{
  "url": "https://openlegislation.uk/vehicle-emissions-trading-schemes-order-2023/article-62",
  "json_url": "https://openlegislation.uk/vehicle-emissions-trading-schemes-order-2023/article-62.json",
  "legislation": "uksi/2023/1394",
  "legislation_title": "The Vehicle Emissions Trading Schemes Order 2023",
  "legislation_url": "https://openlegislation.uk/vehicle-emissions-trading-schemes-order-2023",
  "path": "article/62",
  "kind": "article",
  "number": "62",
  "heading": "Expiry of VRTS allowances and VRTS credits",
  "text": "(1) The administrator must record in the registry the expiry of a VRTS allowance, including a VRTS allowance which has been traded in accordance with article 57, which is—\n(a) surrendered by a VRTS participant in accordance with article 59;\n(b) not surrendered by a VRTS participant for—\n(i) the scheme year for which it was allocated;\n(ii) any of the three subsequent scheme years; or\n(iii) a scheme year earlier than the scheme year for which it was due to be allocated, in accordance with article 47 (borrowing VRTS allowances);\n(c) not surrendered by a former VRTS participant in accordance with article 61(5)(a); ...\n(ca) converted into CRTS credits in accordance with article 23A;\n(cb) converted into CRTS credits pursuant to a trade under article 57A; or\n(d) converted into VCTS allowances in accordance with article 67.\n(2) The administrator must record in the registry the expiry of a VRTS credit, including a VRTS credit which has been traded in accordance with article 57 or 58, which is—\n(a) surrendered by a VRTS participant in accordance with article 59; ...\n(b) not surrendered by a VRTS participant for the scheme year for which the credit was acquired;\n(c) converted into CRTS credits in accordance with article 23B; or\n(d) converted into CRTS credits pursuant to a trade under article 58A.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in art. 62(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), 32(2)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Art. 62(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), 32(2)(b)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Word in art. 62(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), 32(3)(a)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Art. 62(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), 32(3)(b)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Art. 62 in force at 3.1.2024, see art. 1(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2023/1394/article/62",
    "retrieved_at": "2026-10-28T21:36:47.782670+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}