Article 19 1.

Allowances issued from 1 January 2012 onwards shall be held in the ►M9  Union ◄ registry for the execution of processes pertaining to the maintenance of the holding accounts opened in the Member State and the allocation, surrender and cancellation of allowances under the Commission ►M9  Acts ◄ referred to in paragraph 3.

Each Member State shall be able to fulfil the execution of authorised operations under the UNFCCC or the Kyoto Protocol.