Closure of operator holding accounts
Article 25
1. The competent authority shall notify the national administrator within 10 working days of the withdrawal of a greenhouse gas emissions permit or knowledge of cessation of operation of an installation. Within 10 working days of such a notification, the national administrator shall record the relevant date in the Union Registry. 2. The national administrator may close an operator holding account if the following conditions are fulfilled: (a) the installation ceased operation or the greenhouse gas emissions permit was withdrawn; (b) the year of last emission is registered in the Union Registry; (c) verified emissions were registered for all years when the operator was included in the EU ETS; (d) the operator of the relevant installation has surrendered an amount of allowances equal to or greater than its verified emissions; (e) no return of excess allowances is pending pursuant to Article 48(4).