S.L. 643.3 Art. 17Use of CERs and ERUs from project activities in the EU emissions trading scheme for the st period 1 January st 2012 to 31 December 2012.

(1) During the period from 1 January, 2012 to 31

December, 2012 an aircraft operator may use CERs and ERUs up to a quantity equivalent to 15% of the total emissions, in tonnes of carbon dioxide equivalents, in respect of which allowances are required to be surrendered pursuant to regulation 16.

(2) The use of CERs or ERUs by an aircraft operator pursuant to sub-regulation (1) shall take place through the issue and immediate surrender of one allowance by the Authority in exchange for one CER or ERU to be surrendered held by that aircraft operator in the Union registry. CERs and ERUs used in accordance with this regulation by an aircraft operator to meet obligations under regulation 16 shall be subsequently cancelled.

(3) CERs and ERUs that are issued and may be used in accordance with the UNFCCC and the Kyoto Protocol and subsequent decisions adopted thereunder, may be used by an aircraft operator in accordance with sub-regulation (1):

Provided that CERs and ERUs from land use, land use change and forestry activities, and CERs and ERUs generated from nuclear facilities, may not be so used.