CHAPTER VTRANSACTIONS
SECTION 8 Deletion of allowances
Article 63Deletion of allowances
1.
The Union Registry shall carry out any request from an account holder pursuant to Article 12(4) of Directive 2003/87/EC to delete allowances held in the accounts of the account holder by:
(a)
transferring a specified number of allowances from the relevant account into the Union allowance deletion account; and
(b)
recording the number of transferred allowances as deleted for the current year.
2.
Deleted allowances shall not be recorded as surrendered for any emissions.