These Regulations amend the Greenhouse Gas Emissions Trading Scheme Regulations 2005 consequential to changes in the Directive 2003/87/EC of the European Parliament and the Council establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC. These Regulations provide that the Secretary of State may allocate allowances for the first phase of the scheme by way of auction or sale. The Secretary of State is permitted to enter into agreements with persons who hold accounts in the emissions trading registry to transfer allowances to those persons in exchange for payment.
United Kingdom of Great Britain and Northern Ireland · 2007-02-19