S.L. 643.3 Art. 18Use of CERs and ERUs from project activities in the EU emissions trading scheme for the period 1st January st 2013 to 31 December 2020.

(1) To the extent that the levels of CER and ERU use, allowed to an aircraft operator for the period from 1st January 2012 st to 31 December 2012 have not been used up, or where an entitlement to use credits is granted under sub-regulation (5), the aircraft operator may request to be issued allowances to him valid from 2013 onwards in exchange for CERs and ERUs issued in respect of emission reductions up to 2012 from project types which were eligible for use in the Union scheme during the period from st st st 1 January 2008 to 31 December 2012. Until 31 March 2015, the Authority shall make such an exchange on request.

(2) To the extent that the levels of CER and ERU use, allowed st st to an aircraft operator for the period 1 January 2012 to 31 December 2012 have not been used up, or where an entitlement to use credits is granted under sub-regulation (5), the aircraft operator may exchange CERs and ERUs issued in respect of emission reductions from 2013 onwards from project types that were registered before 2013 and which were eligible for use in the Union st st scheme during the period 1 January 2008 to 31 December 2012, for allowances valid from 2013 onwards.

(3) To the extent that the levels of CER and ERU use, allowed st st to an aircraft operator for the period 1 January 2012 to 31 December 2012, have not been used up, or where an entitlement to use credits is granted under sub-regulation (5), the aircraft operator may exchange CERs issued in respect of emission reductions from 2013 onwards from project types started from 2013 onwards in Least Developed Countries and which were eligible for use in the st st Union scheme during the period from 1 January 2008 to 31 December 2012, for allowances valid from 2013 onwards. This sub-regulation shall apply until such countries have ratified a relevant agreement with the Union or until 2020, whichever is the earlier.

(4) To the extent that the levels of CER and ERU use, allowed to an aircraft operator for the period 1st January 2012 to 31st December 2012 have not been used up, or where an entitlement to use credits is granted under sub-regulation (5), the aircraft operator may use credits from projects or other emission reducing activities in accordance with any agreements that may be concluded by the Union with third countries, up to levels of use as specified in such agreements, to comply with obligations under these regulations. st st

(5) For the period 1 January 2013 to 31 December 2020 an aircraft operator shall be entitled to use an additional quantity of CERs and ERUs up to an amount corresponding to a percentage of st its verified emissions during the period from 1 January 2013 to 31st December 2020, as may be established by the Commission pursuant to Directive 2003/87/EC.

(6) For the purposes of this regulation, aircraft operators shall not use CERs or ERUs for which restrictions on use apply in accordance with relevant decisions and regulations adopted by the Commission pursuant to Directive 2003/87/EC.