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ELECTRICITY SUPPLY ACT 1995 - SECT 97CC
Restrictions on surrender of abatement certificates for benchmark purposes
97CC Restrictions on surrender of abatement certificates for benchmark
purposes
(1) An abatement certificate cannot be surrendered by a benchmark participant
for the purposes of compliance with the participant's greenhouse gas benchmark
unless-- (a) the certificate is registered under this Part and the
registration is in force, and
(b) the certificate was created in relation to
an activity that took place before the end of the compliance period to which
the greenhouse gas benchmark statement relates, and
(c) the participant is
recorded in the register of abatement certificates as the owner of the
certificate.
(2) The Tribunal may, by notice in writing to a benchmark
participant, refuse to accept the surrender of an abatement certificate by the
benchmark participant-- (a) if, in the opinion of the Tribunal, the
certificate cannot be surrendered under this section, or
(b) if, in the
opinion of the Tribunal, the certificate is surplus to the number required to
be surrendered for compliance with the participant's greenhouse gas benchmark
or to abate a greenhouse shortfall.
(3) If the Tribunal accepts the surrender
of an abatement certificate, and the Tribunal is not the Scheme Administrator,
the Tribunal must give the Scheme Administrator notice in writing of the
decision, including details of the abatement certificate surrendered.
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