Having considered the recommendation of the Ethics and Finance Committee, the Adaptation Fund Board decided to instruct the trustee to continue to refrain from CER sales until market prices increased to a level defined by the Board. If CER prices did not increase to the defined price level set by the Board, by the defined date set by the Board, the trustee would nevertheless resume sales as of that date, according to the CER Monetization Guidelines of the Adaptation Fund, unless otherwise instructed by the Board. As the level and date must remain confidential they would be communicated to the trustee in a separate letter from the Chair of the Adaptation Board.