Closure of aircraft operator holding accounts
Article 26
1. The competent authority shall notify the national administrator within 10 working days of notification by the account holder or of discovering after examining other evidence, that the aircraft operator merged into another aircraft operator or the aircraft operator has ceased all its operations covered by Annex I to Directive 2003/87/EC. 2. The national administrator may close an aircraft operator holding account if the following conditions are fulfilled: (a) notification pursuant to paragraph 1 has been made; (b) the year of last emission is registered in the Union Registry; (c) verified emissions were registered for all years when the aircraft operator was included in the EU ETS; (d) the aircraft operator 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 50(6).