Carbon accounting scheme
5.—(1) The Scottish Ministers must on or before 1st August 2010 instruct the registry administrator to open an account (“the Scottish credit account”) in the UK registry.
(2) The Scottish credit account—
(a)must be used to hold a carbon unit that is to be credited to the net Scottish emissions account; and
(b)may be used to hold any other carbon unit.
(3) The Scottish Ministers may only instruct the registry administrator to transfer a carbon unit from the Scottish credit account—
(a)for cancellation; or
(b)to the credit account opened in accordance with regulation 4 of the 2009 Regulations.
(4) The Scottish Ministers may only instruct a transfer under paragraph 3(b) if they are satisfied that the carbon unit will be credited to the net UK carbon account in accordance with regulation 5 of the 2009 Regulations.