS allowances in accordance with article 35.

(2)

The administrator must record in the registry the expiry of a CRTS credit, including a CRTS credit which has been traded in accordance with article 25 or 26, which is—

(a)

surrendered by a CRTS participant in accordance with article 27; F3...

(b)

not surrendered by a CRTS participant for the scheme year for which the credit was acquired;

F4(c)

converted into part of a VRTS credit pursuant to a trade under article 26A; or

(d)

converted into part of a VRTS credit in accordance with article 55B.

Annotations

Textual amendments

F1: Word in art. 30(1)(c) omitted (1.1.2026) by virtue of The Vehicle Emissions Trading Schemes (Amendment) (No. 2) Order 2025 (S.I. 2025/1101), arts. 1(1), 17(2)(a)
F2: Art. 30(1)(ca)(cb) inserted (1.1.2026) by The Vehicle Emissions Trading Schemes (Amendment) (No. 2) Order 2025 (S.I. 2025/1101), arts. 1(1), 17(2)(b)
F3: Word in art. 30(2)(a) omitted (1.1.2026) by virtue of The Vehicle Emissions Trading Schemes (Amendment) (No. 2) Order 2025 (S.I. 2025/1101), arts. 1(1), 17(3)(a)
F4: Art. 30(2)(c)(d) inserted (1.1.2026) by The Vehicle Emissions Trading Schemes (Amendment) (No. 2) Order 2025 (S.I. 2025/1101), arts. 1(1), 17(3)(b)

Commencement

I1: Art. 30 in force at 3.1.2024, see art. 1(b)