The Vehicle Emissions Trading Schemes Order 2023
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Change 1
50 VRTS credits: general
(1) A VRTS participant may acquire a VRTS credit in accordance with articles 25A, 26A, 51, 52 and 55 to 55B. (2) Where it acquires a VRTS credit for a scheme year, a VRTS participant may— (a) surrender that VRTS credit for that scheme year in accordance with article 59; or (b) trade that credit in accordance with article 57 during the trading window following that scheme year unless the credit was acquired in accordance with article 25A, 26A, 55, 55A or 55B. (3) An SPV van manufacturer may acquire a VRTS credit in accordance with article 53 or 54. (4) An SPV van manufacturer may trade a credit acquired for a scheme year in accordance with article 58 or 58A during the trading window following that scheme year. (5) Where a VRTS participant or an SPV van manufacturer acquires a VRTS credit in accordance with articles 51 to 55B, the administrator must update the registry accordingly (see also the requirement for the administrator to update the registry in articles 25A(7) and 26A(8)).
50 VRTS credits: general
(1) A VRTS participant may acquire a VRTS credit in accordance with articles 25A, 26A, 51, 52 and 55 to 55B. (2) Where it acquires a VRTS credit for a scheme year, a VRTS participant may— (a) surrender that VRTS credit for that scheme year in accordance with article 59; or (b) trade that credit in accordance with article 57 during the trading window following that scheme year unless the credit was acquired in accordance with article 25A, 26A, 55, 55A or 55B. (3) An SPV van manufacturer may acquire a VRTS credit in accordance with article 53 or 54. (4) An SPV van manufacturer may trade a credit acquired for a scheme year in accordance with article 58 or 58A during the trading window following that scheme year. (5) Where a VRTS participant or an SPV van manufacturer acquires a VRTS credit in accordance with articles 51 to 55B, the administrator must update the registry accordingly (see also the requirement for the administrator to update the registry in articles 25A(7) and 26A(8)).
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