Limit on the net amount of carbon units
3.—(1) The limit on the net amount of carbon units that may be credited to the net UK carbon account for the 2008–2012 budgetary period is zero carbon units.
(2) The following carbon units do not count towards the limit in paragraph (1)—
(a)carbon units credited to or debited from the net UK carbon account in accordance with regulation 6 of the Carbon Accounting Regulations 2009(1); and
(b)European Union allowances which are both—
(i)acquired by the administrator of a trading scheme established in accordance with Part 3 of the Climate Change Act 2008; and
(ii)credited to the net UK carbon account in accordance with regulation 5 of those Regulations.
(3) In paragraph (2), “European Union allowance” has the meaning given by regulation 2 of those Regulations.