TITLE IGENERAL PROVISIONS
CHAPTER 3 Accounts
Article 25Closure of operator holding accounts
1.
The competent authority shall notify the national administrator within 10 working days of the withdrawal of a greenhouse gas emissions permit or knowledge of cessation of operation of an installation. Within 10 working days of such a notification, the national administrator shall record the relevant date in the Union Registry.
2.
The national administrator may close an operator holding account if the following conditions are fulfilled:
(a)
the installation ceased operation or the greenhouse gas emissions permit was withdrawn;
(b)
the year of last emission is registered in the Union Registry;
(c)
verified emissions were registered for all years when the operator was included in the EU ETS;
(d)
the operator of the relevant installation has surrendered an amount of allowances equal to or greater than its verified emissions;
(e)
no return of excess allowances is pending pursuant to Article 48(4).