Unofficial translation from Finnish language

The official version in Finnish language is to be found by quoting the number of this act at web-site: www.finlex.fi

Act on the Use of the Kyoto Mechanisms

(Act 109/2007)

Adopted in Helsinki 002 Februaiy 2007

In accordance with the decision by Parliament the following has been enacted:

Chapter 1 Section 2 General provisions Scope of application

Section 1 This Act will be applied to: 1) projects under Article 6 of the Kyoto Purpose of the Act Protocol ( projects) in tended to generate Kyoto units to be recorded The purpose of this Act is to provide the in the national registry and implemented out administrative framework for participation in side Finland; project activities under the 2) Joint Implementation projects to be im (Treaty Series of the Statute Book of Finland plemented in Finland; 12—13/2005) to the UN Framework Con 3) projects under Article 12 of the Kyoto vention on (UNFCCC), Protocol (Clean Development Mechanism hereinafter the Kyoto Protocol, and emis projects) intended to generate Kyoto units to sions trading under the Protocol, and to lay be recorded in the national registry; down provisions for the operation of the reg 4) activities under Article 17 of the Kyoto istry established under the Protocol (international emissions trading) by Act (683/2004) as the national registry re which Kyoto units are transferred between an quired for the implementation of the Kyoto account in the national registry and an ac Protocol. count in another registry connected to the In- 2

ternational Transaction Log of the Climate ments of Article 4 of the Kyoto Protocol and Change Convention; and other Protocol commitments, and that has 5) the holding of Kyoto units in accounts in been reviewed for the first commitment pe the national registry as well as transfers of riod in accordance with the process pursuant such units to and from accounts in the na to Article 8 of the Kyoto Protocol; if a corre tional registry. sponding amount of assigned emissions is However, with the exception of subsection adopted for a corresponding purpose for the 1 (2) of section 26 and section 29, this Act subsequent commitment period or periods, will not be applied to the holding of allow the assigned amount refers to this amount of ances referred to in the Emissions Trading emissions; Act in accounts in the national registry or the 7) (AAU) means a transfer of allowances to and from an ac unit of the assigned amount equalling one count in the national registry. metric tonne of carbon dioxide equivalent: 8) removal unit (RMU) means a unit issued pursuant to Article 3 (3 and 4) of the Kyoto C; Section 3 Protocol and relevant decisions by the COP/MOP for an increase in net removals of Definitions greenhouse gases from the atmosphere dur ing a specified time period as a result of ac For the purposes of this act: tivities implemented within the territory or 1) Climate Change Convention means the exclusive economic zone of an Annex I United Nations Framework Convention on Party, and which is equal to one metric tonne Climate Change (TJNFCCC) (Treaty Series of carbon dioxide equivalent; of the Statute Book of Finland 61/1994); 9) host country means the country on 2) Kyoto Protocol means the protocol re whose territory or exclusive economic zone ferred to under section 1; a Joint Implementation or Clean Develop 3) Annex I Party means a party mentioned ment Mechanism project is implemented; in Annex I of the Climate Change Conven 10) participating country means an Annex tion, specified in Article 1 (7) of the Kyoto I Party which itself participates or which has Protocol; authorised a legal entity to participate in a 4) decision by the COP/MOP means a de Joint Implementation project and which is cision adopted by the Conference of the Par not the host country; ties to the Climate Change Convention serv 11) emission reduction unit (ERU) means a ing as the meeting of the Parties to the Proto unit generated by a project implemented in col, referred to in the Kyoto Protocol; the territory or exclusive economic zone of 5) commitment period means the consecu an Annex I Party, which is issued pursuant to tive time periods for which the Kyoto Proto Article 6 of the Kyoto Protocol and relevant C col or any amendments to the Protocol in decisions by the COP/MOP, and which is scribe state-specific emission limitation and equal to one metric tonne of carbon dioxide reduction commitments, the first beginning equivalent; on 1 January 2008 and ending on 31 Decem 12) certUied emission reduction (CER) ber 2012; means a unit generated by a project imple 6) assigned amount means the highest al mented in the territory or the exclusive eco lowable amount of emissions nomic zone of a country not included in An resulting from activities in the Annex I Party, nex I of the Protocol, issued pursuant to Arti mentioned in subsection 3, that has been cal cle 12 of the Kyoto Protocol and relevant de culated in accordance with Article 3 (7) of cisions by the COP/MOP, and which is equal the Kyoto Protocol, relevant decisions by the to one metric tonne of carbon dioxide COP/MOP and, when involving a European equivalent; Union Member State, the provisions under 13) Kyoto unit means an assigned amount Union legislation on meeting the require- unit (AAU), a removal unit (RMU), an emis 3

