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Electronic Code of Federal Regulations

e-CFR Data is current as of November 20, 2014

Title 40Chapter ISubchapter CPart 96 → Subpart G


Title 40: Protection of Environment
PART 96—NOX BUDGET TRADING PROGRAM AND CAIR NOX AND SO2 TRADING PROGRAMS FOR STATE IMPLEMENTATION PLANS


Subpart G—NOX Allowance Transfers


Contents
§96.60   Submission of NOX allowance transfers.
§96.61   EPA recordation.
§96.62   Notification.

§96.60   Submission of NOX allowance transfers.

The NOX authorized account representatives seeking recordation of a NOX allowance transfer shall submit the transfer to the Administrator. To be considered correctly submitted, the NOX allowance transfer shall include the following elements in a format specified by the Administrator:

(a) The numbers identifying both the transferor and transferee accounts;

(b) A specification by serial number of each NOX allowance to be transferred; and

(c) The printed name and signature of the NOX authorized account representative of the transferor account and the date signed.

§96.61   EPA recordation.

(a) Within 5 business days of receiving a NOX allowance transfer, except as provided in paragraph (b) of this section, the Administrator will record a NOX allowance transfer by moving each NOX allowance from the transferor account to the transferee account as specified by the request, provided that:

(1) The transfer is correctly submitted under §96.60;

(2) The transferor account includes each NOX allowance identified by serial number in the transfer; and

(3) The transfer meets all other requirements of this part.

(b) A NOX allowance transfer that is submitted for recordation following the NOX allowance transfer deadline and that includes any NOX allowances allocated for a control period prior to or the same as the control period to which the NOX allowance transfer deadline applies will not be recorded until after completion of the process of recordation of NOX allowance allocations in §96.53(b).

(c) Where a NOX allowance transfer submitted for recordation fails to meet the requirements of paragraph (a) of this section, the Administrator will not record such transfer.

§96.62   Notification.

(a) Notification of recordation. Within 5 business days of recordation of a NOX allowance transfer under §96.61, the Administrator will notify each party to the transfer. Notice will be given to the NOX authorized account representatives of both the transferror and transferee accounts.

(b) Notification of non-recordation. Within 10 business days of receipt of a NOX allowance transfer that fails to meet the requirements of §96.61(a), the Administrator will notify the NOX authorized account representatives of both accounts subject to the transfer of:

(1) A decision not to record the transfer, and (2) The reasons for such non-recordation.

(c) Nothing in this section shall preclude the submission of a NOX allowance transfer for recordation following notification of non-recordation.



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