44K.— (1) F119[Renewable transport fuel] obligation certificates may be transferred from the F119[renewable transport fuel] obligation account holder to whose account the certificates are credited to another F119[renewable transport fuel] obligation account holder, subject to this section and any regulations made under it.

(2) Where a F119[renewable transport fuel] obligation account holder proposes to transfer F119[renewable transport fuel] obligation certificates to another F119[renewable transport fuel] obligation account holder, he or she shall give notice to the Agency in such form as the Agency determines of—

(a) the name and account number of the F119[renewable transport fuel] obligation account holder who proposes to transfer F119[renewable transport fuel] obligation certificates (in this section referred to as the "transferor"),

(b) the name and account number of the F119[renewable transport fuel] obligation account holder to whom it is proposed to transfer the F119[renewable transport fuel] obligation certificates (in this section referred to as the "transferee"),

(c) the number and date of each F119[renewable transport fuel] obligation certificate concerned,

(d) the proposed date of the transfer, and

(e) such other matters as the Agency may determine.

F120[(2A) In order to count F119[renewable transport fuel] obligation certificates against the discharge of a F119[renewable transport fuel] obligation for any obligated period, the notice of transfer for those certificates must be submitted to the Agency within 81 days after the end of the obligation period concerned.]

(3) The Minister, following consultation with the Agency, may make regulations providing for—

(a) the conditions subject to which a transfer may be effected under this section, including the minimum and maximum number of F119[renewable transport fuel] obligation certificates which may be transferred by any F119[renewable transport fuel] obligation account holder during any obligation period, and

(b) such other matters relating to the transfer of F119[renewable transport fuel] obligation certificates as the Minister considers appropriate.

(4) For the purposes of this section, a transfer shall be effected by recording a debit in the transferor’s F119[renewable transport fuel] obligation account and a credit in the transferee’s F119[renewable transport fuel] obligation account of the F119[renewable transport fuel] obligation certificates so transferred.

(5) The Agency shall not effect the transfer of any F119[renewable transport fuel] obligation certificate—

(a) the period of validity of which has expired, or

(b) which is the subject of a notice of revocation under section 44M which has not yet taken effect under that section.

(6) This Part applies to a F119[renewable transport fuel] obligation certificate transferred under this section in all respects as it applies to a F119[renewable transport fuel] obligation certificate issued under section 44G and a F119[renewable transport fuel] obligation certificate so transferred may be counted by the transferee towards the discharge of the F119[renewable transport fuel] obligation notified to the transferee under section 44I(1).]