sion reduction unit (ERU) or a certified the national registry pursuant to the Commis emission reduction (CER); sion registries regulation on holding Kyoto 14) International Transaction Log of the units, the purpose of which is to demonstrate Climate Change Convention means an im compliance with Finland’s emission limita partial transaction log, maintained by the Se tion and reduction commitments under Arti cretariat of the Climate Change Convention, cle 3 (1) of the Kyoto Protocol; and established in accordance with the relevant 23) cancellation account means the ac decisions by the COP/MOP to monitor com count established by the registry administra pliance with the commitments and restric tor in the national registry in accordance with tions concerning intemational transfers of the Commission registries regulation and Kyoto units, and assigned amounts; relevant decisions by the COP/MOP, to 15) Community Emissions Trading which Kyoto units are transferred, disabling Scheme, covering the Member States of the any state to use them to demonstrate its com European Union, means an arrangement in pliance with the emission limitation and re accordance with Directive 2003/87/BC of the duction commitments under Article 3 (1) of European Parliament and of the Council es the Kyoto Protocol. tablishing a scheme for greenhouse gas emis sion allowance trading within the Commu nity and amending Council Directive 96/6 1/EC, hereinafter the Emission Trading Chapter 2 Directive, that provides for trading in as signed amount units converted into allow Participation in projects and international ances within the Community; emissions trading 16) Commission registries regulation means Commission Regulation (BC) No Section 4 2216/2004 for a standardised and secured system of registries pursuant to Directive Decision-making on particlpation in the 2003/87/BC of the European Parliament and Kyoto Mechanisms of the Council and Decision No 280/2004/EC of the European Parliament and of the Coun Pursuant to Article 6 (1 a) of the Kyoto cil; Protocol, any decision on the approval of a 17) national registry means a registry re project as a Joint Implementation project to ferred to in section 42 (1) of the Emissions be issued in the name of the State of Finland Trading Act; is made by the Ministry of the Environment. 19) registry administrator means the com The Ministry of the Environment also takes petent authority referred to in the Emissions decisions on any authorisation, pursuant to Trading Act; Article 6 (3) of the Kyoto Protocol, issued in 19) holding account means an account the name of the State of Finland, for partici opened in the national registry for holding of pation in such a project or preparation allowances referred to in the Emissions Trad thereof. ing Act, with the exception of retirement and Any decision on the approval of a project cancellation accounts; as a Clean Development Mechanism project 20) Party holding account means the hold given in the name of the State of Finland is ing account of a Party, held in the national made by the Ministry for Foreign Affairs. registry, referred to in the Commission regis The Ministry for Foreign Affairs also takes tries regulation; decisions on authorisations given in the name 21) account holder means anyone for of the State of Finland with respect to par whom the registry administrator has opened ticipation in such a project or preparation an account in the national registry; thereof. 22) retirement account means the account Decisions on separate authorisations given established by the registry administrator in in the name of the State of Finland for hold- 4

ing Kyoto units in a holding account in the shall be defined, at least for each host coun national registry and making transfers under try and project type. international emissions trading to and from Authorisation cannot concern the authority this account are made by the Ministry of the to grant approval referred to in section 7. Enviromnent. The Ministry of the Environ Project-specific authorisation is valid for ment also participates in international emis the time period during which the authorised sions trading on behalf of the State of legal person has the opportunity to acquire Finland. Kyoto units generated by the project. Authorisation concerning preparation of a project is given for a specific period of time, and for a maximum of five years. Section 5 If more than one applicant is granted au thorisation to participate in the same project, Authorisation for Joint Implementation and each applicant must be granted separate au Clean Development Mechanism when the thorisation. C project is implemented outside Finland

