Article 57 Trading VRTS allowances and credits: VRTS participantsI1

During a trading window, a VRTS participant may trade any VRTS allowances or VRTS credits with another VRTS participant, but may not trade—

A VRTS participant may trade parts of VRTS allowances or VRTS credits, but may not trade a part smaller than one tenth of a VRTS allowance or VRTS credit.

Each VRTS participant which is party to a trade F2under this article must, before the end of the trading window, notify the administrator of the trade and each notification must include—

A VRTS participant which trades a VRTS allowance or a VRTS credit in accordance with this article must inform the other party to the trade of their account number in the registry.

Where a VRTS participant is a pool VRTS participant, a reference in this article to a VRTS participant’s account number is a reference to the account number of the manufacturer identified to the administrator in accordance with—

Where a trade is notified in accordance with paragraph (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.