Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Administration definition

What does Administration mean? Administration is a corporate insolvency procedure used to protect and stabilise a financially distressed company while an independent insolvency practitioner (the administrator) takes control to pursue rescue or a better return to creditors than liquidation. It is a statutory process in England and Wales and Scotland under the Insolvency Act 1986, Schedule B1, and in Northern Ireland under the Insolvency (Northern Ireland) Order 1989, Schedule B1. Key features include an immediate moratorium on most creditor enforcement, displacement of the directors’ management powers, and appointment either by court order or out of court by the company, its directors or...

UK Emissions Trading Scheme: legal framework, compliance and administration; cap, allocation and market stability mechanisms; expansion to maritime, waste and removals; registry transparency; and prospective EU ETS linkage (2021–2040)

Published by a LexisNexis Environment expert

Practice notes

EU Emissions Trading System (ETS)

Following the close of the Brexit transition on 31 December 2020 (IP completion day), the UK ceased participation in the EU’s Emissions Trading System (ETS).

The EU ETS aims to cap overall emissions of specified greenhouse gases (GHG) from factories, power stations and other covered installations via a cap-and-trade allowance market.

It began with Phase I in 2005 and is established by Directive 2003/87/EC, as later amended by Directive 2009/29/EC.

Phase III started in January 2013 and concluded in 2020, with Phase IV spanning 2021–30.

For more details on the EU ETS and carbon trading, see Practice Notes:

EU Emissions Trading System (ETS) Phase IV—Directive 2003/87/EC
EU Emissions trading system—outline
EU Emissions Trading System (ETS) for aviation
EU Emissions Trading System (ETS) for maritime transport
EU Emissions Trading System (ETS) for buildings, road transport, and additional sectors
Carbon markets—basic principles and future developments
Carbon markets—carbon trading agreements
Carbon markets—price of Carbon
Carbon markets—international emissions trading schemes

Before Brexit, the EU ETS was given effect in the UK by the Greenhouse Gas Emissions Trading...

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Web page updated on 22/05/2026

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