33The net Welsh emissions accountE+W
(1)The “net Welsh emissions account” for a period is the amount calculated as follows—
(a)determine the amount of net Welsh emissions of greenhouse gases for the period in accordance with section 34;
(b)subtract the amount of carbon units credited to the net Welsh emissions account for the period;
(c)add the amount of carbon units debited from the net Welsh emissions account for the period.
(2)The Welsh Ministers may by regulations make provision about—
(a)the circumstances in which carbon units may be credited to the net Welsh emissions account for a period;
(b)the circumstances in which carbon units must be debited from the net Welsh emissions account for a period;
(c)how this is to be done.
(3)The regulations must contain provision for ensuring that carbon units that are credited to the net Welsh emissions account for a period cease to be available to offset other greenhouse gas emissions.
(4)The Welsh Ministers must by regulations set a limit on the net amount of carbon units by which the net Welsh emissions account for a period may be reduced as a result of applying subsection (1)(b) and (c).
(5)The regulations may provide that carbon units of a description specified in the regulations do not count towards the limit.