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Electronic Code of Federal Regulations
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e-CFR data is current as of December 12, 2019
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Title 40: Protection of Environment
PART 1042—CONTROL OF EMISSIONS FROM NEW AND IN-USE MARINE COMPRESSION-IGNITION ENGINES AND VESSELS
Subpart H—Averaging, Banking, and Trading for Certification
§1042.720 Trading emission credits.(a) Trading is the exchange of emission credits between manufacturers. You may use traded emission credits for averaging, banking, or further trading transactions. (b) You may trade actual emission credits as described in this subpart. You may also trade reserved emission credits, but we may revoke these emission credits based on our review of your records or reports or those of the company with which you traded emission credits. You may trade banked credits within an averaging set to any certifying manufacturer. (c) If a negative emission credit balance results from a transaction, both the buyer and seller are liable, except in cases we deem to involve fraud. See §1042.255(e) for cases involving fraud. We may void the certificates of all engine families participating in a trade that results in a manufacturer having a negative balance of emission credits. See §1042.745.
[73 FR 37243, June 30, 2008, as amended at 75 FR 23009, Apr. 30, 2010]
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