SCHEDULES

SCHEDULE 2Trading schemes

Part 1Schemes limiting activities

Allocation of allowances

5

1

The regulations may provide for the allocation among the participants of allowances representing the right to carry on a specified amount of the activities in a trading period.

2

The regulations may set a limit on—

a

the total amount of the activities for a trading period, and

b

the total amount of the allowances to be allocated for the period.

3

The regulations may specify the method of allocation or provide for it to be determined in accordance with the regulations.

4

The regulations may not provide for allowances to be allocated in return for consideration.