The Vehicle Emissions Trading Schemes Order 2023
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Change 1
58 Trading VRTS credits with VRTS participants: SPV van manufacturers
(1) An SPV van manufacturer may trade VRTS credits acquired by it under article 53 or 54 with a VRTS participant in accordance with paragraphs (2) and (3). (2) An SPV car manufacturer may only trade a VRTS credit under this article during the trading window following the scheme year for which the VRTS credit was acquired by the SPV van manufacturer. (3) A trade under this article must comply with paragraphs (2) to (5) of article 57, as if the references to a VRTS participant in those paragraphs (with the exception of the reference in paragraph (3)(b)) include an SPV van manufacturer. (4) Where a trade is notified in accordance with article 57(3), the administrator must update the registry and notify the parties to the trade accordingly. (5) Unless the administrator is satisfied that notification of a trade has been given in accordance with this article, the trade is treated as not having taken place.
58 Trading VRTS credits with VRTS participants: SPV van manufacturers
(1) An SPV van manufacturer may trade VRTS credits acquired by it under article 53 or 54 with a VRTS participant in accordance with paragraphs (2) and (3). (2) An SPV car manufacturer may only trade a VRTS credit under this article during the trading window following the scheme year for which the VRTS credit was acquired by the SPV van manufacturer. (3) A trade under this article must comply with paragraphs (2) to (5) of article 57, as if the references to a VRTS participant in those paragraphs (with the exception of the reference in paragraph (3)(b)) include an SPV van manufacturer. (4) Where a trade is notified in accordance with article 57(3), the administrator must update the registry and notify the parties to the trade accordingly. (5) Unless the administrator is satisfied that notification of a trade has been given in accordance with this article, the trade is treated as not having taken place.
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