Gas Emission Allowance Act 2007.

The present Act is made under the European Union Emissions Trading Scheme, which was the first large greenhouse gas emissions trading scheme in the world. In particular, the Act controls emissions of carbon dioxide from any of the activities listed in Annex 1 to the present Act. In particular, the Act lays down provisions relating to competent bodies, trading licences systems, national licences plan, monitoring and information communication, controlling procedures, and penalties. The text consists 24 articles divided into 5 Parts as follows: General provisions (1); Emissions limits (2); Allowances rules (3); Permits (4); Common provisions (5). Two Annexes are enclosed.