The Vehicle Emissions Trading Schemes (Amendment) (No. 2) Order 2025
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Change 1
33 Amendment of article 67 (conversion of unused VRTS allowances into VCTS allowances)
In article 67, in paragraph (1)— (a) at the beginning of the opening words, insert “During a trading window,”; (b) for sub-paragraph (a) substitute— (a) the participant's number of units of activity in the VRTS in a scheme year, measured in accordance with article 56, does not exceed the sum of— (i) the number of VRTS allowances which were allocated to the participant in accordance with article 45 for that year; and (ii) the number of any VRTS allowances which were banked by the participant in accordance with article 46 and were available for it to use at the beginning of the trading window; .
33 Amendment of article 67 (conversion of unused VRTS allowances into VCTS allowances)
In article 67, in paragraph (1)— (a) at the beginning of the opening words, insert “During a trading window,”; (b) for sub-paragraph (a) substitute— (a) the participant's number of units of activity in the VRTS in a scheme year, measured in accordance with article 56, does not exceed the sum of— (i) the number of VRTS allowances which were allocated to the participant in accordance with article 45 for that year; and (ii) the number of any VRTS allowances which were banked by the participant in accordance with article 46 and were available for it to use at the beginning of the trading window; .
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