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Subpart 238-7: SO2 Allowance Transfers

(Statutory authority: Environmental Conservation Law, §§ 1-0101, 3-0301, 19-0103, 19-0105, 19-0107, 19-0301, 19-0302, 19-0303, 19-0305, 19-0311, 19-0319, 70-0109; Energy Law, §§ 3-101, 3-103)

[Filed 3/28/05. Effective 30 days after filing.]

[This is page 1 of 1 of this Subpart. A complete list of Subparts in this regulation appears in the Chapter 3 contents page. A list of sections in this Subpart appears below.]

For administrative information about this posting, contact: Division of Air Resources. The Bureau of Air Quality Planning at (518) 402-8396 is the contact for technical questions pertaining to this rule.

Contents:

Sec.

§238-7.1 Submission of SO2 allowance transfers

The SO2 authorized account representatives seeking recordation of an SO2 allowance transfer shall submit the transfer to the department or its agent. To be considered correctly submitted, the SO2 allowance transfer shall include the following elements in a format specified by the department or its agent:

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

(b) a specification by serial number of each SO2 allowance to be transferred; and

(c) the printed name and signature of the SO2 authorized account representative of the transferor account and the date signed.

§238-7.2 Recordation

(a) Within five business days of receiving an SO2 allowance transfer, except as provided in subdivision (b) of this section, the department or its agent will record an SO2 allowance transfer by moving each SO2 allowance from the transferor account to the transferee account as specified by the request, provided that:

(1) the transfer is correctly submitted under section 238-7.1 of this Subpart; and

(2) the transferor account includes each SO2 allowance identified by serial number in the transfer.

(b) An SO2 allowance transfer that is submitted for recordation following the SO2 allowance transfer deadline and that includes any SO2 allowances allocated for a control period prior to or the same as the control period to which the SO2 allowance transfer deadline applies will not be recorded until after completion of the process of recordation of SO2 allowance allocations in section 238-6.4(b) of this Part.

(c) Where an SO2 allowance transfer submitted for recordation fails to meet the requirements of subdivision (a) of this section, the department or its agent will not record such transfer.

§238-7.3 Notification

(a) Notification of recordation. Within five business days of recordation of an SO2 allowance transfer under section 238-7.2 of this Subpart, the department or its agent will notify each party to the transfer. Notice will be given to the SO2 authorized account representatives of both the transferor and transferee accounts.

(b) Notification of non-recordation. Within 10 business days of receipt of an SO2 allowance transfer that fails to meet the requirements of section 238-7.2(a) of this Subpart, the administrator will notify the SO2 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 an SO2 allowance transfer for recordation following notification of non-recordation.