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The Greenhouse Gas Emissions Trading Scheme (Amendment No. 2) Regulations 2007
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- 2007 No. 3433
- Explanatory Note
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EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations amend the Greenhouse Gas Trading Scheme Regulations 2005 (“the 2005 Regulations”) which provide a framework for a greenhouse gas emissions trading scheme and implement Directive 2003/87/EC of the European Parliament and the Council establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC (the “Emissions Trading Directive”).
These Regulations make several technical amendments to the 2005 Regulations and make consequential amendments to reflect the changes in the emissions trading scheme introduced by the UK’s National Allocation Plan for participation in Phase II of the scheme.
Regulations 9, 10 and 21 of these Regulations introduce a new system and process for operators of installations that are late in applying for an allocation under the 2005 Regulations. These operators will apply for an allocation to the fund for late installations, which is part of the new entrant reserve under the National Allocation Plan for Phase II. Under the new system these operators will apply to the regulator rather than the Secretary of State and have their allocation determined in accordance with the formulae introduced by regulation 10.
A full impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.
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