3.—(1) The limit on the net amount of carbon units(1) that may be credited to the net UK carbon account for the 2013-2017 budgetary period is 55,000,000 carbon units.
(2) Carbon units credited to or debited from the net UK carbon account as a result of the operation of the EU ETS in respect of each year of the 2013-2017 budgetary period in accordance with regulations made under section 27(3) of the Climate Change Act 2008 do not count towards the limit in paragraph (1).
See the definition of “carbon units” in regulation 3 of the Carbon Accounting Regulations 2009 (S.I. 2009/1257) which are made in exercise of powers conferred by sections 26(1) and (2), 27 and 90(3) of the Climate Change Act 2008.