44I.— F107[(1) The Agency shall notify each obligated party in such form as the Agency determines within 60 days after the end of the obligation period concerned of—

(a) the renewable transport fuel obligation relating to the obligated party for that period,

(b) the advanced biofuel obligation relating to the obligated party for that period

(c) the renewable transport fuel obligation certificates (if any) held against the renewable transport fuel obligation account concerning (a) and (b) above which may be counted towards the discharge of the renewable transport fuel obligation, and advanced biofuel obligation respectively for that period.

(d) the renewable transport fuel obligation certificates (if any) held that may be counted towards the contributions specified in 44C(4)(b) and (c).

(2) For the purposes of subsection (1)(c), each certificate shall have a value equivalent to one megajoule of the specified amount calculated in accordance with section 44C(3) for the purpose of determining the renewable transport fuel obligation.]

F108[(2A) At the end of the 2022 obligation period, the Agency may carry out a calculation as it sees fit and determine the conversion rate applied to certificates expressed in litres held for the 2022 period and the previous periods into certificates expressed in megajoules, for the purposes of determining certificates pursuant to subsection (6)(c).]

(3) Within F109[75 days] after the date of the notification under subsection (1), each obligated party shall, for the purpose of discharging the F107[renewable transport fuel] obligation, notify the Agency in such form as the Agency determines specifying by reference to such particulars as the Agency determines the F107[renewable transport fuel] obligation certificates held to the credit of the F107[renewable transport fuel] obligation account concerned which are to be counted towards the discharge of the F107[renewable transport fuel] obligation notified under subsection (1).

(4) Where an obligated party fails to notify the Agency within the period specified in subsection (3) of the number of F107[renewable transport fuel] obligation certificates to be so counted, the Agency shall determine which certificates held to the credit of the F107[renewable transport fuel] obligation account concerned are to be so counted in the date order according to which those certificates were issued and shall notify the obligated party accordingly in such form as the Agency determines as soon as is reasonably practicable.

(5) For the purposes of this section, the discharge of the F107[renewable transport fuel] obligation notified under subsection (1) shall be effected by recording a debit in the F107[renewable transport fuel] obligation account concerned of the F107[renewable transport fuel] obligation certificates to be counted under subsection (3) or (4), as appropriate, towards the discharge of the F107[renewable transport fuel] obligation so notified.

(6) (a) F110[Subject to paragraphs (b) and (c)] a F107[renewable transport fuel] obligation certificate, the period of validity of which has not expired, may be counted towards the discharge of the F107[renewable transport fuel] obligation notified under subsection (1) of the obligated party to whose F107[renewable transport fuel] obligation account the certificate is credited for any obligation period subsequent to the obligation period in respect of which the certificate issued.

(b) F111[For obligation periods beginning before 1 January 2020, a F107[renewable transport fuel] obligation certificate referred to in paragraph (a)] may not be counted towards the discharge of more than 25 per cent of the amount of the F107[renewable transport fuel] obligation notified to the obligated party under subsection (1) in respect of that subsequent obligation period.

F107[(c)For obligation periods beginning on or after 1 January 2020, a certificate referred to in paragraph (a) and (b) may not be counted towards the discharge of more than 15 per cent of the amount of the obligation notified to the obligated party under subsection (1) in respect of that subsequent obligation period.]

F112[(d) for obligation periods beginning on or after 1 January 2023, the Minister may also make regulations to specify a percentage (lower than 15 per cent) amount of certificates which may be counted against that obligation period, when considering the amount of buyout price for discharge of the obligations by payment under Section 44J (5) under this Part.

(e) for the purpose of this section, certificates in respect of the advanced biofuel obligation are not interchangeable with certificates in respect of the renewable transport fuel obligation.]

(7) A F107[renewable transport fuel] obligation certificate held to the credit of a F107[renewable transport fuel] obligation account may not be counted towards the discharge of the F107[renewable transport fuel] obligation notified under subsection (1) in respect of any obligation period which is prior to the period of validity of the certificate concerned.]