PART 2

Basic elements of the UK ETS
CHAPTER 2

Allowances and caps

Allowances
18
1
The UK ETS authority may create allowances in the registry for the purposes of the UK ETS.
2
An allowance is an allowance to emit 1 tonne of carbon dioxide equivalent.
3
Allowances may be held only in accounts in the registry.
Art. 18 in force at 12.11.2020, see art. 2(1)
Art. 18(3) inserted (31.12.2020) by The Greenhouse Gas Emissions Trading Scheme (Amendment) Order 2020 (S.I. 2020/1557), arts. 2(1), 10(3)
Words in art. 18(1) substituted (31.12.2020) by The Greenhouse Gas Emissions Trading Scheme (Amendment) Order 2020 (S.I. 2020/1557), arts. 2(1), 10(2)