Authorisation to participate in a Joint Im plementation project or a Clean Development Section 7 Mechanism project outside Finland or prepa ration thereof is given upon application to: Approval of a project to be implemented out 1) an operator referred to in the Emissions side Finland as a Joint Implementation or Trading Act with a valid emission permit; or Clean Development Mechanism project 2) a legal person other than an operator re ferred to in paragraph 1 with solid financial The approval of the State of Finland of a status and a domicile in Finland, who is also project as a Joint Implementation or a Clean in other respects deemed to have a genuine Development Mechanism project to be im opportunity to participate in a project in ac plemented outside Finland is given upon ap cordance with Finland’s international com plication by a legal person granted an au mitments. thorisation pursuant to section 5 if: Such authorisation cannot concern a project 1) the applicant is a participant in the pro which prima fade cannot be approved as a ject; Joint Implementation or a Clean Develop 2) Kyoto units generated by the project are ment Mechanism project pursuant to section intended to be recorded in the holding ac 7. count held by the applicant in the national Applications for authorisation and approval registry; pursuant to section 7 can also be filed simul 3) the host country of the project is a Party C taneously. to the Kyoto Protocol and has, on its own be half, approved the project as a Joint Imple mentation or a Clean Development Mecha Section 6 nism project; and 4) in terms of its objectives and planned Contents and duration of an authorisation implementation, the project meets the re regarding a project implemented outside quirements under the Kyoto Protocol, the Finland relevant decisions by the COP/MOP and Ar ticle 11 b (6) of the Emissions Trading Direc Authorisation given pursuant to section 5 tive and can also be deemed practicable in above shall include a definition of the project other respects. or projects it concerns or, if the authorisation However, approval will be denied if the concerns the preparation of one or more pro project’s contents or way of implementation jects, the authorities granted to the applicant infringe the principles of international co 5

operation approved by Finland or interna Section 9 tional legal obligations of Finland, or if granting such approval would in other re Approval of a project as a Joint Implementa spects be likely to prove harmful to Finland’s tion project to be implemented in Finland national interests. and authorisation included therein A ministry decision to grant approval for a project with the State of Finland as a partici Approval by the State of Finland of a pro pant can be made without an application. In ject to be implemented in the territory or ex other respects, the conditions of approval clusive economic zone of Finland as a Joint may not deviate from what has been laid Implementation project can be granted upon down in subsections 1 and 2 above. application if: 1) the country or countries intending to participate in the project are Parties to the Kyoto Protocol with a quantified emission Section 8 limitation and reduction commitment in scribed in Annex B of the Protocol; Granting authorisation and approval for a 2) the applicant is a legal person domiciled fund in Finland; 3) the applicant has solid financial status Notwithstanding the provisions of section 5 and has a genuine opportunity to participate (1) on the domicile of the legal person the in the project in other respects; authorisation is granted to, an authorisation 4) in terms of its contents, the project pursuant to section 5 can be given to a for meets the requirements under the Kyoto Pro eign legal person managing a fund: tocol, the relevant decisions by the 1) which the State of Finland has joined; COP/MOP and Article 11 b (6) of the Emis and sion Trading Directive, and it can also be 2) the funds of which are being utilised for deemed practicable in other respects; the preparation and implementation of Joint 5) the project can be implemented in ac Implementation projects or Clean Develop cordance with the legislation applied in ment Mechanism projects, the parties having Finland; and joined the fund being entitled to receive a 6) an acceptable plan exists for monitoring certain share of the Kyoto units generated by emissions occurring within the scope of the these projects. project and verifying the emission reductions Notwithstanding the provisions of section 7 generated by it. (1, item 2), approval pursuant to section 7 Approval will not be granted for any pro can also be granted to a project for which an ject that reduces the greenhouse gas emis authorisation has been granted pursuant to sions of an installation participating in the subsection 1. Community Emissions Trading Scheme. If necessary due to the operating principles If the project has not been granted approval of the fund or nature of the projects, an au as a Joint Implementation project by another thorisation referred to in subsection 1 can participating country, obtaining such ap also be applied to both Joint Implementation proval must be set as a precondition for put projects and Clean Development Mechanism ting into effect any approval granted in the projects, in which case the authorisation will name of the State of Finland. be granted by the ministry, referred to in sec Approval granted for a project also in tion 4, the authorisation of which covers a cludes any authorisation to participate in the larger share of the fund’s activities, after con project in question issued to the applicant in sultation with the other ministry involved. the name of the State of Finland. The provi sions of section 6 (3 and 5) will be applied to the contents and duration of the authorisa tion. 6

