(1)It is the duty of the Secretary of State to set a limit on the net amount of carbon units that may be credited to the net UK carbon account for each budgetary period.
(2)The “net amount of carbon units” means—
(a)the amount of carbon units credited to the net UK carbon account for the period in accordance with regulations under section 27, less
(b)the amount of carbon units debited from the net UK carbon account for the period in accordance with such regulations.
(3)The limit for a budgetary period must be set—
(a)for the period 2008-2012, not later than 1st June 2009, and
(b)for any later period, not later than 18 months before the beginning of the period in question.
(4)The Secretary of State must set a limit under this section by order.
(5)The order may provide that carbon units of a description specified in the order do not count towards the limit.
(6)An order under this section is subject to affirmative resolution procedure.
(7)Before laying before Parliament a draft of a statutory instrument containing an order under this section in relation to a budgetary period, the Secretary of State must—
(a)take into account the advice of the Committee on Climate Change under section 34(1)(b) (advice on use of carbon units) in relation to that period, and
(b)consult the other national authorities.