The Community Emissions Trading Scheme (Allocation of Allowances for Payment) Regulations 2012
These Regulations make provision for the allocation of Community tradeable emissions allowances (“allowances”) in accordance with Commission Regulation (EU) No. 1031/2010 of 12 November 2010 on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances pursuant to Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowances trading within the Community (the “Auctioning Regulation”). The Auctioning Regulation lays down a process for auctioning allowances under Chapter II (aviation) or Chapter III (stationary installations) of the Directive, which are valid for surrender against emissions occurring on or after 1st January 2013 (“Phase III allowances”).