A ministry decision on granting an ap the Openness of Government Activities proval for a project in which the State of (621/1999), the Act on Electronic Services Finland is one of the participants can be and Communication in the Public Sector made without an application. In other re 13/2003), the Administrative Procedure Act spects, the conditions of approval may not 434/2003) and the Language Act deviate from what has been laid down here 423/2003). inabove in this section. When approving a verifier, the Ministry of the Environment may attach certain condi tions to its approval decision, necessary for Section 10 ensuring the appropriate implementation of the verification process. Further provisions Verflcation of emission reduction units of a on the monitoring of emissions, the report to Joint Implementation project to be imple be filed on the emissions, the verifier’s state mented in Finland and approval of the veri ment, the approval procedure of the verifier, fier the evaluation of approval criteria and the n implementation of the verification process For the purpose of verifying the emission may be provided by the Ministry of the Envi reduction units of a Joint Implementation ronment decree. project to be implemented in Finland, a veri fier approved for the project in question by the Ministry of the Environment must be Section 11 used. The competency requirements for the veri Cancellation of approval of a verJIer fier are that: 1) the verifier is a legal person or part of a If the verifier no longer meets the require legal person registered in Finland or some ments pursuant to section 10 or commits a other Member State of the European Eco fundamental breach of the regulations and nomic Area; criteria of the approval decision, the Ministry 2) the verifier is operationally and finan of the Environment must request that the cially independent of the project to be veri verifier rectify his actions within a certain fied; period of time. If the verifier fails to meet the 3) the verifier has at his disposal the neces requirements of the regulations and permit sary financial resources for the appropriate conditions within the period of time pre organisation of the activities and coverage of scribed, the Ministry of the Environment eventual compensation liabilities; may cancel the approval of the verifier in 4) the verifier has access to the equipment, question. tools and work and data management sys C tems required for carrying out his work; 5) the verifier has at his disposal sufficient Section 12 competent personnel for evaluating the with respect to the Appealing against the verifier’s statement project under verification, taking into ac count the characteristics of the project; and The verifier’s statement can be appealed 6) the verifier has sufficient understanding against, such an appeal being made directly of the Climate Change Convention and the to the verifier within 14 days of notification regulations and decisions concerning Joint of the statement. The statement must be ac Implementation projects under the Kyoto companied by instructions on how to appeal Protocol. for the correction of a decision. When carrying out the administrative du Any appeal against the decision given by ties prescribed by law, the verifier must ob the verifier in accordance with the correction serve the provisions laid down in the Act on procedure shall be lodged in an Administra 7

tive Court in accordance with the Adminis Section 14 trative Judicial Procedure Act (586/1996). Progress report on the project

