102Carried forward shortfalls must be remedied

#### 102 Carried forward shortfalls must be remedied 102 Carried forward shortfalls must be remedied > > (1) A scheme participant who has a carried forward shortfall in a compliance period must remedy the carried forward shortfall in the compliance period to which the shortfall is carried forward. > > > (2) A scheme participant remedies a carried forward shortfall if the participant surrenders the number of certificates required for the carried forward shortfall. > > > (3) A scheme participant fails to remedy a carried forward shortfall if the participant does not surrender the number of certificates required for the carried forward shortfall. > > > (4) If a scheme participant fails to remedy a carried forward shortfall, the scheme participant must pay a penalty for the amount by which the carried forward shortfall exceeds the certificates surrendered by the scheme participant for the compliance period (the non-remedied amount). > > > (5) The penalty must be calculated as if the non-remedied amount were a shortfall for the compliance period to which the shortfall is carried forward. > > > (6) The penalty is payable in the same way as, and is taken to be, a shortfall penalty. > > > (7) To avoid doubt, a penalty payable by a scheme participant for a failure to remedy a carried forward shortfall in a compliance period is additional to a penalty payable by the scheme participant for a shortfall in the compliance period.