- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
100.—(1) The penalties in paragraphs (2) and (3) apply where—
(a)a participant fails to surrender sufficient allowances contrary to Part 6; and
(b)that failure is apparent to the administrator at the time compliance is required,
but do not apply where a penalty is imposed under article 97(4) or (5).
(2) The penalties are—
(a)the participant must—
(i)immediately acquire such additional allowances as are equal to the amount which should have been surrendered (“the shortfall allowances”); and
(ii)surrender the shortfall allowances in accordance with Part 6;
(b)a financial penalty of £40 per tCO2 of so much of the emissions represented by the shortfall allowances;
(c)publication; and
(d)blocking.
(3) Where a participant—
(a)fails to comply with paragraph (2)(a) by the 31st March after the surrender should have been made; and
(b)continues in the scheme,
the shortfall allowances are added to the quantity of allowances required to be surrendered in the next year that compliance with Part 6 is required.
The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Instrument you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: