Article 6 Administration of the Trading SchemesI1

United Kingdom

(1)

The Secretary of State is appointed as the administrator of the Trading Schemes.

(2)

The administrator must establish an electronic system (“the registry”) for the purposes of the Trading Schemes, in particular to keep track of—

(a)

participants in the schemes;

(b)

the allocation of allowances to participants;

(c)

the acquisition of credits by participants and SPV manufacturers;

(d)

the trading of allowances and credits by participants and SPV manufacturers; and

(e)

the surrender or expiry of allowances and credits.

(3)

The administrator must create an account in the registry for—

(a)

each manufacturer which is a participant in the Trading Schemes, or which is a member of a pool participant in the Trading Schemes; and

(b)

each SPV manufacturer.

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