7 Del. Admin. Code § 1147-7.0

Current through Register Vol. 28, No. 1, July 1, 2024

Section 1147-7.0 - CO[2] Allowance Transfers

7.1 Submission of CO₂ allowance transfers.

The CO₂ authorized account representatives seeking recordation of a CO₂ allowance transfer shall submit the transfer to the Department or its agent. To be considered correctly submitted, the CO₂ allowance transfer shall include the following elements in a format specified by the Department or its agent:

7.1.1 The numbers identifying both the transferor and transferee accounts;

7.1.2 A specification by serial number of each CO₂ allowance to be transferred;

7.1.3 The printed name and signature of the CO₂ authorized account representative of the transferor account and the date signed;

7.1.4 The date of the completion of the last sale or purchase transaction for the allowance, if any; and

7.1.5 The purchase or sale price of the allowance that is the subject of a sale or purchase transaction under subsection 7.1.4.

7.2 Recordation.

7.2.1 Within 5 business days of receiving a CO₂ allowance transfer, except as provided in subsection 7.2.2, the Department or its agent will record a CO₂ allowance transfer by moving each CO₂ allowance from the transferor account to the transferee account as specified by the request, provided that:

7.2.1.1 The transfer is correctly submitted under subsection 7.1; and

7.2.1.2 The transferor account includes each CO₂ allowance identified by serial number in the transfer.

7.2.2 A CO₂ allowance transfer into or out of a compliance account that is submitted for recordation following the CO₂ allowance transfer deadline and that includes any CO₂ allowances that are of allocation years that fall within a control period or interim control period prior to or the same as the control period or interim control period to which the CO₂ allowance transfer deadline applies will not be recorded until after completion of the process pursuant to subsection 6.5.2.

7.2.3 Where a CO₂ allowance transfer submitted for recordation fails to meet the requirements of subsection 7.2.1, the Department or its agent will not record such transfer.

7.3 Notification.

7.3.1Notification of recordation. Within 5 business days of recordation of a CO₂ allowance transfer under subsection 7.2, the Department or its agent will notify each party to the transfer. Notice will be given to the CO₂ authorized account representatives of both the transferor and transferee accounts.

7.3.2Notification of non-recordation. Within 10 business days of receipt of a CO₂ allowance transfer that fails to meet the requirements of subsection 7.2.1, the Department or its agent will notify the CO₂ authorized account representatives of both accounts subject to the transfer of:

7.3.2.1 A decision not to record the transfer, and

7.3.2.2 The reasons for such non-recordation.

7.3.3 Nothing in this regulation shall preclude the submission of a CO₂ allowance transfer for recordation following notification of non-recordation.

7 Del. Admin. Code § 1147-7.0

17 DE Reg. 644 (12/1/2013)
22 DE Reg. 511 (12/1/2018) (Final)