Section 13 The competent authority granting authori sations may order that a legal person granted Issuance of emission reduction units inpro authorisation for participation in a Joint Im jects implemented in Finland plementation or Clean Development Mecha nism project or preparation thereof submit, at The Ministry of the Environment shall take regular intervals, a report on the progress of any decisions on the issuance of emission re the project or its preparation and on the pro duction units generated by a Joint Implemen ject’s participating countries. tation project implemented in Finland upon application by the legal person authorised to participate in the project or, if the participant is the State of Finland, on its own initiative Section 15 after having received the report on emission reductions generated by the project drawn up Authorisation for holding Kyoto units in an in accordance with the verification plan pre account and transfers in international emis sented upon the approval of the project. The sions trading issuance decision shall apply to the amount of emission reduction units generated after Authorisation is required for holding Kyoto the previous issuance decision. In the same units in any holding account other than the connection, the Ministry shall also decide on one held by the State. the issuance of these emission reduction units An operator referred to in the Emissions into the Party holding account in the national Trading Act with a valid emission permit, as registry by converting an equal number of well as a legal person granted an authorisa assigned amount units or removal units held tion under this Act to participate in a Joint in the account into emission reduction units. Implementation project or a Clean Develop Correspondingly, upon the request of an ment Mechanism project has, pursuant to this authorised legal person or on the basis of an subsection, authorisation to hold all Kyoto agreement made, the Ministry of the Envi units in his holding account in the national ronment shall decide on transferring these registry. emission reduction units to the accounts of Authorisation to hold all types of Kyoto the participating countries and legal entities units in a holding account may be granted to operating under their authorisation. persons other than the legal person referred The number of emission reduction units to to in subsection 2 upon application, if the ap be recorded in the account pursuant to sub plicant has a sound financial status and has section 1 above may not exceed the number genuine opportunities to participate in inter corresponding to the actual generated emis national emissions trading in accordance sion reductions. with the requirements of the Kyoto Protocol If the State of Finland fails to meet the eli and the relevant decisions by the COP/MOP. gibility requirements set out for a Joint Im A decision on granting said authorisation plementation project host country under the shall be made by the Ministry of the Envi relevant decisions by the COP/MOP, the re ronment. port referred to in subsection 1 must be based The authorisation referred to in subsection on the verification procedure required in such 3 above shall be given for a specific period a situation in accordance with the relevant of time, limited to one commitment period at decisions by the COP/MOP. a maximum and, subsequently, four months at a time. 8

The authorisation referred to in subsections the authorisation or one month from the 2 and 3 above includes any authorisation specified due date for the cancellation, make granted to the authorised legal person to the necessary requests to the registry admin transfer Kyoto units within the framework of istrator to have these units transferred from international emissions trading between his his account. If this procedure is not followed, holding account in the national registry and the units left on the account shall be auc another account in a registry connected to the tioned by the registry administrator with ex International Transaction Log of the Climate penses charged to the account holder, and the Change Convention not belonging to the registry administrator shall transfer the units Community Emissions Trading Scheme. to the holding account of the new owner. Subsection 1 of this section does not apply to Kyoto units held in a holding account, the closing of which is covered by section 4 of Section 16 chapter III of the Commission registries regulations. Cancellation of authorisation

An authorisation concerning participation in a Joint Implementation or Clean Devel Section 18 opment Mechanism project or preparation thereof as well as separate authorisation to Cancellation of approval for a project hold Kyoto units on a holding account may be fully or partially cancelled, if the require Approval granted for a Joint Implementa ments for granting the authorisation are no tion or Clean Development Mechanism pro longer met. ject to be implemented outside Finland may The authorisation may be cancelled as a re be cancelled if the host country of the pro sult of neglecting the reporting obligation re jects ceases to be a Party to the Kyoto Proto ferred to under section 14 until the authorised col. legal person has provided the required report. Approval granted for a project to be im The authorisation may also be cancelled if plemented in Finland may be cancelled if the the authorised legal person exceeds the au participating country of the project ceases to thority granted to him under the authorisation be a Party to the Kyoto Protocol. with intent or through negligence, or neglects Any such approval shall be cancelled by to fulfil his duties in accordance with the au the issuer of the approval. thorisation. The authorisation shall be cancelled by the issuer of the authorisation. Section 19 NotfIcation of authorisation and approval Section 17 The registry administrator must be notified Measures resulting from cancellation of au of any decision concerning the authorisation thorisation to hold Kyoto units or approval of a project as well as cancella tion thereof. If the account holder ceases to have valid The registry administrator shall hold a pub authorisation in accordance with section 15 lic list of people who have authorisation above and the account holder has Kyoto units granted by a competent Finnish authority, left in his holding account, the account and of any projects granted approval by holder shall, within two months of notifica Finland. tion of the decision leading to cancellation of 9

