5.—(1) An account holder to whom allowances are allocated at an auction must pay, by the settlement date, the total amount due for payment for the allowances allocated.
(2) Payment must be made—
(a)into a nominated bank account,
(b)in sterling or euros, as determined in accordance with the Scheme.
(3) In paragraph (1) “total amount due” means the amount notified to the account holder by the person conducting the auction.