Section Env-A 4804.07 - Financial Security(a) To receive approval to participate in any specific auction, otherwise qualified bidders shall provide financial security in the form and manner described in the CO2 allowance auction notice.(b) Any person who has posted financial security may request return of the financial security at any time prior to or following any CO2 allowance auction. The regional organization shall return said financial security upon request, provided that the department has no current or pending claim to such security as a result of a failure of the person to comply with these rules or to pay the full amount of an accepted bid when due. If the request for return of financial security is made prior to the auction, the request shall be deemed a withdrawal from participating in that auction.(c) Participation in any auction shall be limited to the level of financial security provided by the participant.(d) If a bidder's offer is accepted in a CO2 allowance auction and the bidder fails to tender payment of the full amount when due, the department shall direct the regional organization to retain that portion of the financial security needed to cover the full amount owed by the bidder.N.H. Code Admin. R. Env-A 4804.07
#9445, eff 4-3-09 (from Env-A 4804.06); ss by #10470, eff 1-1-14