Section 20 1) keeping a record of the issuance, hold ing, transfer and acquisition of Kyoto units, Authorisation to issue decrees concerning as well as the transfer of Kyoto units to re the contents of applications and reports tirement and cancellation accounts and the carry-over of Kyoto units to the next com The ministry tasked with granting approval mitment period; and authorisations for projects shall issue de 2) carrying out the transfers of Kyoto units crees concerning the contents of applications between the accounts in the national registry for approval or authorisation. The ministry and between an account in the national regis can also issue provisions by decree on the try and another account in a registry con contents of any reports concerning the pro nected to the International Transaction Log gress of the project or preparation thereof. of the Climate Change Convention not be longing to the Community Emissions Trad ing Scheme and; Section 21 3) carrying out the conversion of an as signed amount unit and removal unit into International agreements concerning Joint emission reduction units. Implementation projects

The Ministry of the Environment can make Section 23 agreements with a competent authority of a country that is a Party to the Kyoto Protocol, Holder of the Party holding account mentioned in Annex B of the Protocol, on implementing individual Joint Implementa The Ministry of the Environment shall act tion projects in the country in question. as the holder of the Party holding account in However, such agreements may not concern the national registry. matters that fall within the scope of legisla As the holder of the Party holding account, tion or otherwise require parliamentary ap the Ministry of the Environment shall con proval. firm: 1) at the beginning of each commitment pe riod, Finland’s assigned amount to be issued Chapter 3 into the Party holding account in the national registry after the completion of the review Operation of the national registry process referred to in Article 8 of the Kyoto Protocol; Section 22 2) on the basis of a report by Statistics Finland, the number of those still unregis National registry and the tasks of the registry tered removal units generated in various administrator ways in Finland during the commitment pe riod, to be issued into the Party holding ac The national registry shall act as Finland’s count in the national registry after the com registry required in accordance with the rele pletion of the review process referred to in vant decisions by the COP/MOP and the Article 8 of the Kyoto Protocol; Commission registries regulation. 3) at the beginning of each commitment pe In addition to what has been provided riod, the date chosen for issuing the removal elsewhere and pursuant to the relevant deci units generated in various ways in Finland sions by the COP/MOP, the Commission during the commitment period, after having registries regulation and provisions of this consulted the Ministry of Agriculture and Act, by using the national registry the regis Forestry. try administrator shall be responsible for: The Ministry of the Environment shall also take any decisions on the transfer of Kyoto 10

units from the Party holding account to the tion 15 above and into which the holder of retirement or cancellation account, unless the this other registry has directed them, unless obligation with respect to such transfers is the transfer contravenes the provisions of the assigned to the registry administrator under Kyoto Protocol, relevant decisions by the the Commission registries regulation or this COP/MOP or community regulations. Act without any specific assignment. The provisions concerning the obligation of the registry administrator to make trans fers of Kyoto units between accounts belong Section 24 ing to the Community Emissions Trading Scheme are laid down under the Commission Initial issuance of assigned amount units and registries regulation. removal units If the registry administrator comes to the conclusion that he cannot carry out the trans At the beginning of each commitment pe fer in accordance with the account holder’s riod, the registry administrator shall issue as request, he must notify the account holder signed amount units into the Party holding immediately and specify the reason for which account as requested by the account holder. the transfer cannot be implemented. Similarly, at the end of each commitment pe riod or of each year within the commitment period, the registry administrator shall issue Section 26 removal units into the Party holding account as requested by the account holder. General limitation on transfer of Kyoto units

Approval or authorisation granted under this Act does not give the right to have Kyoto Section 25 units transferred to or from an account in the national registry if: Transfers of Kyoto units between accounts 1) the transfer itself would violate the pro visions of the Kyoto Protocol, relevant deci The registry administrator shall carry out sions by the COP/MOP or community legis transfers of Kyoto units, for which the ac lation; or count holder has authorisation referred to in 2) the transfer would lead to a situation in section 15 above and in accordance with the which, as regards combined holdings on account holder’s requests, from the account holding accounts and retirement accounts: holder’s holding account in the national regis a) the total amount of all allowances and try, to another account in a registry con Kyoto units would fall below the limit pre nected to the International Transaction Log scribed by the relevant decisions by the C of the Climate Change Convention not be COP/MOP; or longing to the Community Emissions Trad b) the total amount of Kyoto units gener ing Scheme, unless the transfer is against the ated by certain kinds of projects would ex provisions of the Kyoto Protocol, relevant ceed the limit prescribed by the relevant de decisions by the COP/MOP or community cisions by the COP/MOP. regulations. If it is necessary to limit transfers of Kyoto Similarly, the registry administrator shall units from an account in the national registry record the transfers of Kyoto units from an for a reason specified under subsection 1, account in a registry connected to the Inter item 2a above, the registry administrator national Transaction Log of the Climate shall keep the transfer requests received and, Change Convention not belonging to the after the reason for the limitation has been Community Emissions Trading Scheme, to removed, process the requests in the order of an account in the national registry, whose their arrival. holder has an authorisation referred to in sec 11

