Issuance and Deposit of AAUs

1. Prior to the retirement transaction in accordance with Article 11(3) of Regulation (EU) No 525/2013 of the European Parliament and of the Council ( *1 ) , the central administrator shall:

issue a number of AAUs equal to the Union assigned amount determined in accordance with Council Decision (EU) 2015/1339 ( *2 ) in the EU AAU Account in the Union Registry;

immediately transfer a number of AAUs equal to the number of general allowances created pursuant to Commission Decision 2010/634/EU ( *3 ) from the EU AAU Account to the ETS AAU Deposit Account in the Union Registry.

2. At the latest 3 months after the closure of the ESD Compliance Account for 2020 pursuant to Article 31, each national administrator shall:

issue a number of AAUs equal to its respective Member State assigned amount determined pursuant to the Ratification Decision in a Party holding Account in its KP registry;

immediately transfer a number of AAUs equal to the total number of AEAs corresponding to the annual emission allocation for its Member State for all years pursuant to Article 3(2) of Decision No 406/2009/EC as determined prior to any amendment pursuant to Article 27(2) of Regulation (EU) No 525/2013 from the Party holding Account to the ESD AAU Deposit Account in its KP registry.

3. Before the completion of the clearing processes pursuant to Article 73f, the central administrator shall ensure that the EUTL prevents all transactions of AAUs from the ETS AAU Deposit Account or from the ESD AAU Deposit Accounts, with the exception of:

the cancellation or the transfer of a number of AAUs less than or equal to the number of AEAs transferred to the ESD Deletion Account pursuant to Article 88(2);

the retirement of a number of AAUs in accordance with Article 11(3) of Regulation (EU) No 525/2013, equal to the number of AEAs transferred to the ESD Deletion Account pursuant to Article 31(4) of this Regulation corresponding to the quantity of GHG emissions entered in the ESD Compliance Account pursuant to Article 77 of this Regulation;

the cancellation or the transfer of a number of AAUs less than or equal to the number of AEAs transferred to the ESD Deletion Account pursuant to Article 31(4) that exceed the quantity of GHG emissions entered in the ESD Compliance Account pursuant to Article 77;

transfers required for the purposes of the clearing processes pursuant to Article 73f;

the conversion of AAUs into ERUs, provided that a number of AEAs equal to the number of AAUs to be converted plus the number of ERUs required to satisfy the share of proceeds levy referred to in Article 10(1) of Regulation (EU) No 525/2013 have been transferred to the ESD Deletion Account pursuant to Article 31(4) of this Regulation.

COMMISSION DELEGATED REGULATION (EU) 2015/1844 of 13 July 2015 amending Regulation (EU) No 389/2013 as regards the technical implementation of the Kyoto Protocol after 2012 ANNEX