Section 27 the registry administrator shall transfer such an amount of units referred to subsec Transfer of Kyoto units to retirement and tion 2, item 1 above from holding accounts to cancellation accounts the cancellation account, so that the limit re ferred to subsection 2, item 2 above for the The registry administrator shall carry out Kyoto unit type in question is reached. In transfers of Kyoto units from different ac such a case, the Kyoto unit type in question counts in the national registry to the retire shall be transferred from each holding ac ment account upon the account holder’s re count in proportion to the share of such quest or to cancellation accounts either in Kyoto units in that holding account com cases specified by the Commission registries pared to the total quantity of such Kyoto regulation or upon the account holder’s re units held in all holding accounts. quest. If a transfer carried out for some rea If the application of section 2 would mean son other than upon request requires making the transfer of part of a Kyoto unit, then a a choice between different Kyoto unit types, whole unit shall be transferred. the registry administrator must give the ac The registry administrator must, in good count holder an opportunity to make this time and before the end of the additional pe choice. riod for fulfilling commitments, remind the account holders of the obligations provided for the registry administrator under this para graph. Section 28

Limitations on the carry-over ofKyoto units to the next commitmentperiod Section 29

After the additional period for fulfilling Monitoring of total reserve of Kyoto units commitments following the end of the com mitment period, prescribed by the relevant It is the Ministry of the Environment’s duty decisions by the COP/MOP, the registry ad to monitor the development of the total re ministrator shall transfer to the cancellation serve of Kyoto units held in the national reg account removal units and such emission re istry. For this purpose, the registry adminis duction units generated during the previous trator must regularly inform the Ministry of commitment period that have been converted the Environment of the total quantities of al from removal units and held in the holding lowances and Kyoto units held in the ac account of each account holder. counts of all operators referred to in the If, at the end of the additional period for Emissions Trading Act as well as in the ac fulfilling commitments and after the proce counts of all other account holders as well as dure in accordance with subsection 1 above the amount of Kyoto units held in the retire has been carried out: ment account. 1) such emission reduction units or certi fied emission reductions that were generated before the end of the commitment period are Section 30 still held in the holding accounts in the na tional registry and Publicity of registry information 2) the combined amount of such units held in all holding accounts for one or both of the The publicity provisions laid down in the Kyoto unit types is greater than 2.5 per cent Commission registries regulation apply to of the assigned amount set for Finland for the publicity on information held in the national previous commitment period, registry. C.

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Chapter 4 ing the maintenance of national registry ac counts are laid down in the Emissions Trad Further provisions ing Act.

Section 31 Chapter 5 Appeals Entry into force

Decisions made by a ministry or the regis Section 33 try administrator under this Act may be ap pealed against under the provisions of the Entry intoforce of the Act Administrative Judicial Procedure Act. This Act will enter into force on 12 Febru ary, 2007. Section 32 Section 34 0 Charges for official services Authorisations and approvals granted before the Act’s entry intoforce The fees to be charged for ministry deci sions concerning authorisation or approval What has been laid down under this Act are determined by decree of the ministry in shall have no effect on the validity of au question pursuant to the provisions of the Act thorisations and approvals concerning Joint on Criteria for Charges Payable to the State Implementation and Clean Development (150/1992). Mechanism projects granted before the Act’s Provisions concerning the registry adminis entry into force. trator’s right to charge fees for tasks concern-

Adopted in Helsinki on 2 February 2007

President of the Republic

Tarja Halonen

Minister of Trade and Industry Mauri Pekkarinen